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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist
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To: Jerry Olson who wrote (2854)7/20/2001 9:05:30 AM
From: Frederick Langford  Read Replies (1) of 5893
 
07:55 ET PMC-Sierra (PMCS) 31.31: Bear Stearns downgrades to NEUTRAL from Attractive after company met lowered estimates but shippable backlog shrank to $62 mln from $94 mln and weak turns biz suggests Q3 rev. in the $62-$65 mln range (-30% qtr/qtr); PMCS estimates that customers hold about 2 qtrs of inventory in components, WIP, and finished goods; makes any type of significant recovery during the next 2 qtrs unlikely, sees stock as dead money at best at current prices.

Fred
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