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 : PCW - Pacific Century CyberWorks Limited -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (543)	3/11/2001 10:43:04 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

[DKKBF]Datacraft Shares Fall on Cisco's Plan to Cut Staff (Update1) By Natalia Olynec Singapore, March 12 (Bloomberg) -- Datacraft Asia Ltd. shares fell as much as 4.1 percent after Cisco Systems Inc., Datacraft's main supplier of computer-networking equipment, said it will shed as many as 8,000 jobs because of slowing demand. Datacraft's shares tend to mirror the performance of Cisco's stock, which fell 9.6 percent Friday, Brenda Lee, an analyst at Daiwa Institute of Research (Singapore) Pte., said. U.S. phone companies and large corporations are buying less networking equipment amid a slowing economy. That's fueled concern their counterparts in Asia will also curtail spending. ``If there's a slowdown in the U.S. the companies' subsidiaries in Asia will also be affected,'' Lee said. ``It seems a recovery is not in sight.'' Shares of Singapore-based Datacraft, which has set up a quarter of Asia's networking systems, fell 17 cents to $4.98 in recent trading. Datacraft's shares, which trade in U.S. dollars, have fallen about 14 percent in the past month. Datacraft Asia [OTC BB: DKKBF] quote.bloomberg.com