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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: William Hunt who wrote (10531)	10/22/1999 12:09:00 PM
From: MStonek	Read Replies (2) \| Respond to of 21876

Regarding McGinn... A year ago LU hit a low of around 26 (adjusted for split), 50% from its highs, in concerns that it wouldn't make its numbers. Other companies (ALA, NT) had preannouced that they wouldn't meet expectations and everybody expected LU to be the next to follow with a warning... On 10/8/98 LU issued a press release where they indicated that they felt comfortable with analysts estimates. This was followed by an appearance of McGinn on CNBC reiterating this (he couldn't say more, it was the quiet period, LU was reporting 2 weeks later). This caused the stock to take off. It helped that the fed lowered rates in the next couple of days and also, of course, that LU reported very good numbers. But the end result was that the stock more than doubled in 3 months, from 10/98 to 1/99... Very different McGinn's attitude then than now which leads me to believe that this time there might be some substance to the rumours... We will see... Michael.