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To: Kelvin Taylor who wrote (26521)	11/7/2000 9:05:13 AM
From: Kelvin Taylor	Read Replies (1) \| Respond to of 53068

By Tomi Kilgore, CBS.MarketWatch.com Last Update: 8:46 AM ET Nov 7, 2000 NEW YORK (CBS.MW) - Shares of Cisco System moved lower in pre-market trading Tuesday after the company's topped fiscal first quarter estimates, but outlined some concerns going forward. Cisco (CSCO: news, msgs) eased 69 cents to $54.44, but was above earlier levels. Late Monday, the high-tech bellwether said it earned 18 cents per share, topping the average analyst estimate compiled by First Call by a penny. Revenue rose 60 percent over the same period last year to $6.52 billion. Analysts were expecting $6.4 billion, according to First Call. Cisco raised 2001 revenue growth expectations to between 50 percent and 60 percent, from its previous long-term goal of 50 percent. In addition, 2001 EPS is expected to be 2 and 5 cents above current estimates. Meanwhile, the networking giant expressed concern over the service-provider part of its business, saying an economic slowdown would affect capital spending by service providers, cutting into Cisco's revenue. Also, John Chambers, Cisco's chief executive, acknowledged that Cisco's size and large market position is making it more difficult to compete. Following the quarterly report, CS First Boston reiterated its "strong buy" rating on the stock and raised its price target to $87 from $85.