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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Glenn who wrote (28962)	4/18/1999 10:55:00 PM
From: Kedels	Respond to of 90042

LUCENT CLOSED AT 57 ON FRIDAY....SHOULD REBOUND SHARPLY THIS WEEK! (SEE ARTICLE FROM LAST THURSDAY) Lucent shares rally on strong forecast NEW YORK, April 14 (Reuters) - Shares of Lucent Technologies Inc. (NYSE:LU - news) gained more than 5 percent on Wednesday, recovering some of their recent losses, after the telecommunications equipment maker said its second quarter results would meet or beat Wall Street expectations. Shares of Lucent, the second most widely-held stock after its former parent AT&T Corp. (NYSE:T - news), were up $3.375 to $60.31. The stock was among the most heavily traded issues on the New York Stock Exchange, with nearly 7 million shares changing hands. The shares had fallen about 12 percent over the past week amid concern that Lucent's revenues would fall below Wall Street expectations. The Murray Hill, N.J., company countered those fears after the stock market closed on Tuesday, saying it was on target to post fiscal second quarter revenues of more than $8 billion, a 30 percent increase over the year-ago quarter and roughly in line with analysts' expectations. Lucent said it expected its second quarter profits to meet or beat analysts' consensus estimate of 15 cents a share. The company also reiterated that it expects fiscal 1999 revenue growth of 19 to 20 percent and earnings per share growth of about 35 percent, excluding one-time items. ''There's still some lingering malcontents out there about this stock, but as far as we're concerned the news is all good,'' said Sanford Bernstein analyst Paul Sagawa. ''We expect the company is going to be optimistic and aggressive on its conference call next week.'' He added, ''Lucent has momentum in spades.'' Some analysts said they were surprised that Lucent's stock did not jump higher this morning. But they said the moderate gains reversed the recent downward momentum and the stock should continue to move higher as the company's earnings reporting date approaches. Lucent is to report its results for the second quarter, ended March 31, on April 22. Lucent has beaten Wall Street's earnings forecasts every quarter since it was spun off from AT&T in 1996. However, in the quarter ended Dec. 30, a delay in finalizing some contracts damped Lucent's revenue growth and spooked some investors. --------------------------------------------------------------------------------