I was looking at the charts of a few different commodities last night over on the future source web site and I saw very little inflationary issues from the prices and charts viewed, fwiw. While we know that oil prices are doing their job in creating inflation, I just didn't see a lot of other commodities adding to the inflationary fire. Corn, for example, looks like it's near a 10 year low . At this time I have to agree with some of the comments coming from the FED folks that the looming recession is more important to combat than what appears to be phantom inflation.
JP Morgan on capex slowdow
--7:34am - By Susan Lerner
J.P. Morgan Securities on Thursday downgraded Sycamore Networks (SCMR) to "market perform" from "buy" and
slashed estimates for Sycamore, Ciena (CIENA) , Corvis (CORV) , ONI Systems (ONIS) , Tellabs (TLAB) , and
Foundry Networks (FDRY) to reflect the extended capital spending slowdown. In making the changes, analysts
Jeffrey Lipton and Erik Suppiger said they had been hopeful that carrier spending would reaccelerate toward the
end of 2001 but there has not yet been clear signs of the bottom and that they now believe the current spending
slowdown could extend beyond the second half of this year.
Taiwan Semi warns on sales
--3:52am - By Vivian Chu
Taiwan Semiconductor Manufacturing Company said it expects sales revenue for the first quarter of 2001 will
decrease 26 percent from the fourth quarter of 2000, about one percent lower than an earlier forecast of a 25
percent decline. "The global semiconductor market continues to slow for the first quarter of 2001," it said in a
statement, though it added the industry cycle is expected to trend upward gradually in the second half of 2001. In
February 2001, TSM's sales rose 28.8 percent to 11.614 billion Taiwan dollars ($357.9 million) from the year-ago
period, yet fell 28 percent from January 2001. TSM is the world's biggest contract maker of chips. On Thursday,
their shares fell 1.6 percent to 90.50 Taiwan dollars. |
