We believe that most of the issues impacting Lucent's September quarter results are company specific. Even increasing bad debt reserves because of emerging service provider credit concerns reflects Lucent's aggressive policy towards providing vendor financing.
More Quotes from Michael Ching:
Lucent has run up recently on media discussion of being a take-over target. We believe that in the current environment, this is a possibility.Michael Ching
I wasn't even informed that it was up today.
Michael Ching
Management did outline several actions that they plan to take that should help return the company to more profitability. This will include several hundred million dollars in charges in the December quarter.
Michael Ching
With the restructuring essentially finished, we expect investors to now focus on 3Com's emerging technologies and its bottom line. We continue to look for the company to report a breakeven fourth quarter, although earnings per share could turn positive in the second quarter due to non-operating gains.
Michael Ching
The magnitude of this adjustment ... is cause for concern. It is unclear how quickly Lucent will be able to implement, and track, a more conservative set of policies.
Michael Ching
Our view remains unchanged from our recent update on capital expenditures. We believe that in 2001 cap-ex will be up approximately 10 percent. We continue to forecast 17-18 percent industry growth in 2001. We expect the stocks to remain under pressure over the next few weeks as investors digest capital spending plans from carriers.
Michael Ching
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