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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.88

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To: Johnny Canuck who wrote (32463)	5/24/2001 11:10:11 AM
From: Johnny Canuck	Read Replies (1) of 70270

09:19 ET ONI Systems (ONIS) 35.74: The Dell'Oro Group reported this morning that the DWDM metro market grew 16% in Q1, but that ONIS gained share with 50% growth. Nortel (NT) metro sales were estimated to be up 2%, with Ciena (CIEN) down 3%. NT was still in the number one position in terms of sales, followed by ONIS and then CIEN. 10:28 ET Take-Two (TTWO) 18.20 +0.73 (+4.2%): Shares of gaming software company propelled to new 52-week high by Q2 earnings report; for the period, TTWO posted EPS of $0.12 a share, a penny above consensus, vs yr-ago net of $0.13. Company also reaffirmed 2001 guidance of $1.00 a share. 10:19 ET Minn Mining & Mfg (MMM) 119.17 -1.47: Stock dives after the scheduled appearance of the 3M CFO at the Salomon Smith Barney Imaging and Visual Media Forum at 9:30 ET; we're hearing that a wire is running headlines that the company sees no improvement in weak business conditions, but we have been unable to confirm that. 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.

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