Larry, don't know if this is what you were talking about, but Chuck Boucher apparently jumped from DLJ to Bear Stearns and started the chip group. Hung a neutral on MU.
Micron Technology Rated New 'Neutral' at Bear Stearns
Bloomberg News
August 23, 1999, 1:26 p.m. PT
Princeton, New Jersey, Aug. 23 (Bloomberg Data) -- Micron Technology Inc. (MU US) was rated ''neutral'' in new coverage by analyst Charles F. Boucher at Bear, Stearns & Co.
news.com
Maybe that explains part of the last hour and a half.
David Wu is in the lead of this month's "reiteration sweepstakes".
8/23/99 Abn Amro reiterates buy, target $85, based on firming contract and spot prices...
8/6/99 Abn Amro reiterates buy, target $70, we anticipate further raise of DRAM prices driven by strong OEM demand...
7/28/99 Abn Amro reiterates buy, target $70, LT target $100
7/23/99 Abn Amro reiterates buy, 6 - 12 month price target of $70
7/19/99 Abn Amro reiterates buy, raised target $60 to $70
nordby.com
The only problem with the above is:
Micron Technology Inc. Reiterated 'Strong Buy' at ABN Amro
Bloomberg News
August 23, 1999, 5:33 a.m. PT
Princeton, New Jersey, Aug. 23 (Bloomberg Data) -- Micron Technology Inc.
(MU US) was reiterated ''strong buy'' by analyst David Wu at ABN Amro.
The 6 to 12-month target price is $ 85 per share.
news.com
AND
Micron Technology Inc. Reiterated 'Buy' at ABN Amro
Bloomberg News
August 6, 1999, 5:55 a.m. PT
Princeton, New Jersey, Aug. 6 (Bloomberg Data) -- Micron Technology Inc.
(MU US) was reiterated ''buy'' by analyst David Wu at ABN Amro.
The 6 to 12-month target price is $ 70 per share.
news.com
So when did he raise it to a "strong buy"?
26 trading days 7/19-8/23; 5 reits = 1 ABN Ambro retieration every 5.2 trading days.
At this point, I think the next step is cutting an EP, making a video, and getting it into heavy rotation on MTV.
Maybe something like [warning: satire ahead]:
Yo, yo, yo
Word, up, I'm David Wu
ABN Ambro is my crew
Now I'm not Dutch
But in the clutch
I'll pump this [rhymes with trucker]
Like a bunny in the hutch
I'm David Wu
I like MU
I'm David Wu
I like MU
I'm David Wu
I like MU
I'm David Wu
I like MU...
(Spoken) Yo, homey, pick me up a forty of St. Ides,
Some blunts,
And 50,000 shares of my favorite securit-TAY...
Something like that. For the visuals, you definitely have to work in somewhere:
1) him chillin' in a hot tub with a bunch of Dutch babes;
2) him poppin' a cap in the ass of some guy dressed up to sort of resemble Fleck [of course, then Fleck comes out with his own record dissing Wu...but the sound is more like Limp Bizkit...only good];
3) random shots of sheep running back and forth (the financial press);
4) some vague subplot involving Wu (outfitted in LA Kings gear) piloting a submarine - just because subs are cool.
This could work!
Good trading,
Tom
Disclaimer: the above is not intended to imply that David Wu imbibes malt liquor, smokes blunts, or is licensed to pilot a submarine <g> |
