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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who started this subject6/12/2001 10:00:58 AM
From: allen menglin chen   of 6873
 
09:16 ET EMC Corp (EMC) 31.91: Morgan Stanley says that EMC's Q2 is tracking slowly, says the weak economy plus the fact that EMC pushed hard in Q1 continue to be issues, and checks show that pricing is still fierce; firm trims Q2 estimate by a penny to $0.17; also cuts gross margin estimates slightly for 2001-03.

08:59 ET Gapping Up : LOUD +36% (to provide music samples for MSN)... NAVI +16% (posts narrower-than-expected loss; reaffirms guidance)... AXYX +10% (Bloomberg story on company's experimental Alzheimer's treatment)... FFIV +4% (Merrill starts coverage)... WFII +3.5% (Siemens contract)... CMGI +3.5% (up in sympathy with subsidiary NAVI)... DELL +1.5% (Morgan Stanley upgrade).

08:48 ET Nokia Fallout : The following stocks are being hit in pre-market as investors exit issues with a Nokia connection: NOK (-16%), RFMD (-13%), OPWV (-9%), ERICY (-9%), TQNT (-9%), QCOM (-5.5%).

08:45 ET Gapping Down : PRCS -37% (FDA rejects new drug application)... AFFX -29% (warns of disappointing revs)... EXAR -13% (earnings warning)... RIMM -10% (Merrill downgrade)... FCEL -8% (prices secondary in the hole)... QGENF -7% (down in sympathy with AFFX).

08:05 ET Research In Motion (RIMM) 31.69: Merrill Lynch downgrades to a near-term NEUTRAL from Accumulate due to concerns that US inventory issues could negatively impact the next quarter or two; cuts revenue estimates for next two quarters by a total of $9 mln; says this is a short-term concern but wants to wait on the sidelines given risk to Aug qtr.

07:57 ET Affymetrix (AFFX) 40.95: -- Update -- Robertson Stephens downgrades to MKT PERFORM from Buy as a result of diminished visibility and lowered outlook for rev. and EPS growth for the foreseeable future. Expects AFFX shares to come under significant selling pressure today... AFFX also being downgrade by Banc of America Sec. to Mkt Perform from Buy.

06:52 ET FuelCell Energy (FCEL) 80.58: Company formally announces public offering of 3 mln common shares, pursuant to an earlier shelf registration statement. While company does not disclose the pricing level of the offering in its press release, Briefing.com is hearing from sources that the deal is going out at $72.50 a share, a 10% discount to yesterday's closing price.

07:42 ET Dell Computer (DELL) 25.26: -- Update -- Hearing from sources at Morgan Stanley that firm upgrading box maker to OUTPERFORM from Neutral following dinner meeting with management last night; believes that negative revisions to EPS forecasts are behind us. Firm has a price target of $33... DELL shares climb 1.25 in pre-market.

08:11 ET F5 Networks (FFIV) 11.80: Merrill Lynch initiates with a BUY rating and $22 target; calls company the comeback kid and says that its technology is starting to see broader adoption by enterprise customers.
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