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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Cooters who wrote (14026)8/20/2004 10:50:39 AM
From: John Hayman  Respond to of 14638
 
snip from the wonderful folks at street.com.

snip>
Go Nortel It on the Mountain

Boy, those folks from Nortel (NT:NYSE - commentary - research) sure know how to inspire investor confidence.

Early Tuesday, the troubled telecom-equipment manufacturer announced that on Thursday morning it would provide "estimated limited preliminary 1st Half 2004 results."

"Estimated limited preliminary" results? Coming 50 days after the second quarter closed? Can you get any more lame, tentative and bet-hedging?

Yes, you can, evidently. On Thursday, when Nortel announced those results, it said that they were not only estimated, limited and preliminary, but also unaudited.

Whoa. It appears that on Tuesday they had been a little reckless. <snip

John



To: Cooters who wrote (14026)8/20/2004 12:14:14 PM
From: Qualified Opinion  Read Replies (2) | Respond to of 14638
 
I'm glad analysts lowered the bar on estimated earnings.

Nortel is targeting annualized cost savings of approximately $450 million to $500 million per the restructuring plan. Combine the cost savings with revenue growth especially with fixed costs being covered. What do you forecast for estimated earnings in 2005 and beyond ?


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