AWRE-congrats in the money nicely if you were able to pull the short off this morn or yesterday. Stock had some resistance from downticking early today, probably due to lucent interview on cnbc, lucent uses there technology in chipset design, but luckily no mention, finally the stock caved in latter half of day, decided to cover here from small quick smart profit. Could yet go lowere, but like i said its one to keep your eye glued to. Found some hotter trades out there, ie the following;
here is some more tsu related news, short taken out here today at 22 3/4. Could be some significant downside tommorrow and next week. We shall see. Hoping it will run down as quickly as it ran up in the midst of the renewed brazilzan meltdown and deutsche late afternoon downgrade. Looking for at least 3 points here.
Thursday December 3, 1:49 pm Eastern Time
RESEARCH ALERT - Brazil cellular
companies lowered
NEW YORK, Dec 3 (Reuters) - Deutsche Bank on Thursday
downgraded several Brazilian cellular companies, citing
recent changes in the industry's competitive environment and
the stocks' solid gains in November.
Deutsche said in a research report it reduced Telesp Cellular Particpacoes (NYSE:TCP -
news) to underperform from outperform and lowered its target price for the ADRs to $23.70
from $25.40.
Telesp ADRs were dowm $2.31 to $20.88 in early afternoon trade Thursday.
Deutsche also lowered Tele Sudeste Celular Participacoes (NYSE:TSD - news) to
underperform from outperform, Telemig Celular Participacoes (NYSE:TMB - news) to
underperform from neutral and Tele Sul Celular Particacoes (NYSE:TSU - news) to
underperform from outperform.
Tele Sudeste ADRs traded at $22.94, off $2.31 Thursday afternoon. Telemig ADRs fell $2.88
to $28.25 and Tele Sul ADRs lost $1.25, trading at $21.50.
Brazil's Bovespa stock index was down 8.85 percent to 7701.
Deutsche said the economics of cellular operations in Brazil will change radically in the short
term and that competition is progressing faster than expected.
''We believe that competition will rapidly bring margins down,'' it said in a research note.
More Quotes
and News:
Tele Celular Sul Participacoes SA (NYSE:TSU - news)
Tele Sudeste Celular Participacoes SA (NYSE:TSD - news)
Telemig Celular Participacoes SA (NYSE:TMB - news)
Telesp Celular Participacoes SA (NYSE:TCP - news)
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