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Technology Stocks : Lucent Technologies (LU)

LU 2.490

-1.2%

12:59 PM EST

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To: Kenneth E. Phillipps who wrote (21221)	4/29/2003 10:46:30 PM
From: elmatador	of 21876

Big operators cut spending 19%. According to the The Wall Street Journal, investors' recent hopes that the beleaguered telecoms sector might be turning a corner, bringing better times to the equipment makers in particular, are being dashed as the biggest telecom companies disclose reductions in first-quarter capital spending to recent new lows. The depth of the cuts is disappointing analysts and investors alike. All told, spending on equipment by the six major telecom operators that have reported was down an average of 19% in the first quarter compared with the same period the year before, widely considered to be the worst year in the telecom industry's history. (Wall Street Journal, 4/28)

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