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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/4/2001 3:40:08 PM
From: besttrader   of 37746
 
15:27 ET Imclone Sys (IMCL) 39.99 +2.98 (+8%): -- Update -- The "60 Minutes" story on the "compassionate use" of experimental drugs (access to drugs before they have received FDA approval) will air on Sunday. Segment will profile two women who lobbied to gain access to ImClone's C-225 cancer treatment. ImClone declined to be interviewed for the story.




15:15 ET Rambus (RMBS) 15.50 -2.65: -- Update -- In a press release posted on the Rambus site, the company says that it plans to appeal today's court ruling; also notes that ruling only involves 4 patents and that there are a dozen US and European patents involved in other infringement cases that are still pending against IFX, Hyundai, and Micron (MU).




15:04 ET Rambus (RMBS) 15.50 -2.65: -- Update -- Edelstone did downgrade to NEUTRAL; saying that judge has granted Infineon's (IFX) motion for summary judgment; effectively ruling against Rambus' patent claims. Edelstone sees downside in stock to $10-12.




14:58 ET Rambus (RMBS) 15.50 -2.65 (-14.6%): -- Update -- In a comment yesterday, Rambus bull Mark Edelstone (Morgan Stanley) said that his rating would be under review if company lost the Infineon case. Hearing reports that Edelstone just dropped his rating to a NEUTRAL from Strong Buy. Stock still halted news pending.




14:50 ET Cypress Semi (CY) 22 unch: -- Update -- At the Merrill Lynch Hardware Tech Conference CY reiterated outlook for Q2 revenue ($200-$210 mln) with earnings expected to be single digit; does not believe will see recovery in WAN/SAN market until early 2002 with no real reduction in inventory in March qtr; April business stronger than January; North America stable but Europe slightly weaker.




14:46 ET Rambus (RMBS) 15.50 -2.65 (-14.6%): Stock halted for trading -- news pending. Would suspect that the news has something to do with company's legal battle with Infineon Technologies AG.




14:34 ET Imclone Sys (IMCL) 39.70 +2.69 (+7.3%): Issue benefiting from rumor that company's C255 cancer drug to be discussed as part of a "60 Minutes" segment on compassionate drug use.




14:06 ET Mattson Tech (MTSN) 16.94 -0.53 (-3%): Semiconductor equipment maker to cut US workforce by about 15% and reduce executive pay by 10%. "This downturn came about very quickly, leaving no equipment supplier immune."




13:59 ET Merrill Lynch (MER) 67.74 +1.74 (+2.6%): Stock helped out by resurfacing of rumor that HSBC Holdings is planning to make a bid for the brokerage house. Speculation stoked by HSBC's plan to increase its share capital. Many skeptical of any such deal being imminent.
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