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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: Logain Ablar who wrote (2308)5/9/2001 4:40:15 PM
From: John Pitera   of 2850
 
HLIT update--- it may just survive.

Harmonic (HLIT) 7.50 +1.61: As you can see by its chart, Harmonic used to be a trader favorite, but like many of its brethren has fallen on hard times. Harmonic sells digital and fiber optic systems for delivering video, voice and data services over cable, satellite, telco and wireless networks. However, the stock has been on a tear since late yesterday. The catalyst was the inking of a deal with Cox Communications (COX) whereby Cox will use a suite of Harmonic products to support multiple system upgrades throughout Oklahoma and Kansas. They key to the deal is that HLIT has been selected for Cox's first rollout of DWDM. HLIT investors are excited for a few reasons. It shows that its products are good enough to be used by a major cable operator which also should lead to additional business from Cox as it expands its network. This deal could spring deals with other operators. The company also recently announced that DIRECTV, a provider of digital satellite television service, will utilize Harmonic's advanced digital television systems to broadcast additional local channels next year....These news items are welcome for a company suffering from declining capital spending by its major customers causing numerous warnings from management over the past few months. The company is organized into two product divisions, Broadband Access Networks (BAN) for fiber optic systems and Convergent Systems (CS) for digital headend systems. Mgmt expects gradual improvement in its CS division while the BAN division has seen growing interest in its new architectures...While it still needs to prove itself, HLIT is attractive as a cheap broadband play that will survive. -- Robert J. Reid, Briefing.com
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