Yep, Thanks, though the revision in home sales was reported last night so I figured the futures would have reflected that earlier. I found these too which may be pressuring things a bit that I just posted on our board....
By L3_Aka_L3 on Thursday, March 08, 2001 - 09:03 am: Edit
Salomon Smith Barney also lowered multiple storage stocks, due to expectations that the group will be under pressure in the near- term. The firm dropped Brocade Communications (BRCD), EMC Corp (EMC), and Inrange (INRG) to "Accumulate" ratings from "Buy" ratings and lowered Network Appliance (NTAP) to a "Hold" from an "Outperform."
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Copper Mountain (CMTN: news, msgs, alerts) shares plunged 26 percent in pre-market trades on the Island ECN. The stock changed hands at $3.63, down from its $4.93 close. The company plans to cut more than 100 jobs in an effort to reduce costs amid a decline in customer purchases.
Shares of Cree (CREE: news, msgs, alerts) shed 20 percent, or $5.00, to $20.44 on the Island ECN after the research firm warned of a fourth-quarter shortfall. The company cited an increasingly competitive and slowing market for LED chips.
CNet (CNET: news, msgs, alerts) slid 5 percent, or 56 cents, to $10 after the media firm warned of a shortfall in its financial forecast. "As we've seen over the past few weeks, several major technology companies have announced slower expected sales this quarter and, as a result, many have deferred their marketing and advertising spending," the company said.
Investors bit into shares of Krispy Kreme (KREM: news, msgs, alerts) , which traded up 6 percent to $78.88 from their close of $74.06 on Instinet. The doughnut maker said it's moving to the New York Stock Exchange with the ticker KK. The company also beat earnings forecasts.
In other Instinet trading, shares of EBay (EBAY: news, msgs, alerts) traded at $42.30, down slightly from their close of $42.50. AOL (AOL: news, msgs, alerts) dipped 30 cents to $45 per share.
Tellabs (TLAB: news, msgs, alerts) fell $5.75, or 12 percent, to $42.94 on the Island ECN after the tech firm dropped its first quarter expectations due to below-trend growth in its CableSpan unit. First-quarter earnings are now expected to be 35 to 38 cents vs. an expected level of 39 cents a share.
Shares of Ciena (CIEN: news, msgs, alerts) traded at $75.25 on the Island ECN, down from their close of $75.31. JP Morgan lowered estimates for the company and other optical networkers to reflect flattening growth.
www2.marketwatch.com
By L3_Aka_L3 on Thursday, March 08, 2001 - 08:54 am: Edit
AMSTERDAM, March 8 (Reuters) - Hewlett-Packard Co. (H-P)
said on Thursday it had cut by 28 percent the price it charges
European service providers for its newest computer servers.
The U.S.computer and printer maker cited stiff price
competition from rivals Sun Microsystems -SUNW.O- and IBM
-IBM.N-.
H-P said the average base price of its LP1000r and LP2000r
net servers, launched in January and sold to Internet and
application service providers (ISPs/ASPs) and telecom carriers,
would drop to about $2200 from an average of about $3000.
"It's a price war... this is our most important market in
Europe," said a spokesman.
"Over 40 percent of HP's business to business revenue is
generated from or related to the telecommunications or A/ISP
sector," H-P said in a statement.
H-P warned in mid-February that its full-year 2000/01
earnings were likely to fall short of expectations, blaming the
declining U.S. economy.
In late February, Moody's Investors services said it had
placed H-P long-term credit ratings under review for a possible
downgrade citing increased competition and profit pressure in
personal computers, servers and other H-P markets.
The servers are Intel-based and can be run on Microsoft
Windows NT -MSFT.O- or Linux operating systems. |
