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Technology Stocks : C-Cor Electronics-CCBL

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To: Jim Oravetz who wrote (163)	5/17/2000 5:04:00 PM
From: Jim Oravetz	of 235

Update: Harmonic (HLIT 54 7/8 -10 7/8) Issue coming under pressure after HLIT filing with the SEC indicates that company's Divicom unit not growing as fast as expected; company's CFO now projecting 20% growth for the 2nd qtr vs previous estimate of 30%. Issue continues to come under pressure as analysts cut estimates in response to weak growth experienced by company's Divicom in latest qtr... Stock now down 22.5% on volume of 6.1 mln shares, or approx. 4x average daily turnover... Although SG Cowen cutting its Q2 growth forecast for Divicom from 30% to approx. 20%, firm still expects deal to be accretive to HLIT earnings; firm blames Divicom's growth of only 3% in the qtr to merger-related distractions. CIBC Wrld Mkts reiterates BUY rating and price target of $150 on fiber optic systems company. Maybe some of this is spilling over into CCBL. Tech's have taken a bruisin' lately. Jim

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