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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 681.92-0.7%Dec 31 4:00 PM EST
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To: Clint E. who wrote (17078)7/14/1998 5:54:00 PM
From: Johnny Canuck  Read Replies (1) of 69358
 
Hi Clint,

I looks like there was selective profit taking today after
5 up days on the NASDAQ. It still managed to finish in positive
territory though.

I haven't had a chance to look at the trading at the last hour
but the miss by Intel might accelerate the profit taking tommorrow.

>Intel Corp. (INTC) 80 11/16 -1 11/16: chip maker posts
>a Q2 net of $0.66 a share, two
> cents below the First Call estimate, vs
>year-ago net of $0.92 a share; revenues fall 2% to $5.9
> bln; sees Q3 revenues flat to slightly higher
>sequentially; sees full year gross margin at 52%;
>sees Q3 gross margin up a couple of points from
>Q2 level of 49%; stock trading 1 11/16 pts
>lower on Instinet; see press release..

Rambus might be worth a short position tommorrow as it
is so closely tied to Intel and microprocessor demand.

>RMBS reports in line Q3 net of $0.07 a
>share vs yr-ago earnings of $0.02;

I was not impressed with the AFCI conference call.
It does not look like they have a good sales team for
the RFP to the RBOC's. China is still an unknown
with a bias against AFCI products. A number of
product delays out to early 1999.There is continuing
margin pressure from customers and competitors.

>Advanced Fibre Communications (AFCI)
>25 7/16 +1 5/16: telecommunications equipment
>maker reports Q2 net of $0.09 a share,
>a penny above the First Call mean estimate. AFCI
>earned $0.10 in the yr-ago period; ...

Harry
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