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Strategies & Market Trends : Technical analysis for shorts & longs

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Dec 26 4:00 PM EST

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To: Johnny Canuck who wrote (41239)	5/29/2004 1:29:07 PM
From: Johnny Canuck	Read Replies (1) of 69260

:50AM Ditech soars 10% as analysts cheer Q4 net, outlook (DITC) by Mark Cotton NEW YORK (CBS.MW) -- Shares of Ditech (DITC) soared 10 percent to $17.50 in pre-market trading as First Albany analyst Frank Marsala upped his earnings estimate and raised his price target by $4 to $24 following the company's forecast-beating fourth quarter earnings and upbeat revenue outlook. Marsala said the market opportunity for the company's products remain strong, driven by increasing wireless carrier capital expenditure and the focus by carriers on providing superior voice quality over their networks. Ditech posted fourth quarter earnings of $8.3 million, or 24 cents a share, 4 cents ahead of the Thomson First Call average estimate and said it expects a 10 percent sequential increase in revenues. Marsala said the revenue outlook was well above his estimates of a 2 percent rise. With higher revenue and higher gross margins expected, Marsala upped his first quarter and fiscal 2005 earnings forecasts to 23 cents and 95 cents per share respectively from 19 cents and 74 cents per share.

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