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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Johnny Canuck who wrote (41203)	5/25/2004 1:33:21 AM
From: Johnny Canuck	Read Replies (1) of 69670

10:21 PLMO palmOne estimates raised at Lehman (19.08 +1.03) -- Update -- Lehman increases its MayQ and CY05 estimates given an improving Treo outlook: MayQ est goes to $0.13/$255 mln from $0.10/$250 partially on solid handheld demand and largely on lower taxes; CY05 goes to $0.66/$1.14 bln from $0.28/$1.08 bln. According to firm, Treo component constraints appear set to abate this summer. As carrier checks suggest low channel inventories, firm believes reordering from AT&T, Sprint, and Cingular is likely. Two additional catalysts that would likely spur additional demand would be a Verizon launch this summer and a BlackBerry Treo this fall. While component challenges may limit MayQ upside, Treo strength should offset Aug seasonality and allow PalmOne to lift FY05 guidance of 15% sales growth. [Harry: So does this mean demand has abated from other products or that more capacity is due to come on line. In the first case, it is a negative for economy in general. In the second case, it should contain inflation and perserve gross margins.]

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