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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: John Paquet who wrote (10997)	7/7/2001 8:22:36 PM
From: Dexter Lives On	Read Replies (2) \| Respond to of 14638

Looks like nortel has a date with new lows... 07/07 09:26 July Marks Start of Doldrums for Nasdaq: U.S. Stocks Outlook By Danielle Sessa New York, July 7 (Bloomberg) -- The Nasdaq Composite Index slid this week for the first week in three as companies from I2 Technologies Inc. to Rational Software Corp. said earnings will be disappointing. If history is any guide, stocks won't stage much of a rebound in coming months. The index since 1971 has returned an average of 0.2 percent from July through October, its lowest returns in any four-month stretch, said Yale Hirsch, publisher of the Stock Trader's Almanac, which tracks statistical patterns in the market. ... quote.bloomberg.com 07/07 06:46 Marconi, Phone-Equipment Stocks to Fall Further, Investors Say By Molly Schuetz Paris, July 7 (Bloomberg) -- Shares of Marconi Plc, Alcatel SA and Ericsson AB, which all tumbled this past week, may fall further as Europe's economy cools and slowing growth leads to sales declines, investors said. Marconi, the U.K.'s largest phone-equipment maker, fell 54 percent Thursday after the company reversed a May forecast that sales would rise and said operating profit will drop by half in fiscal 2002. The announcement also drove down the rivals' shares. Telecommunications-equipment makers have been cutting jobs and selling factories in Europe as demand dries up. This week, Marconi Chief Executive George Simpson, whose designated successor John Mayo resigned yesterday, said the company doesn't expect a recovery until the first half of next year. The recent bad news ``barely scratches the surface,'' said Benoit Flamant, who helps manage about $400 million at IT Asset Management, including shares in Alcatel, Nokia Oyj and Nortel Networks Corp. It's ``going to have to be followed up by action,'' such as asset sales, takeovers or closures. ... quote.bloomberg.com