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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: elepet who wrote (24932)	1/28/2000 1:45:00 PM
From: Johnny Canuck	Read Replies (2) of 68201

I have not had a chance to hear all of the NEWP conference call. I only caught the last few minutes. It looks like JDSU does not need any more passive test equipment. They just require active test equipment in which NEWP specializes. The $2.7 million in cash is a concern as they will not have the money to expand their business quickly. Note that optical testing equipment only makes up 25 percent of the revenue. This up from 14 percent(?) last year. Fair value for NEWP is $68 based on the current EPS estimates. Estimates will be revised up, so the current price increase may be justified. Given the Fed meeting next week there is no reason to chase.

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