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Technology Stocks : Vitesse Semiconductor
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To: Kenya AA who wrote (3252)1/11/2000 11:45:00 AM
From: Neil H  Read Replies (1) of 4710
 
In today at 47

This from Thomsonswatch

11-Jan-00 11:07:09 This morning, Vitesse Semiconductor reported in-line FY00 1Q results of $0.14 per share. However, VTSS has slipped $2 3/16 to trade at $47 3/8 on heavy volume. In the flood of research notes that hit the wire this morning, a few analysts mentioned hopes of a slight upside report?- in fact, the ?whisper? number for Vitesse?s earnings was $0.15. A shortfall in revenue from the company?s ATE division cut into some of VTSS' earnings. Despite the decline in revenue in ATE, the research notes are upbeat and several analysts have reiterated their positive ratings on the stock. It is worth considering that VTSS has been under pressure during the past several trading sessions on concerns related to the firm?s largest client, Lucent Technologies (LU). While analysts note that the rising revenue from LU (8% sequential growth during FY1Q) it is possible that investors remain concerned that a shortfall in Lucent could present issues with Vitesse. In the pre-trade market, bargain- hunting investors are offering support around $46 3/4-$47, as illustrated on I-Watch. However, the data also indicates a few aggressive-growth investors are looking to pare their positions, offering shares as low as $47 1/4. Institutional investors are active in the session, with block trades contributing to 38% of the total revenue. VTSS has already outpaced its typical volume with over 3 million shares traded compared to the average daily volume of just 2 million shares.

Regards

Neil
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