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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/31/2001 10:30:39 AM
From: besttrader	of 37746

MiniMed (MNMD) 46.78 +0.01: ABN AMRO downgrades to HOLD from BUY as a result of yesterday's announcement that Medtronic (MDT) was acquiring the company for $48 per share in cash or approximately $3.3 bln; firm believes this is a fair price for MNMD as it represents 9x firm's 2001 revenue estimate, which is comparable to recent acquisition prices paid for fast-growing, market leading medical technology companies. Amdocs Limited (DOX) 59.74 -0.26: Banc of America initiates coverage with a BUY rating and price target of $71; Amdocs has significant visibility into its pipeline; company's partnership with Bell Canada to create Certen could provide an additional channel for growth; based on the visibility into the next 12 months, firm believes investors should be willing to pay a premium for the company's shares. Sara Lee (SLE) 18.40 -0.11: Banc of America downgrades to MARKET PERFORM from BUY based on the outlook for flat to slightly lower earnings for FY 2002; still expects company to earn $1.32 from continuing operations for FY01, but reduces FY02 earnings estimate from $1.40 to $1.30; although firm's earnings revision is fairly minor, this would mark the third consecutive year of no earnings growth for the company and firm doubts that the shares will outperform until the outlook improves. 09:30 -- 10:00 ET (Updated throughout the hour)****** CIBC Downgrades : CIBC World Markets downgrades JDS Uniphase (JDSU) to HOLD from STRONG BUY; also cuts New Focus (NUFO) and Oplink (OPLK) to HOLD from BUY, citing deteriorating fundamentals; says the majority of sales for JDSU, NUFO and OPLK is in long haul transport which appears headed for more serious pricing pressure and continued volume softness in 2H01; based on firm's recent checks, believes that large OEMs are beginning to demand up to 25% average price discounts on components, which if successful would begin hitting component provider income statements late this summer; expects pricing pressures to be particularly acute for passive components.

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