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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Oak Tree who wrote (21316)	7/24/2001 8:44:45 AM
From: James Calladine	Respond to of 30051

NOT MUCH SUNSHINE HERE (from Briefing) <<<07:32 ET Agere Systems (AGR.A) 7.00: Lucent expects discussion with its banks to amend the covenants under its credit facilities could delay the Agere spin off for up to six months. The company may explore an alternative path for achieving full independence for Agere through a secondary public offering of the Agere. LU plans: eliminating an additional 15-20K jobs; reducing forecasted capital spending by more than $700 mln to $1.5 bln for fiscal yr 2001; eliminating its dividend. Company expects these efforts to allow a return to profitability during fiscal year 2002. 07:14 ET Lucent Tech (LU) 7.90: -- Update -- Reports a Q3 pro forma loss of $0.35 a share; analysts were expecting a loss of $0.21 for the qtr. Revenues from continuing operations fell 21% to $5.82 bln.>>> Namaste! Jim