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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (138321)12/12/2001 4:28:51 PM
From: Justa Werkenstiff  Read Replies (2) of 436258
 
Luc: PRU positive on AMAT layoffs but was calling for more at 2,200 - 2,500 so AMAT fell short of estimates with 1,700 announced. I expect PRU will now say that they fell short as layoffs will not provide the leverage they projected. AMAT with zero employees is a strong buy to PRU. Great leverage with zero employees.

3:21PM Applied Materials (AMAT) 43.76 -0.18 (-0.4%): -- Update -- Sources at Prudential are telling us that checks show AMAT could have a 2nd round of layoffs, numbering perhaps 2000-2500, beginning today; firm sees this as a positive as it could provide leverage for the co as the cycle turns and could lower their breakeven level (currently at about $1.1 bln in quarterly sales).
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