Judy,
I want to listen to the conference call first before I give an
opinion. Some of the forward guidance in the press release confirms
things I have heard on other conference calls. I want to hear the
specifics first though.
The conference call re-play is 703-925-2417, reservation 731501
From Briefing:
1:45 ET ******
ANADIGICS INC (ANAD) 14 1/16 -19 3/4. Wireless is just not the place to be these days,
particularly going into an earnings report, as ANAD's intraday loss of 58% reveals. For those
investors who actually own (or, until this morning, owned) shares of this maker of radio frequency
and microwave frequency chips, you really can't say that you didn't know somewhere in the back
of your mind that the company was going to eventually warn, and probably sooner than later. All
one had to do was listen to Spectrian (SPCT 17 15/16), which back in October (when the
stock traded in the low-$40s), warned that orders were slowing significantly. And, even though a
few analysts have attempted to make the case that the sell-off in some of these stocks has been
overdone (which they also did with Spectrian before it dropped like a stone), the combination of
cautionary comments by several wireless players, coupled with the whole Asia crisis served as
warning that the group was beginning to stink, as we have noted several times on this page. But,
while many are getting burned by ANAD today, a large number of investors were fortunate
enough to call themselves former ANAD shareholders before today (see chart). You can be sure
that clients of Volpe Brown, CIBC Oppenheimer, Needham, and Goldman Sachs, which all
downgraded the stock this morning, will be calling the firms to ask why they didn't get them out
before today. The amazing thing about this whole ANAD story is that we haven't been able to
find a firm that had, before today, issued a downgrade on the stock in the last 10
months. Talking about being asleep at the wheel on the part of the brokerage community. |
