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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.08

+0.1%

Nov 7 9:30 AM EST

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To: Eric who wrote (24535)	4/20/1999 4:33:00 PM
From: James A. Shankland	Read Replies (1) of 77397

Microsoft did $.35. 3 pennies better than expected. Good news for the techs! Except that they were expected to do $.03 better than expected <g>; that's the way the game is played. MSFT does it every time: guide analysts to ca $.03 less than what you think you'll really do, then shuffle revenue from quarter to quarter to hit your real target right on the mark. The real news will be in the forward guidance, especially with respect to revenues. If it's just the usual, cautionary boilerplate, we'll get a relief rally. If the guidance is more cautious than usual, confirming a slowdown in the PC sector (or is perceived that way), then the Nasdaq screws the pooch again tomorrow.

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