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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (3975)	1/7/2000 8:41:00 AM
From: Master (Hijacked)	Read Replies (2) \| Respond to of 24042

From CBS.MARKETWATCH.COM Indications: Pre- and post-market trading Lucent to come in below Street's view Cisco, Nortel, JDS Uniphase slip in sympathy By Tomi Kilgore & Brenon Daly, CBS MarketWatch Last Update: 8:21 AM ET Jan 7, 2000 NewsWatch Market Pulse NEW YORK (CBS.MW) -- A profit warning from Lucent sent shares in the company tumbling in pre-market trading Friday and also weighed on shares of other makers of networking equipment. Lucent (LU: news, msgs) dropped 15 9/16, or 23 percent, from its NYSE close to 53 1/2, according to Art Hogan, chief market analyst at Jefferies & Co. In composite trading late Thursday, the stock fell to a low of 50 5/8 before closing at 52. The networking giant (LU: news, msgs) warned Thursday evening that earnings in its fiscal first quarter will be 36 to 39 cents per share. Wall Street analysts surveyed by First Call had projected Lucent would earn 54 cents per share. The company attributed the shortfall to sluggish software sales and a rocky product transition. See related story. Despite the slowdown, Lucent said it expects to be able to boost full-year earnings 20 to 25 percent over last year's $1.20 per share. That would put the level at $1.44 to $1.50 per share; analysts were looking for $1.52. Lucent's warning bled over to rival networking companies. Cisco (CSCO: news, msgs) fell 3 to 97 in Europe, according to market makers at Madoff Investment Securities. Nortel Networks (NT: news, msgs) trimmed 1 1/4 from its NYSE close to 84 in Instinet trading. In Thursday's composite trading, it fell to a low of 75 1/2 before closing at 77. In a statement late Thursday, Nortel said it remained "very comfortable" with previously stated financial guidance for its fiscal 1999 and 2000. JDS Uniphase (JDSU: news, msgs) slipped 2 to 147 3/4, said Hogan. Last quarter, Lucent accounted for 22 percent of the company's business, according to Chase H&Q. Analyst Jeffrey Lipton believes the company will be unaffected by the Lucent preannouncement, as Lucent "scrambles to ramp capacity." Among other high-tech stocks seeing activity, Qualcomm (QCOM: news, msgs) rose 1 15/16 to 142 and AT&T (T: news, msgs) was 1 1/4 better at 49 1/4, said Jefferies.