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Strategies & Market Trends : The New Economy and its Winners

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To: stockman_scott who wrote (12558)	7/2/2002 7:59:55 PM
From: Lizzie Tudor	Read Replies (1) of 57684

Two weeks ago W.R. Hambrecht enterprise software analyst Rich Petersen figured that software stocks were priced in anticipation of a round of negative preannouncements this week. He noted that the average price of nearly 50 software stocks declined about 20% after companies missed first-quarter earnings and have declined another 20% since then. A whole bunch of software (as well as a bunch of telecom) is trading for cash value so who knows what happens to stock prices now. . Mason, who has a market perform rating on Siebel, went a step further than other analysts in forecasting that third-quarter revenue for Siebel will be sequentially down. The consensus estimate gathered by Thomson Financial/First Call forecasts that third-quarter revenue will rise by a modest 1.7%. "If our estimates are correct, then expect layoffs at Siebel," Mason said in his note Tuesday. His firm hasn't done any banking with Siebel. Big deal, Siebel is a harsh work environment and lays of their "bottom 10%" (translation: anybody who is not liked by middle management) every year anyway. L

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