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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 692.24

+0.3%

Jan 15 4:00 PM EST

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To: Johnny Canuck who wrote (41187)	5/19/2004 10:26:17 AM
From: Johnny Canuck	Read Replies (1) of 69808

09:39 CIEN may be pressured by mgmt transitions and hints of lost optical sales - BofA (3.81 +0.14) Bank of America expects Ciena to make AprQ numbers when it reports tomorrow morning, but the stock may be pressured by management transitions and hints of lost optical sales. The optical market remains hyper-competitive and marginally profitable. Industry contacts indicate that senior level sales employees will be released/leave the co, which would be a negative for the stock. Firm maintains its Neutral rating. 09:37 ADTN ADTRAN: Pac Growth comments on exposure to SBC in light of possible walkout (25.82 +0.62) Pacific Growth comments that the CWA Union has given SBC 24-hour notice of a possible walkout. The union could strike as early as Wednesday morning. Within firm's telecom group, ADTRAN has the highest revenue exposure to SBC at approx 22% of last quarter's revenue. Considering ADTN's products are used to support very high margin data services, firm expects any disruption to be minimal. 09:35 AFCO selling is overdone -- ThinkEquity (25.20 +0.43) ThinkEquity notes that, excluding $12 in cash, Applied Films is selling at less than 1x CY04 and CY05 revenues. The firm sees limited downside at these levels despite potential slowdown in construction activity in China (a key driver of its architectural glass segment). The firm's target remains at $33.

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