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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: Ibexx who wrote (75274)	4/17/2001 11:56:47 PM
From: Dave Kiernan	Read Replies (1) of 99985

INTC's Q1 profits were down over 80% and warned that coming quarters will continue to be affected by the economic slowdown. Even with an 80% earnings hit, the result beat the greatly lowered expectations. The result was an after hours pop of over 10%. This is an interesting result. It may suggest that the smartest corporate execs have taken the opportunity to "overwarn" - deciding the take the hit during generally bad times to position themselves to beat estimates when things turn back up. It's a variation of the trick that companies like MSFT have been using for years to manipulate analysts toward earnings estimates that they know they can beat. We may never know for sure whether INTC purposely overwarned, but the idea gives many hope that perhaps things will be better than expected for at least the better managed blue chips. my comment: and hopes that Big Blue can maintain their 'Accounting Accumen.' 3mtinc.com

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