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

To: limtex who wrote (46852)	1/23/2002 11:35:27 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

Still Pumping...... Sector rises; sales seen stabilizing By Jeffry Bartash, CBS.MarketWatch.com Last Update: 10:21 AM ET Jan. 23, 2002 NEW YORK (CBS.MW) - Telecommunications stocks edged higher in Wednesday action, as investors took small comfort in evidence that the industry's slump has bottomed out. In recent days, a raft of communications have reported fourth-quarter earnings. While none of the reports have painted a picture of improving conditions, results have not deteriorated much. Most companies said they saw sales accelerating in the second half of the year. Case in point: Tellabs (TLAB: news, chart, profile) posted slightly higher sales in the fourth quarter compared to the third quarter. That ended a streak of three straight steep declines in quarterly revenue. See full story. In recent trading, the American Stock Exchange's Networking Index, which represents large manufacturers, rose 0.7 percent. Stocks in the index were mixed, but mild gains in Nokia (NOK: news, chart, profile) and Cisco Systems (CSCO: news, chart, profile) pulled the group higher. Tellabs was flat at $15.07. The Nasdaq Telecommunications Index, which tracks younger equipment manufacturers and phone carriers, was flat. And big phone stocks, as measured by Standard & Poor's Communications Services Index, added 1.6 percent. The Baby Bells - Verizon (VZ: news, chart, profile), BellSouth (BLS: news, chart, profile) and SBC Communications (SBC: news, chart, profile) - each tacked on 2-3 percent. Long-distance stocks were flat. Elsewhere, wireless stocks were divided. Larger-cap stocks mostly fell, while smaller operators edged slightly higher.