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Technology Stocks : Newbridge Networks

NN 12.17

-3.4%

2:08 PM EST

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To: rag2rag who wrote (7618)	11/22/1998 1:40:00 AM
From: Dennis R. Duke	Read Replies (1) of 18016

Comparison of Merrill Lynch Earnings estimates: 1999E 2000E 1998A Low High Low High NN $1.01 $1.20 $1.30 $1.85 $1.95 LU $1.72 $2.05 $2.15 $2.45 $2.55 CSCO $1.17 $1.43 $1.47 $1.75 $1.85 Calculated Growth Rates 99E vs. 98A 2000E vs. 99E Low High Low High NN 18.8% 28.7% 54.2% 50.0% LU 19.2% 25.0% 19.5% 18.6% CSCO 22.2% 25.6% 22.4% 25.9% ML reported Year-over-year growth: 1999E 2000E NN 23.8% 52.0% LU 22.1% 19.0% CSCO 23.9% 24.1% Based on ML reports dated 10/23, 11/20 and 11/11/98 for NN, LU and CSCO, respectively. What is more interesting is that ML wrote a report on Friday, 11/20 to say that LU is RESTRICTED - "Solicitation of commission orders is prohibited" is on the face of the report. Further, ML reports as to LU: "Contrary to current speculation, the company has informed us that it is not planning a conference call this afternoon to announce layoffs or any restructuring activities." Any way you look at it NN has nice growth if it can make forecasts! CSCO is growing faster than LU. So the pressure might be on LU. And you have to wonder, What's up with ML and LU? Later, Dennis

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