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

To: Steve Warkentin who wrote (4378)	9/30/1998 11:52:00 AM
From: Mark Palmberg	Read Replies (1) \| Respond to of 21876

"Lucent, the top seller of phone equipment in North America, said it's isn't seeing a slowdown and is taking market share for Northern Telecom, Alcatel and Motorola." Well this seems to sum it up for me.......I'm holding. I'll second that. Does anyone honestly believe that Lucent management would be so stupid as to fly in the face of all the negative sentiment in the sector if they weren't kicking some major bootie? If they miss this quarter's earnings without warning anyone, they will be crushed. But it won't happen. Come on, Lucent at $68 is the very definition of a no-brainer. Buy on the way down. Meanwhile, AT&T has been inconspicuously climbing over the past couple weeks. Very interesting. Anyone else been keeping tabs on them? Holding LU, Mark

To: Steve Warkentin who wrote (4378)	9/30/1998 12:46:00 PM
From: Anthony Wong	Read Replies (2) \| Respond to of 21876

09/30 11:59 Telecom gear makers off on downgrades, Nortel news NEW YORK, Sept 30 (Reuters) - Shares of telecommunications equipment makers dropped on Wednesday after Canada's Northern Telecom Ltd. (Toronto:NTL.TO - news) warned its third quarter revenues would fail to meet Wall Street expectations and analysts cut their ratings on companies throughout the industry, analysts said. ''It's the Nortel event. The company created a little bit of confusion at the conference. People came away a little less than impressed. The general feeling about the industry is less positive,'' said Truc Do, a telecommunications equipment analyst with SoundView Financial Group. Nortel on Tuesday told analysts its third quarter revenues would fail to meet expectations but earnings would match the consensus analysts' estimate of $0.38 a share compared with $0.30 a share a year ago. Nortel cited softness in some product lines, U.S. dollar strength versus other currencies and weakness in the wireless telephone division. Nortel's revenue warning followed an earnings warning earlier this month from French telecommunications equipment Alcatel (NYSE:ALA - news), which cited a drop in orders from its traditional client base and the crisis in Asia and Russia. Two other telecom equipment makers -- CIENA Corp. (Nasdaq:CIEN - news) and Tellabs Inc. (Nasdaq:TLAB - news) -- also recently canceled their proposed merger after Ciena lost hopes for a major contract from AT&T Corp. (NYSE:T - news) and warned of lower-than-expected third quarter earnings. This collection of grim news, in addition to price wars and fears of lower equipment spending by the regional Baby Bell phone companies and the merged MCI WorldCom Inc. (Nasdaq:WCOM - news), has cast a cloud over the industry, analysts said. Despite earnings warnings by others in the industry, Lucent Technologies Inc. (NYSE:LU - news) said Wednesday said it stood by its previous statements that it was comfortable with Wall Street earnings estimates for 1998 and it continued to be optimistic about its growth prospects going forward. Warburg Dillon Read on Wednesday downgraded Nortel to hold from buy and cut ratings on others in the industry, including PairGain Technologies Inc. (Nasdaq:PAIR - news), ADC Telecommunications Inc. (Nasdaq:ADCT - news) and Tellabs Inc. (Nasdaq:TLAB - news) Warburg Dillon Read analyst Nikos Theodosopoulos cited continued concern about 1999 earnings for the equipment group due to slower growth in the U.S. market and uncertainties overseas. Theodosopoulos said in a research report the U.S. market is currently growing at about 17 percent, a slower rate than the 25 percent growth seen in 1997 and 1996. BT Alex. Brown also Wednesday downgraded Lucent, but details were not immediately available. biz.yahoo.com