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Technology Stocks : Comverse Technology
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To: JEFF CHAPMAN who wrote (362)1/26/1998 2:58:00 PM
From: JakeStraw  Read Replies (1) of 1331
 
JC, CMVT's retreat today might be related to this:

ADC Telecommunications (Nasdaq: ADCT) fell $10 3/16 to $17 15/16
after the telecom equipment supplier revised once again its outlook for the
first quarter. On January 16, the company announced that it would miss
analysts' estimates; on Friday it said it will report 10% to 15% revenue
growth and flat earnings of about $0.19 per share. Merrill Lynch doesn't
like the implications for other telecom equipment suppliers and cut to
"hold" its ratings on both Tellabs (Nasdaq: TLAB), which fell $3 5/8 to
$47 3/4, and Northern Telecom (NYSE: NT), which declined $1 3/4 to
$40 9/16.

(From the Motley Fool Lunchtime News)
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