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

To: daaan who wrote (949)	9/29/1998 2:53:00 PM
From: Bosco	Respond to of 14638

all - here is the piece from Briefing.com, Nortel got the coincidental distinction of bunching together with the FED headline Updated: 29-Sep-98 14:00 -- 15:00 ET (Updated throughout the hour)****** Northern Telecom Ltd. (NT) 35 1/2 -5 1/4: shares of telecommunications equipment maker are headed lower after the company warned at a New York analyst meeting that it would not meet Q3 estimates; it is not clear whether the company cautioned about revenues or earnings, but in the current market atmosphere, investors are not taking any prisoners; according to First Call, NT is currently projected to earn $0.38 a share in Q3, vs year-ago net of $0.30 a share; earlier in the day, the company lauded its acquisition of Bay Networks, noting that merger was working and the Bay would help NT gain market share..... Fed Policy: the Federal Open Market Committee voted to lower the Fed funds rate by 25 basis points to 5.25%; discount rate remains unchanged at 5%; reduction is in line with how Alan Greenspan tends to move (gradually), and it somewhat of a disappointment for the market..... best, Bosco