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To: Johnny Canuck who wrote (39959)	7/23/2003 12:35:57 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69326

10:59AM Westell Tech. tumbles amid DSL Modem sales shortfall (WSTL) by Tomi Kilgore NEW YORK (CBS.MW) -- Westell Technologies (WSTL) are getting knocked $2.59, or 24 percent lower, to $8.30 after the broadband access company reported fiscal first quarter results. The company said late Tuesday that it earned $4.6 million, or 7 cents a share in the quarter ending June on revenue of $55.3 million, versus year-earlier earnings of a penny a share and revenue of $49.8 million. Analyst Anton Wahlman at Needham said that while overall results were in line with expectations, DSL Modem sales of $30 million were down sequentially and below an anticipated $35 million. Wahlman added that at current valuations, the stock was fully valued given the company's relatively weak balance sheet. 10:52AM VocalTec sees possible sequential decline in Q3 revs (VOCL) by Michael Baron NEW YORK (CBS.MW) -- VocalTec (VOCL) shares dropped more than 29 percent to $4.33 after the company posted a second-quarter loss of $972,000, or 8 cents per share, narrower than its year-ago loss of $1.9 million, or 16 cents per share. Last year's quarter includes a gain of $1.8 million on an investment sale. Revenue, however, fell 12 percent in the latest three months to $6 million from $6.8 million in the same period a year earlier. Looking ahead, the company cautioned that third-quarter revenue might decline on a sequential basis due to difficulty in predicting the timing of expansion of its customers' networks, and its own market transition to national long distance from international long distance. With cash, cash equivalents and short-term investments totaling $16.6 million as of June 30, VocalTec said it remains confident that it has sufficient cash to fund operations through to profitability. 10:44AM API reports smaller fall in crude stocks by Myra P. Saefong SAN FRANCISCO (CBS.MW) -- The American Petroleum Institute reported a 700,000-barrel fall in crude stocks for the week ended July 18 -- lower than the 2.3 million-barrel decline reported by the Energy Department. Supplies now total 277 million barrels, the API said. Gasoline supplies fell by 1.1 million barrels to 208.4 million barrels and distillate inventories stand at 113.8 million barrels, up 400,000 barrels from the previous week, the API said.