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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Rob C. who wrote (51480)	4/16/2001 5:09:55 PM
From: Ed Forrest	Read Replies (1) \| Respond to of 77398

Watch the smart money buy tomorrow. Rob Not sure of that but they hated it today at 18 but loving it at 15.5 and now 15.75. Conference call should be in progress right now. Ed

To: Rob C. who wrote (51480)	4/16/2001 5:20:01 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 77398

If the analyst(s) had this info two weeks ago, then who moved this stock from 13 to 18 in the last few days? That's a big % move. And, even now, CSCO is a big cap, it takes a lot of money to move the stock. Retail investors alone couldn't have done it, had to be institutional investors (who analysts talk to before they issue public recommendations). So, I see the recent upturn in the stock as an indication that the Big Money not only isn't Smart, but is as surprised as anybody at the size of these charges.

To: Rob C. who wrote (51480)	4/16/2001 5:40:13 PM
From: Stock Farmer	Read Replies (1) \| Respond to of 77398

Possibly there has been a program to get information of this nature out. Lots of rumors swirling. But possibly not. I am stunned by the size of the inventory charge. 2.5 B$ is equal to the entire "huge" inventory pile held 3 months ago. Basicly, wiping the slate clean. Residual inventory level will tell lots about the state of the off-books channels. With the size of these charges, watch out for negative cash flow. Revised income stmt guess... Less commentary, just the numbers... Rev: -30% from 6.8 B$ = 4.76 B$ 4.8 B$ Revenue 2.2 B$ COGS ------ 2.6 B$ GM (55%) <-- versus my previous guess of 2.6 B$ Close for all the wrong reasons Opex 3.1 B$ GAAP <-- same opex as Q1, forget efficiencies ----- (0.5) GAAP earnings <-- versus previous +0.52-tax (math fixed) Adj. to Pro-Forma 1.0 B$ restructuring charge 0.2 B$ avoided In Process R&D writedown (0.3 B$) excluded investment gains ------ 0.4 B$ = $0.06 / share <-- versus prior guess 0.62 B$ - tax Spot PE at $12/share = 50 Smart money may not want to buy this news. John.