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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (53796)	10/4/2001 12:08:48 PM
From: Gottfried	Read Replies (1) \| Respond to of 70976

Sam, re >The Rout Is Far From Over for Tech Stocks< or "this is just the beginning". Both, bears and bulls never seem to know when to quit. Gottfried

To: Sam Citron who wrote (53796)	10/4/2001 4:55:41 PM
From: Jacob Snyder	Respond to of 70976

AMAT leading indicators: From today's WSJ: AT&T Corp. Chairman C. Michael Armstrong said capital spending by the telecommunications company will fall by 20% "if not more" in 2002 Bondholders sold off the distressed debt of Global Crossing Thursday following its outlook and merger news. With the downturn in the telecom industry growing more severe as the U.S. economy heads into a likely recession, there is growing fear that even better-positioned companies like Global Crossing won't be able to survive the liquidity squeeze, analysts said..........Global Crossing expects third-quarter results to be "substantially below current analyst expectations" because of a sharp drop in wholesale capacity sales to its carrier customers.......... Global Crossing .......expects capital expenditures to fall significantly in 2002 amid reduced revenue expectations. In reporting second-quarter results in July that beat analysts' expectations, Corning Chief Executive John Loose said he felt "pretty good," when comparing Corning's situation to that of other technology firms. Now, the company is describing demand as "rapidly deteriorating," saying fiber shipments for the year will be down 10% compared with 2000. In July, Corning had said the shipments would be as much as 15% above year-earlier levels And, finally, a bit of better news: "I expected [Dell] to at least sound a note of caution, and they really didn't," said SG Cowen analyst Richard Chu. "The message was pretty clear that they still expected to do relatively well" for the third quarter and beyond. Still, Mr. Chu and others cautioned that Dell executives declined to provide a specific outlook for their fourth quarter or for next year, aside from making generally optimistic comments. The analysts said Dell's long-term prospects remain far from clear and likely will be tied to the direction of the overall economy