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Tuesday, July 11, 2006

WSJ Europe Update

By Yaser Anwar, CSC of Equity Investment Ideas

Lucent Warns on Profit, Revenue
Lucent warned of lower revenue and per-share profit, blaming a drop in sales to U.S. wireless carriers and Chinese customers.

Debt Levels Worry Bondholders
Debt issuance by U.S. firms has surged, but some bondholders complain about using debt to fund stock buybacks and dividends.

Chechen Warlord Basayev Is Killed
Chechen warlord Basayev, who claimed responsibility for some of Russia's worst terror attacks, including the 2004 Beslan school siege, was killed in an explosion. (Russian terror timeline)

CNET to Restate Results Over Options
CNET said it expects restatements that will lower reported earnings for at least three years, citing errant options accounting.

Defense Titans Seek New Israeli Sales
Northrop and Raytheon are pitching defense systems to Israel to counter rocket attacks by militants in the Gaza Strip.

Airbus Trails Boeing in Plane Orders
Airbus won 117 plane orders in the first half, a 58% drop from the year-ago period and less than a quarter of Boeing's orders.

EU Sets Compromise to Cut Roaming Fees
EU officials reached a compromise on a plan to regulate mobile-phone roaming fees.

Vonage Buys Internet Phone Service Patents
Vonage said it bought three patents related to its Internet phone service from Digital Packet. Separately, Vonage was sued for patent infringement by Klausner Technologies, a patent-holding firm.

Sun Pursues Bigger Role in Blade Server
Sun is set to announce a new blade server, a sign that it is determined to play a bigger role in the fast-growing business-computer niche dominated by IBM and Hewlett-Packard.

Wall Street Awaits Earnings
U.S. technology stocks slid, with the Nasdaq falling 13 points, hurt by a sector downgrade and a selloff of chip stocks. The Dow rose 12.88 points to 11103.55, well off the day's highs, as tech weakness hurt the broader market.

Source: WSJ Europe Update

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