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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: Bosco who wrote (2185)	11/5/1997 11:35:00 AM
From: Rick C.	Read Replies (1) of 37387

Hi Bosco and All~Looks like Cisco doing its part to bootstrap the networkers again so far. Hope it continues. Even NN benefits. Regards, Rick Wednesday November 5 9:58 AM EST Networkers up after Cisco beats estimates NEW YORK, Nov 5 (Reuters) - Cisco Systems Inc led a rally in computer networking shares after the company's fiscal first quarter earnings beat Wall Street estimates. Late Tuesday, the San Jose, Calif.-based company said it earned $0.59 a share in the quarter, excluding one-time items, against $0.47 a year ago. Analysts expected Cisco to earn $0.52 a share on an operating basis, according to First Call. Shares in Cisco climbed 1-11/16 to 85-1/8 and were Nasdaq's most active in early trading on Wednesday. Fellow networkers Ascend Communications Inc (ASND), 3Com Corp (COMS) and Bay Networks Inc (BAY) also gained ground. Traders said Cisco's results appeared to allay some fears for the group that arose after Newbridge Networks Corp (NNC.TO) warned of weak second quarter results. However, Cisco's powerful industry position left some reluctant to draw broad conclusions from its results. ''This may just be a case of Cisco again flexing its muscle and showing its dominance,'' one trader said. Ascend shares gained 7/16 to 25-3/4 and 3Com gained 1-1/8 to 44-3/4. Bay Networks rose 5/16 to 35 and Newbridge Networks' NYSE-listed shares (NN) rose 13/16 to 49. Copyright c 1997 Reuters Limited. All rights reserved.

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