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 : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: larry pollock who wrote (3060)	2/23/2001 12:26:41 PM
From: larry pollock	Read Replies (1) \| Respond to of 3891

French Stocks Decline, Led by Alcatel After Goldman Cuts Rating By Nicolas Johnson and Tom Pfeiffer Paris, Feb. 23 (Bloomberg) -- French stocks fell for a sixth consecutive session and the benchmark CAC 40 index hit a 15-month low. Alcatel SA led declines after analysts at Goldman, Sachs & Co. cut their rating on the shares. Alcatel fell further after Motorola Inc. said it expects to miss first-quarter sales targets. France Telecom SA slipped on concern a new bond sale will meet weak demand. The CAC 40 stock index shed 106.49 points, or 2 percent, to 5345.99, bringing its decline this week to 4.5 percent. The CAC has not traded so low since Dec. 2, 1999. Alcatel was responsible for 20 points of the CAC's decline. The broader SBF 120 index dropped 54.53 points, or 1.5 percent, to 3680.79, with about seven shares falling for every five that rose. Alcatel, Europe's second-biggest telephone-equipment maker, dropped 3.24 euros, or 7 percent, to 42.76, making it the biggest percentage decliner in the CAC index. Goldman Sachs cut its rating on the shares to ``market perform'' from ``outperform.'' Motorola, the world's second-largest maker of cellular phones, said it expects to miss a forecast for first-quarter sales because of ``significant weakness'' in orders. Yesterday Alcatel said sales from mobile phones that allow high-speed Internet access will overtake traditional mobile phones in 2007, two years later than earlier forecast, because it will take longer than expected to develop services. The following stocks are making significant gains or loses in French markets. Stock symbols are in parentheses after the company names. Altedia SA (TLA FP) gained 1.3 euros, or 2.8 percent, to 48.3. The communication and human-resource consultant will replace Cie. de Fives-Lille SA (BK FP), which is being bought by Industri Kapital, in the MIDCAC index from March 23, French stock exchange operator Euronext said. Danone SA (BN FP) gained 1.8 euros, or 1.2 percent, to 150.2. Rival Nestle SA, the world's largest food company, said full-year profit rose 22 percent, buoyed by cost cutting and higher demand for products such as Nescafe coffee in emerging markets. France Telecom SA (FTE FP) declined 3.8 euros, or 5.6 percent, to 64. The phone company, whose credit ratings were cut last week, may struggle to find buyers for the 30-year bonds it plans to start marketing today amid concern about whether investments in new technology will pay off, investors said. GrandVision SA (GPS FP) rose 0.73 euro, or 3.5 percent, to 21.73. France's biggest eyewear retailer forecast a ``strong rebound'' in earnings this year after 2000 profit fell 53 percent to 15.1 million euros after it spent more to open new stores. Recif SA (RCIF FP) gained 0.72 euro, or 2.4 percent, to 31. The maker of robots used in the production of silicon wafers said its 2000 earnings almost tripled to 2.8 million euros from 1 million euros in 1999. The Aussonne, France-based company said it expects sales to increase 30 percent this year after more than doubling last year to 39.4 million euros.