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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (7897)	4/17/2001 12:02:13 AM
From: John Pitera	Respond to of 15481

Fred some good CSCO comments here Message 15671327 This is only the second time Cisco has missed earnings forecasts, the first being the second quarter. In the past, Cisco had consistently exceeded analysts' forecasts by exactly one penny. Monday's revised guidance compares with a Feb. 6 forecast that sales would be little changed to down as much as 5 percent from the second period. The forecast 30 percent reduction would mean third quarter sales of about $4.72 billion. Likening the dramatic slump to a 100-year flood that may not even happen in one's lifetime, Chambers told Reuters, ``Not only did it occur in our lifetimes, but the magnitude was about five times what we thought possible.'' He said he had previously thought that a 100-year flood would be a 10 percent sequential decline in sales. I think that when you are talking about 100 year floods and then it being of a magnitude that is 5 times greater than, the 100 year flood threshhold, you are losing much of the HALO of Managerial Acumen.