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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 670.92

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Nov 7 4:00 PM EST

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To: Johnny Canuck who wrote (36635)	4/2/2002 1:57:32 PM
From: Johnny Canuck	Read Replies (1) of 67756

08:13 ET BBY Best Buy beats by a penny; Q1 guidance appears light (79.48) Reports Q4 net of $1.62 a share, $0.01 better than consensus, vs yr-ago EPS of $0.89. Sales rose 28% to $6.98 bln (consensus $6.97 bln). Although co states that Q1 sales have modestly exceeded original expectations, its Q1 guidance of $0.30-$0.32 is below First Call and Multex consensus estimates of 0.34. BBY continues to expect 2003 earnings of $3.15-$3.25 (consensus $3.15). 08:10 ET HAL Halliburton estimates cut at Morgan Stanley (16.76) Morgan Stanley cuts 2002 ests to $0.78 from $1.05 based on the decline in US gas-directed drilling activity, pricing and margin pressures in several North American product/service lines, and anecdotal evidence of execution problems on the Barracuda/Caratinga project. The firm also expects volatility in the shares around the April 4 asbestos hearing. Price target is $25. 08:04 ET CC Circuit City matches estimate; forecasts Q1 loss (18.12) Reports Q4 net of $0.73 a share, in line with consensus, vs yr-ago EPS of $0.49. Earnings per CarMax Group (KMX) were $0.17 a share, also in line with the Multex consensus. For Q1, Circuit City expects a "a mid- to high-single digit loss per share." Current consensus is for a $0.03 profit for Circuit City group. The loss includes an estimated reduction in the contribution from its operation given anticipated increases in funding costs and expenses associated with a planned new securitization agreement.

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