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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (55059)	10/4/2000 3:41:24 PM
From: The Phoenix	Respond to of 63513

Yeah... I've been watching CMRC. I couldn't get myself to buy it back this morning. Of course I wish I had now. Win some - lose some. I like my entry on ORCL though. Added more COHR, GLW, and MRVC.

To: Jorj X Mckie who wrote (55059)	10/4/2000 3:44:31 PM
From: The Phoenix	Respond to of 63513

LOL! I tell you.... these guys are following me around... now the Financial Times... NOTE: Stollen from the LU thread. news.ft.com Lex: Lucent Published: October 3 2000 20:37GMT \| Last Updated: October 3 2000 20:41GMT Lucent Technologies is having a grim year. While shares in rivals Nortel Networks and Cisco Systems are down around a quarter from their recent peaks, Lucent has dropped nearly two thirds since January, when it issued its first profits warning. To add insult to injury, the spun-off enterprise communications division - renamed Avaya - has seen its stock fall 20 per cent since it started trading this week. This gloom ignores Lucent's restructuring into a more focused, more tightly-managed company. Shedding Avaya's mature businesses was the first step. The second is next spring's demerger of microelectronics, which on Tuesday saw John Young, a former Hewlett-Packard chief executive, named as chairman. The unit comprises communications semiconductors and optoelectronic components, two high-growth businesses. But the management has rightly decided these are more valuable outside the group than inside it. On similar multiples to quoted competitors, the two parts of microelectronics, with combined revenues of about $5.7bn in 2001, are probably worth around $55bn. Subtract that from Lucent's $108bn enterprise value and the rump is trading on just 1.5 times estimated 2001 revenues. That compares with 5 times for Nortel and 13 times for Cisco. Granted, those two are growing at 35 and 50 per cent a year respectively. But Lucent should manage 20 per cent. And its remaining business of building networks for telecoms operators is attractive. The shares are worth buying.