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Strategies & Market Trends : Sharck Soup

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To: GREENLAW4-7 who wrote (10379)	2/28/2001 8:18:13 AM
From: Wes Stevens	of 37746

07:59 ET Avanex (AVNX) 23 15/16: -- Update -- UBS Warburg downgrades to HOLD from BUY after company guided down estimates. Based on warning, firm revising its model: FY01 est. goes to $0.15 from $0.27 and FY02 reduced to $0.33 from $0.72... New price target is $18, based on 4x CY02 revenue est Careful on this guy. P/E going forward is still at 126. AVNX will not bottom till tomorrow after margin calls.

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