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

To: Kenneth E. Phillipps who wrote (749)	9/15/1998 3:46:00 PM
From: lib	Respond to of 14638

Wishing everyone would relax. Selling is overdone and this should bottom out fairly soon. Good time to add to positions and double off the money invested already. This will set a new high by year end, mark my words. Relaxing and enjoying the ride, and going to margin the hell out of this.

To: Kenneth E. Phillipps who wrote (749)	9/15/1998 3:50:00 PM
From: lib	Read Replies (1) \| Respond to of 14638

some news on the Canadian side: TORONTO, Sept 15 (Reuters) - Telecommunications equipment manufacturer Northern Telecom Ltd. (Toronto:NTL.TO - news) said on Tuesday it will take a provision in the third quarter to cover a plan to cut 3,500 jobs across the company's 80,000-strong global workforce. ''We're going to take a provision in accordance with Canadian GAAP (generally accepted accounting principles),'' said Nortel spokesman Peter Janecek. He said he could not comment on the amount of the provision. This will be offset somewhat by a gain on the sale of Entrust Technologies Inc., the electronic communications security firm specializing in encryption technology that was spun off by Nortel in August. There may also be a gain on the $325 million sale of Advanced Power Systems to London-based Astec Plc (quote from Yahoo! UK & Ireland: ATB.L), signed last month, but this depends on when the transaction closes, Janacek said. Nortel, the sixth-largest telecommunications company in the world, on Monday confirmed a newspaper report that it will cut about 3,500 jobs worldwide in a bid to shift its focus more toward Internet technologies. The company earlier this month closed its acquisition of Internet technology firm Bay Networks for $9 billion.