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Strategies & Market Trends : Quarter to Quarter Aggressive Growth Stocks

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To: Jack Hartmann who started this subject	12/30/2000 1:10:58 AM
From: Jack Hartmann	Read Replies (1) of 6924

INKT and Bear Stearns Bear Stearns Cuts Ratings on Inktomi, CacheFlow By Yi Ping Ho Staff Reporter 12/29/00 1:27 PM ET Shares of Inktomi (INKT:Nasdaq - news) touched a two-year low today after Bear Stearns downgraded the stock to attractive from buy, citing the effects of a slowing economy. Shares of the Foster City, Calif., company, which makes Internet search and traffic management technology, hit $17.81 today after opening at $18.19 on the Nasdaq. The shares were lately trading down $1.81, or 9.1%, to $18.25. In a research report, Bear Stearns analyst Robert Fagin said, "we have been particularly shocked by how abruptly many Internet infrastructure and services companies have seen orders slow or be canceled." Fagin also downgraded computer network company CacheFlow (CFLO:Nasdaq - news) to neutral from attractive. Shares of CacheFlow lately lost $3.69, or 17.6%, to $17.38 in midday trading on the Nasdaq, breaking through a 52-week low. The shares traded as low as $16.25 today. The high for the year is $161.38. Fagin said he expects Inktomi to be well-positioned in the long term if the economy rebounds in the second half of next year. thestreet.com What is odd is Fagin's report goes on to other facts. - survey of 111 IT professionals expect to spend 40% more on caching technologies in 2001 - forecast for 2003 caching market is 2.3B and probably will be raised to 2.4-2.5B - good candidate for rebound if the FED loosens - INKT is market share leader in caching I have read several reports on the INKT downgrade, but this analysis was not read through by TSCM and others. Jack

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