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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Dexter Lives On who wrote (400)	1/25/2001 5:38:10 PM
From: Dexter Lives On	Respond to of 5144

Complicating factor: Updated: 25-Jan-01 AFTER THE CLOSE **** Cisco Systems (CSCO) 39 5/16 -3 1/4: Cisco is roughly a 15% customer of PMC Sierra (PMCS) and is getting hit by the negative PMCS guidance, now at 37 5/8 after hours; Lucent (LU) also roughly a 15% customer of PMCS. Note: PMCS said that revenues from 8 of 10 largest customers will be down in Q1, so it's not clear which companies are cutting orders. PMC-Sierra (PMCS) 95 7/8 -7 1/4: -- Update -- Hearing from trading floor sources that stock is indicated to reopen at 70-71. PMC-Sierra (PMCS) 95 7/8 -7 1/4: -- Update -- The $160-$170 mln is well below Q4's sales of $230 mln and consensus of $260 mln; Broadcom (BRCM 92 -12) trading down in sympathy; PMCS halted.** PMC-Sierra (PMCS) 95 7/8 -7 1/4: -- Update -- On conference call, company says they are in the "midst of an inventory correction." In Q4, book-to-bill was "significantly below one, it was weak at the end of the quarter and is continuing into Q1." Sales forecast for Q1 at $160-$170 mln, for all of 2001 sales to be up 30% yoy. PMC-Sierra (PMCS) 95 7/8 -7 1/4: -- Update -- On conference call, company painting bearish picture...details to follow.