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Technology Stocks : Lucent Technologies (LU)
LU 2.660-1.5%Dec 12 9:30 AM EST
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To: Anonymous who wrote (7242)4/12/1999 4:51:00 PM
From: Mr.Fun  Read Replies (4) of 21876
 
Actually, Soundview's downgrade had a lot more to do with it. The street is itchy about Q2 revenues - Soundview says they will only do $7.5 billion. This call was based on "industry sources". Well, all the industry sources I checked with have said LU will have no problem, including CFO Don Peterson who said point blank at the Merrill Lynch conference that LU would make the $8 billion revenue number. Soundview shoots from the hip and is not a top-tier house, none-the-less, even lazy, rumor mongering sell-siders have influence because everyone thinks they may have a mole inside the company. Well, Soundview's analyst is new and has already racked up a poor track record. This overly bold call gained him alot of attention, pity he is wrong and will be caught not having done his homework.
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