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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (2957)	11/7/2000 5:52:35 PM
From: Glenn Duncan	Respond to of 19633

Hello Tom, Some comments GSPN: www2.marketwatch.com --3:30 pm - By Michael Baron GlobeSpan (GSPN: news, msgs) is plummeting $17, or 25.1 percent, to $50.75, on heavy volume of 11.5 million shares. This drop comes on the heels of a near 10 percent fall in Monday's trading. The Red Bank, N.J., communications chip firm is selling off along with the other members of its sector on Cisco Systems' (CSCO: news, msgs) disclosure that it plans to reduce inventory going forward [see 10:03 am item]. GlobeSpan Chief Financial Officer Bob McMullan acknowledged Cisco is the company's top customer, accounting for roughly 31 percent of its revenue in the latest quarter. McMullan, who stressed that the company hasn't changed its earnings outlook for the fourth quarter and fiscal 2001, addressed the weakness in the stock price. "What's going today appears to be indiscriminate selling of anyone with a relationship to Cisco," he told CBS MarketWatch. "In fact, the company made a number of positive comments in the conference call about its expectations for DSL (digital subscriber line) build-out." I bot late this afternoon when I got home, couldn't resist at $50.0625. Hope I'm not catching the falling knife. Added CMGI yesterday....thanks. Still in KANA, I think it still has upside from here. G