Sheesh, stay away for a week and I miss a whole 800 point rally in the Dow! Here's some analyst squawk from briefing that people may find useful in figuring out the picture (I sure as hell don't anymore - at least not with the chip equipment makers).
08:17 ET B of A Starts Chipmakers : -- Update -- Banc of America Sec. initiates coverage of 14 chip stocks all with MKT PERFORM ratings; says it's too early to overweight the sector, backlog cancellations are slowing, but bookings remain disappointing. Estimate global semi sales to contract 15-20% in 2001. Issues started: AMD, ALTR, ADI, ELNT, INTC, LLTC, LSI, MCRL, MCHP, MU, NSM, SMTL, TXN, XLNX.
11:30 ET Goldman Sachs Call : Goldman just squawked that analysts Rick Sherlund and Laura Conigliaro are saying that: business is terrible across industries; we are in a capital spending recession; peak preannouncements will be next Monday/Tuesday; companies that don't warn will guide lower with their earnings reports; any rallies will be led by short-covering and difficult to sustain. |
