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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (20469)	6/16/2001 12:49:14 PM
From: puborectalis	Read Replies (2) \| Respond to of 24042

Siemens CEO Sees Business Improving in Q4 - Paper FRANKFURT (Reuters) - Siemens AG (news - web sites) expects business conditions to improve in the final quarter of its financial year after a difficult third quarter, its chief executive Heinrich von Pierer was quoted on Saturday as saying. ``Barring some disaster, we will have survived the worst after the third quarter,'' Pierer told Frankfurter Allgemeine Zeitung newspaper. He said that he would not yet risk forecasting the results for the full 2000/2001 financial year which ends on September 30. ``This is too difficult,'' said Pierer. Siemens has so far declined to present firm forecasts for the current year citing uncertain business conditions, particularly in the mobile phone market. Profit warnings from world's largest maker of mobile phones Nokia (news - web sites) and Nortel Networks last week sent shock waves across European and U.S. markets unsettled by fears of lower earnings in the technology sector. But Siemens has said it was sticking to its medium-term margin targets for its mobile and network units and Pierer said Nokia's warning did not dampen the business outlook further. ``Nokia's warning came unexpectedly late, but was not unexpected,'' he said. Siemens has said it planned to slash costs in its mobile unit by 600 million euros by the end of 2001 but Pierer said the group could seek additional costs savings in case business conditions worsened further. He declined, however, to give specific figures.