Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Applied Micro Circuits Corp (AMCC) -- Ignore unavailable to you. Want to Upgrade?

To: Don Miller who wrote (947)	11/7/2000 11:56:24 PM
From: drsvelte	Respond to of 1805

Tuesday, November 07, 2000 GSPN gets whacked --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."