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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Anonymous who wrote (20924)10/11/2002 7:51:57 AM
From: GVTucker  Read Replies (1) | Respond to of 21876
 
Mostly negative news this morning from Lucent.

Lucent is going to cancel a credit facility to avoid default.

In the announcement, they stated that they have about $4.4 billion in cash right now, which is a decline of $1 billion for the recent quarter. That's some serious burn, no matter what the excuses are.

One positive piece of news is that revenues for the quarter ended 30 Sep will be down 20-25%, within recent guidance.

lucent.com



To: Anonymous who wrote (20924)10/11/2002 11:43:49 AM
From: Anonymous  Respond to of 21876
 
How's this for an idea? An idea in creative accounting that Samuelson never wrote about in Economics 101. LUCENT should sue the tobacco companies for second hand smoke damages ... maybe they could get a settlement in excess of 28 billion. That would certainly fill up their coffers and allow them some super burning power.


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