From briefing.com archives.
May 13 2002
11:12 AM In Play JDS Uniphase falls to new 52-week low (JDSU) 3.65 -0.13:
Apr 30 2002
8:32 AM In Play CSFB changes to tech strategy : CSFB adds the following co's as Top Picks: ADBE, AGR.A, APH, IDTI, and UTSI, and deletes JDSU, MCHP, NET, QCOM, and VSH. In addition, firm adds the following co's as Undervalued Co's: ADSK, DPMI, SBYN, and VSH, and deletes ACLS, CTXS, UTSI, and VRSN.
Apr 29 2002
10:02 AM In Play New 52-Week Lows : Q, WCOM, EDSN, CRGN, NSCN, REGN, DIGL, MVSN, SEI, SEPR, JDSU, AT.
Apr 26 2002
7:29 AM In Play JDS Uniphase downgraded at Merrill Lynch (JDSU) 5.03: Merrill Lynch downgrades to Long-Term BUY from Strong Buy since they are not forecasting profitability for many quarters and visibility remains very low; in the near-term, revenues and gross margins look set to further deteriorate, supply chain is still sick, and cancellations indicate a weaker outlook and make the current quarter look stronger than the underlying biz.
Apr 25 2002
5:43 PM In Play After Hours Movers : Prices vs 4 pm ET close -- OVER +6.87, AMGN +1.55, SURE +0.30, JDSU -0.18, SBUX -0.14, MSCC -1.39, PSFT -0.39, VRSN -2.20
Apr 25 2002
4:09 PM In Play JDS Uniphase misses estimates; guides lower (JDSU) 5.03 +0.01: -- Update -- Reports Q3 (Mar) pro forma loss of $0.05, three cents worse than the Multex consensus of a loss of $0.02; revenues were $261.8 mln vs the $255.8 mln consensus. Guides Jun qtr revenues to $210-230 mln with a loss of $0.03-0.04, both numbers below consensus estimates of $250.4 mln and a loss of $0.01.
Apr 25 2002
3:41 PM In Play Earnings Calendar : Leading what will be an active after-hours session are AMGN, DIS, FLEX, JDSU, PSFT and VRSN. Also scheduled to report this evening are IM, MCHP, MSCC, OVER and SBUX.
Apr 22 2002
9:16 AM In Play Gapping Up/Down : Most of pre-market action this morning is to the downside, with weakness primarily in the telecom sector: WCOM (-34%), MCIT (-20%), JNPR (-6%), RSTN (-6%), JDSU (-4%)... Also under pressure is NeoPharm (NEOL -22%), which has filed for arbitration of a dispute with licensing partner Pharmacia
Apr 11 2002
9:29 AM In Play IBM subject of new investigation: SEC Insight (IBM) 89.01: -- Update -- The rumors of an SEC investigation mentioned in the 8:43 comment were apparently triggered by a report this morning from SEC Insight; that research firm issued a report claiming that the SEC initiated a preliminary inquiry of IBM starting on Feb 15 2002, the same day as the NY Times story detailing IBM's accounting for the optical division sale to JDSU; report says that this is a new investigation and speculates that it is still ongoing.
Apr 11 2002
8:44 AM In Play IBM rumors making the rounds again 89.01: Hearing trading floor rumors of an SEC inquiry into IBM regarding the sale of its fiber optic business to JDSU (this transaction was the subject of the Feb 15 NY Times article that hit the stock); no confirmation of the source of this talk or its accuracy - IBM has been hit by accounting-related rumors repeatedly of late, most recently last Friday when rumors of earnings restatement were heard.
Mar 13 2002
7:19 AM In Play Bernstein sees optical trough in summer, possible growth in Q4 : Bernstein initiates coverage of the optical space with an overweight rating, and initiates JDSU and AGR.A with OUTPERFORM ratings and GLW with MKT PERFORM; analysis suggests a trough of carrier long haul expansion capex this summer, and the resulting photonics rev bottom in Q2 could be followed by an acceleration of sequential growth in Q4. Firm is cautiously optimistic on long term growth, particularly for photonics as it should suffer less price erosion than the semi's. Also, firm initiates semi co's LSI with OUTPERFORM rating, and ALTR and XLNX as MKT PERFORM.
Mar 12 2002
3:32 PM In Play JDS Uniphase loses more ground on news of insider trading plan (JDSU) 5.95 -0.69: Falls to lows of the day on Dow Jones report that eight JDSU executives and board members officers have adopted trading plans to sell company shares, according to a Form 8-K filed today with the SEC.
Mar 11 2002
1:47 PM In Play CIENA rises on short-covering, takeover rumors (CIEN) 10.70 +1.43: -- Update -- As noted earlier, the telecom equipment group is having a very strong day. Pacing the group's advance is CIEN, which we are hearing is benefiting from Buckingham's upgrade of CIEN (+15.4%), SONS (+7.3%) and ONIS (+13%) to Neutral from Swap. Firm calls these names 'survivor' companies that should benefit from stabilizing order patterns. According to firm, investors have seemingly stopped reacting to bad news and are covering large short positions, which is typically the first step in anticipating a stock/sector recovery. Also contributing to CIEN strength is chat room rumor that CSCO could make a play for co at these depressed levels... Other movers of note today include GLW (+5.9%), JDSU (+3.8%).
Mar 8 2002
8:40 AM In Play Morgan Stanley sees telecom trading opportunity in Q2 : Morgan Stanley sees a trading opportunity in telecom equipment stocks such as CSCO, NT, LU, CIEN, and JDSU after Q1 warnings and earnings are out of the way; believes that late release of service provider budgets will lead to a weak Q1 followed by a Q2 sequential rebound of up to 10%; sees trade lasting until the second half when 2003 carrier capex budgets are announced.
Mar 8 2002
7:38 AM In Play JDS Uniphase downgraded at Merrill Lynch (JDSU) 6.41: Merrill Lynch downgrades to Near-Term NEUTRAL from Buy and trims ests; believes that recent visits with optical co's indicate the optical mkt may decline closer to 20% in 2002 vs old estimate of down 12%, and that carrier capex in 2003 may also decline further; also, current valuation does not leave much room near-term upside, and sees support at the $5 level based on trough valuations and resistance at the $8 level based on earnings power in a recovery environment.
Mar 5 2002
9:13 AM In Play Intel designing chips for fiber optic networks (INTC) 31.85: -- Update -- Traders citing Bloomberg are telling us that INTC has started building customized chips for fiber optic networks, with the intent of replacing bulky, labor-intensive modules with cheaper, smaller semiconductors; the fiber optics components mkt is currently led by JDSU.
Mar 1 2002
3:12 PM In Play JDS Uniphase struggles late; slips to new session low (JDSU) 4.92 +0.07: |
