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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Johnny Canuck who wrote (36405)	3/12/2002 9:45:49 AM
From: Johnny Canuck	Read Replies (2) of 68084

08:47 ET Restaurant valuations near peak, downgrades Brinker & Darden: DBAB DB Alex. Brown believes that the restaurant group's recent period of outperformance may be about to end, as valuations are near cyclical peaks and restaurant stocks tend to lag the mkt in the 5 months after a recession has ended. Downgrades EAT and DRI to MKT PERFORM from Buy on valuation; sees valuations in fast food more appealing, and maintains Strong Buy rating on MCD and Buy ratings on YUM, WEN. 08:34 ET UTSI UTStarcom announces $34.4 mln in new contracts (24.22) Announced that it has signed new contracts valued at approx. $34.4 mln geographical expansion and increased capacity of its PAScity-wide wireless access systems in several provinces in both the North and South of China. "The pace of new subscriber additions in both the North and the South on our PAS equipment is much faster than it has ever been 08:25 ET CSCO Cisco Systems: current quarter on track to hit lower end of range-- GS (17.42) Goldman Sachs says that recent checks on CSCO's current qtr indicate that the enterprise biz (around 75% of sales) is on track while the carrier biz (25%) continues to be weak; firm believes the current qtr guidance of flat to slightly up revenue is achievable with a bias towards the lower end of the range. 08:25 ET FRED Fred's beats consensus by $0.02 (34.86) Reports Q4 net of $0.32 a share, $0.02 better than consensus, vs yr-ago EPS of $0.26. Total sales increased 18% to $273.95 mln (consensus $273 mln). 08:24 ET RBAK Redback Ntwrks upgraded by Weisel (4.30) Thomas Weisel Partners upgrades to ATTRACTIVE from Mkt Perform; sees stabilization in March qtr with sequential growth thereafter. 08:16 ET CYMI Cymer cut to Neutral by Bear Stearns on valuation (46.11) Bear Stearns downgrades to NEUTRAL from Attractive based primarily on price. Though company continues to perform well, valuation is well ahead of a similarly situated peer group. [Harry: confirmss bearish engulfing pattern from 2 days ago.]

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