MARKET TALK: Keep Buying Marvell, Hambrecht Says
Edited by Thomas Granahan
Of DOW JONES NEWSWIRES
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MARKET TALK can be found using code N/DJMT
8:52 (Dow Jones) WR Hambrecht keeps buy on Marvell (MRVL), saying company
best-positioned communications chip name in LAN space, with strongest new
product momentum. Continues to recommend buying on dip to participate in
what firm believes will be strong growth phase for company in 2H and in
2002. (TG)
8:43 (Dow Jones) In addition to downward pressure on Tsys prices across
curve from hedges put on in advance of non-govt bond, "people are worried
about inflation" and that's hurting the long bond, says trader in NY. Crude
oil prices are above $30 per barrel, up 8 cents on session, $30.44 for July
delivery (JNP)
8:37 (Dow Jones) Prudential's Ed Koen still looking for S&P 500 close
between 1400-1500 at year-end. Tech offers long-term attraction, but
short-term earnings valuation problems that may last for several months.
Expects investors will increasingly focus on the 80% of market that isn't
tech, and energy, health care, and financial services all seem to offer
attractive fundamentals. (TG)
8:30 (Dow Jones) Looks like more mild weakness for stocks to start out the
week, but similar softness in recent mornings hasn't meant much come closing
time. There isn't a lot in the way of big economic data on the way this
week, but there are a host of Fed officials on the speaking circuit Monday,
always something to keep an ear on. Lowe's (LOW) topped views, Limited (LTD)
met expectations, and Procter & Gamble (PG) is buying Clairol for about $5
billion. Markets generally soft in Europe, Tsys losing a little ground, and
stock futures flat. (TG)
(END) DOW JONES NEWS 05-21-0 |
