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Strategies & Market Trends : The New Economy and its Winners

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To: microhoogle! who wrote (4402)	12/21/2000 4:56:51 PM
From: Bill Harmond	of 57684

From Briefing:"Virata (VRTA) 8 11/16 -5 3/8: -- Update -- Banc of America Sec downgrades to MKT PERFORM from STRONG BUY following company's downside preannouncement for the December 2000 and March 2001 quarters; the shortfall is attributed to the cancellation of 40% of contractually agreed to shipments to VRTA's largest customer Westell; believes VRTA forced shipments into this channel and has strained the relationship with the greatest damage being negative industry wide reputation ramifications; says based on recent information and additional factors such as a softening telecommunications business, Virata's business model is in extreme peril." From my experience Alex Guana (the analyst involved) is tops, but he's also quite emotional. From the market's treatment of this news I don't know how much weight to put into his "industry reputation" issues, particularly in light of Cisco's warming to the company. I'm obviously checking further. Forcing distribution is horrible.

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