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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (40007)	8/8/2001 2:13:16 AM
From: stockman_scott	Respond to of 65232

Briefing's Bob Walberg on Cisco... <<After much anticipation and hand wringing, CSCO stepped to the plate and reported Q4 sales and earnings of $4.3 bln and $0.02 -- both numbers were right in line with consensus estimates... Though company has historically bested consensus figures ever so slightly, mere fact that they didn't disappoint is likely to be considered a modest win... Guidance was neither overly bullish nor overly bearish. On the one hand, company noted that book/bill for July qtr was above 1.0; it gained market share from Juniper of between 3%-5%; and that short-term visibility, particularly in the states, was improving... On the other hand, Chambers noted that business in Europe and Asia is likely to get more challenging (slow), long-term visibility remains clouded; Oct revenues will be flat to down 5% (slightly below consensus numbers); and achieving 30%-50% revenue growth targets in future might be challenging. In the end, something for both bulls and bears, with the balance tipped slightly in favor of the latter... Stock down fractionally in after hours trading. Yesterday on this page we predicted that the Cisco report would have little impact on the overall sector, as it was unlikely to alter perceptions about the timing of an earnings/economic recovery... Having seen the numbers and listened to the call, we see no reason to alter our call. While early morning calls from brokerages could negatively influence stock and sector off the open, Briefing.com expects sector to free itself from the shackles of the CSCO report by mid-morning... With CSCO earnings out of the way, nothing on the immediate horizon to trip up bulls... Consequently, should begin to see buying reemerge by midday... Nothing outrageous, but enough to make up for modest declines posted early in the week.>> Best Regards, Scott **BTW, Bob Walberg (Briefing.com's Chief Equity Analyst) will be on CNBC's Squawk Box Wednesday morning at 9:40am EST to discuss the market outlook.