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To: Perry Ganz who wrote (10288)	2/15/2001 11:22:33 PM
From: Boplicity	Read Replies (1) \| Respond to of 13572

re: And weakness in that so-called legacy business has punished Nortel the most in its current quarter, it appears. His reasoning is off. <<Nortel Networks (NT) 29.75 +0.20: -- Update -- Conference call ends. NT makes it clear that the unexpected weakness was primarily a US optical phenomenon -- says that carriers are investing in utilizing existing capacity but not looking at new routes until existing network is filled. Call is in stark contrast to the Ciena (CIEN) call this morning, but NT claims that it has not lost market share to competitors. Some analysts express skepticism that NT can make its Q2 and Q3 numbers given new revenue guidance, but NT says that headcount reduction will help to bring down fixed costs and that it can achieve full year EPS growth of 10%.>>