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To: Dale Baker who wrote (22084)	10/25/2000 5:51:05 AM
From: Dale Baker	Respond to of 118717

Two must read items - new report on optical spending (positive for a change): lightreading.com And SSB puts NT report into context: Message 14654247 As Pat Mudge put it, if NT's biggest problem is not having enough engineers to install everything their customers want, it's a nice problem to have and one they can deal with easily. Attention K-Mart shoppers - HUGE bargains available at 0930 EST in multiple stock markets, no rain checks!

To: Dale Baker who wrote (22084)	10/25/2000 6:02:06 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

Sounds like the funds will be buying this dip in NT: "People expected a lot, the company gave a lot, but that's not good enough in a market this nervous," said Stephen Gauthier, a portfolio manager at Pictet & Co., which oversees about $100 billion in assets, including Nortel shares. "Revenues were a bit on the light side, but the guidance is good." "If anything, we'll be buying more," Gauthier said. Nortel said third-quarter earnings from operations, excluding one-time charges, soared to $574 million, or 18 cents a share, compared with 11 cents for the same period a year earlier. Analysts surveyed by First Call forecast that the Brampton, Ontario-based company would earn 17 cents a share. Revenue rose 42 percent to $7.3 billion, about $200 million shy of the average estimate of analysts polled by First Call. Duncan Stewart, a portfolio manager at Tera Capital in Toronto, pointed out that while Nortel's revenue from its optical business grew 90 percent in the third quarter from the same period a year ago, it was actually slower than the 150-percent surge in the second-quarter. That rattled many so-called momentum investors, Stewart said. "Quarter over quarter, revenue from the optical side was down," Stewart said. "Growth actually fell, but that was really more of a problem with getting the equipment installed. They didn't have enough people." "We're buying the stock here," he concluded.