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Technology Stocks : Cymer (CYMI)
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To: TideGlider who wrote (11505)12/13/1997 12:19:00 PM
From: Shakush  Read Replies (1) of 25960
 
Bruce, it seems to me that lately downward estimated earnings revisions issued by the companies (usually citing Korea) are leading the analysts. Typically, the stock gets trashed for 1 or 2 days, a warning is issued, the stock immediately REALLY gets trashed, the analysts downgrade soon after and the stock gets trashed again. Considering how far the Cap Equip stocks have fallen already, I'd like to think the Asian problem has been priced in, but this has obviously been wrong. If what happened to KLIC and VECO this week is any guide, a few cents per share warning from Cymer would knock the stock down $4 - $6 instantly. I think we are vulnerable to such "guidance".

I recently saw a kind of Top Ten list of indicators used by fund managers somewhere and if I remember correctly, earnings surprises topped the list. Analyst recommendations were 2nd or 3rd.

Duane
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