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Strategies & Market Trends : BEFRIEND THE TREND Short-term Options Trading Thread -- Ignore unavailable to you. Want to Upgrade?

To: benchpress550 who wrote (599)	2/7/2002 7:48:27 AM
From: benchpress550	Read Replies (1) \| Respond to of 4058

07:37 ET CSCO Cisco helped by deferred revenues; downgraded by Dresdner (18.61) Merrill Lynch says that demand was overstated by roughly $200 mln due to contingent contracts exercised this qtr for products shipped in previous qtrs; maintains near-term BUY rating. Dresdner Kleinwort Wasserstein is less forgiving, downgrading CSCO to SELL from Reduce citing accounting concerns; says that revenue upside came primarily from recognition of deferred revenues, also argues that gross margins would have been 45% instead of 57% had Cisco followed the same accounting practices as its peers.