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Technology Stocks : Lucent Technologies (LU)

LU 2.725

-0.2%

12:08 PM EST

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To: William Hunt who wrote (5944)	1/29/1999 10:37:00 PM
From: Kenneth E. Phillipps	Read Replies (1) of 21876

Was the recovery of Lucent and Ascend this week due, in part, to the earnings reports from Nortel and Tellabs. Jubak, from Money Central, thinks so. Here is an excerpt from todays column. Lucent's stock fell after revenue growth in the December 1998 quarter was weaker than analysts had expected. The company's explanation that accounting problems had delayed the recognition of $800 million in sales seemed shaky. Management insisted that this was a one-time problem and that revenue would climb 30% in the next quarter. Still no sale -- until strong earnings reports from Lucent competitors Tellabs and Northern Telecom (NT) showed that growth was indeed showing no signs of slowing. Lucent rallied on that news, as it should have. Incidentally, I sent an email to Jubak reminding him that, in a previous article, he said that Nortel would "stumble on the merger". He was wrong then just as others are wrong today to suggest that Lucent would stumble on the Ascend acquisition. Have a good February. Ken

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