they're pushing the telecoms down today because of a note from morgan stanley about ericy. looks like dell is caught in the crossfire.
i guess dell qualifies as a telecom stock now too? whatever
someone runs a rumor that morgan stanley is dumping 3 million shares of ericy. if it works, why not... looks like Ericy doesn't agree
Ericsson 2001 Earnings Forecast May Be Cut by Morgan Stanley
11/6/00 10:03:00 AM
Source: Bloomberg News
London, Nov. 6 (Bloomberg) -- Morgan Stanley Dean Witter & Co. said it may reduce its 2001 earnings per share forecast for Ericsson AB, a research official at the investment bank said.
Morgan Stanley will probably reduce its estimate for the biggest maker of wireless networks to 2.69 Swedish kronor a share, from 2.76 kronor previously, the official said. The final estimate is expected tomorrow, he said.
Angela Dean, a Morgan Stanley analyst who covers the company, wasn't available to comment. Ericsson shares dropped 7.5 kronor, or 5.4 percent, to 131 amid speculation that a brokerage had cut its forecast.
Ericsson said it hadn't been advising analysts to change their forecasts.
''We haven't given any other guidance than the one we gave in conjunction with our earnings report,'' said Pia Gideon, head of external relations at Ericsson. ''This is a typical sign of the market being nervous
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