09:48 ET Sector Watch : Impressive start with the gains broad based in nature. Pacing the way thus far are wireless (NOK +7.1%, RFMD +7.3%, WWCA +6.7%), software (BEAS +5.1%, SEBL 9.9%), storage (EMC +11%, NTAP +6%), video game (ATVI +9%, ERTS +3.1, THQI +3.7%), Internet (AMZN +5.3%), Internet security (ISSX +6.4%). Also on the move are homebuilding, gaming, networking, computer-hardware, broker/dealer. Little on the downside other than gold and drug.
09:48 ET Sector Watch : Impressive start with the gains broad based in nature. Pacing the way thus far are wireless (NOK +7.1%, RFMD +7.3%, WWCA +6.7%), software (BEAS +5.1%, SEBL 9.9%), storage (EMC +11%, NTAP +6%), video game (ATVI +9%, ERTS +3.1, THQI +3.7%), Internet (AMZN +5.3%), Internet security (ISSX +6.4%). Also on the move are homebuilding, gaming, networking, computer-hardware, broker/dealer. Little on the downside other than gold and drug.
09:25 ET Gapping Up/Down : ZOOX +18% (Compaq relationship), SNDK +16% (blows past estimates), TSTN +9% (upgraded after earnings), ATRX +15% (FDA approval), AVNX +15% (exceeds estimates), WEBM +9% (delivers upside to estimates), ATVI +9% (tops estimates, raises guidance), SEBL +8% (upgraded on heels of earnings)... Gapping Down: TLGD -12.5% (misses qtr, guides lower), CTXS -7% (downgraded following earnings)... Other movers of note include: GCOM (+17%), AZPN (+10%), FFIV (-5%), BRKS (-5%), BRCM (-4%).
08:33 ET EMC Corp (EMC) 14.56: -- Update -- On conference call, says it expects customer budgets to be flat to down in 2002, expanding only when conditions improve... says investors can expect more cost cuts, more new products, and more on the acquisition front from EMC in 2002.
08:31 ET Economic Data : Jobless Claims fell 15K to 376K in the Jan 19 week, lower than the consensus of 395K; the recent trend in claims have been very encouraging and has led Briefing.com to bump up its forecast for January nonfarm payrolls to +50K - this would be the first increase in jobs since last July.
08:28 ET DSP Group (DSPG) 23.22: USB Piper Jaffray upgrades to OUTPERFORM from Mkt Perform after solid Q4 results and because for the first time in four qtrs the co did not lower guidance. Price target is $28.
08:21 ET EMC Corp (EMC) 14.56: -- Update -- On conference call, co says sees sequential rev decline of 5% due to normal seasonality. Based on consensus estimates before today's report, Wall Street had anticipated a sequential sales decline of approx. 1.5%.
07:50 ET Harmonic (HLIT) 10.95: Adams Harkness upgrades to STRONG BUY from Buy after the co beat consensus last night, sees the following catalysts: 1) T Broadband ownership should boost capex spending, 2) DirecTV/Echostar combo could result in more spending, and 3) VOD deployments should boost stock. Price target is $20.
07:43 ET Turnstone Sys (TSTN) 3.79: DB Alex. Brown upgrades to BUY from Mkt Perform; continues to view stock as a re-start/venture capital play, but notes TSTN has now demonstrated initial success penetrating a significant local incumbent carrier (PCCW of Hong Kong).
07:11 ET Avici Systems (AVCI) 2.41: Posts a Q4 loss of $16.3 mln or $0.33 a share, $0.03 better than consensus. Rev fell to $9.2 mln, below the $10.5 mln consensus. Co ended the qtr with $164.4 mln in cash.
07:08 ET Tollgrade Comm (TLGD) 31.91: Posts Q4 net of $0.15 a share, $0.01 worse than consensus, vs yr-ago EPS of $0.58. Sales fell to $16.4 mln, below consensus of $18.06 mln. Co warns for Q1, projecting EPS of $0.06-$0.10 (consensus $0.15).
07:02 ET Nokia (NOK) 22.21: Stock climbs 7% in European trading after co posts Q4 net of $0.21 a share, exceeding the Multex consensus estimate by $0.03 a share. "We achieved significant market share gains maintaining excellent profitability in our mobile phone business and succeeded in substantially reducing the impact of a challenging environment on our networks business." |
