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Technology Stocks : All About Sun Microsystems
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To: techtonicbull who wrote (39951)1/2/2001 11:18:34 AM
From: JDN  Read Replies (3) of 64865
 
Dear Techtonicbull: No, it SUCKS just like today. If this BS keeps up I will be wrong. You know that old first 10 days of January rule or whatever. Here is the apparent reason for TODAYS DEBACLE, that old Coot AG should have made reduction in December. JDN

West Coast investment bank Robertson Stephens lowered its investment rating on data availability and protection companies due to weakening demand and softer profit margins. Robertson said it cut its ratings on Veritas Software Corp. and EMC Corp. .

The National Association of Purchasing Management (NAPM) said its purchasing managers' index, a gauge of manufacturing across the United States, tumbled to 43.7, its lowest reading since April 1991, from 47.7 in November. Economists in a recent Reuters survey had expected forecast the index to fall to 47.0.

The weak data reinforced the belief that the Federal Reserve, which had been tightening credit from June 1999 to May of last year, will cut interest rates this month.
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