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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who started this subject5/24/2001 9:15:49 AM
From: allen menglin chen   of 6873
 
07:33 ET American Eagle (AEOS) 38.16: Reports Q1 earnings of $0.21 a share, a penny above consensus, vs yr-ago EPS of $0.17; sales increased 41.3% to $251.5 mln.

07:07 ET priceline.com (PCLN) 5.25: Delta Airlines (DAL) files with SEC to sell 5 mln shares of priceline.com stock "as soon as practicable."

07:26 ET Hot Topic (HOTT) 34.26: Robertson Stephens downgrades to MKT PERFORM from Buy to reflect concerns that weaker comp-store sales gains resulting from product flow issues could prevent HOTT from posting the upside to EPS that firm believes has been implicitly priced into stock's premium valuation.

08:34 ET Networkers Initiated : First Union starts coverage of networking equipment stocks. Extreme Networks (EXTR) and Foundry Networks (FDRY) receive MKT PERFORM rating; in FDRY's case, analyst cites near-term risks associated with a tightening economic environment, the company's relatively high exposure to service provider spending and a lack of visibility for 2Q01. Sonus (SONS) and Redback (RBAK) get BUY ratings with 12-18 month price targets of $40 and $21, respectively.

08:31 ET Economic Data : Initial jobless claims for the week ended 5/19 rose 15K to 407K (consensus 390K).

09:05 ET Plug Power (PLUG) 28.17: Receives $7 mln contract from a public utility to supply 75 of Plug Power's first commercial fuel cell systems together with installation, maintenance, training, engineering and other technical support services.

09:03 ET i2 Technologies (ITWO) 25.86: -- Update -- Company and IBM Corp (IBM) announce a joint solution of services and software to advance the adoption of next-generation Supplier Relationship Management for the high-tech industry.

08:15 ET Handspring (HAND) 10.05: Bear Stearns lowers estimates based on continued weakness in consumer demand and aggressive pricing by Palm; Q4 cut to ($0.11) from ($0.07) and FY02 lowered to (0.01) from $0.10; reduces price target range to $8-$10 from $14-$18; maintains Neutral rating.
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