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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject6/7/2001 10:07:23 AM
From: besttrader   of 37746
 
10:02 ET NEON Comms (NOPT) 4.28 -1.87 (-30.4%): In response to NOPT's April 12 SEC filing, Fiber Optek has filed mechanic's liens to confirm its position as a secured creditor of the company. Privately held Fiber Optek took the actions after NOPT stated that it has " experienced, and are currently experiencing, cash flow problems. We may be required to seek protection from our creditors under the federal bankruptcy laws."

Bed Bath & Bynd (BBBY) 29.56 -0.80: Banc of America Securities downgrades to MARKET PERFORM from BUY; home furnishings specialty retailer HomePlace announces the final round of 84 store closures between May and July; expects negative comps at Bed Bath & Bynd due the deep discounting and closures.

AnnTaylor (ANN) 35.48 -0.28: Reports total May net sales increased 4.1% to $109.33 mln from $105.04 mln year-ago; comparable store sales for the period decreased 9.6% compared to a comparable store sales increase of 3.1% for the same period last year; clients did not respond well to the vibrant pink and orange color palette and emphasis on fashion-forward prints; sales in the Ann Taylor division also suffered from an anticipated under-emphasis on classic go-to-work styles, more contemporary styling than clients prefer and some lingering fit issues; see press release.
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