The Thread Formerly Known as No Rest For The Wicked Message Board

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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: Samuel Wayne Turner who wrote (47278)	6/1/1999 10:54:00 AM
From: kathyh	Read Replies (1) of 90042

thanks, samuel... it is kind of ugly out there this am, isn't it?? hanging in there, not buying or selling... but i'm sure some really good traders are seeing some buying opps out there... and probably lots of shorting opps, too... i may have to learn that... kathy :) Tuesday June 1, 10:29 am Eastern Time RESEARCH ALERT - Hewlett , Sun cut NEW YORK, June 1 (Reuters) - Banc of America Securities analyst Kurt King cut his ratings for computer maker Hewlett-Packard Co. and Sun Microsystems Inc. Tuesday to hold from buy. -- ''Our survey of corporate and public sector buyers over the last month leads us to no other conclusion than that we'll see a significant computer hardware spending falloff in fourth-quarter 1999 and, to a lesser extent, the first quarter of 2000,'' King wrote in a report. -- ''Our data support the idea the current demand environment is being helped by Y2K (the year 2000 ''millennium bug") pull-ins. -- ''This suggests tougher comparisons for the industry next year. However, once Y2K is behind us we expect the driver for individual companies to once again be market share gains and losses rather than variations in industry growth.'' -- Sun and Hewlett-Packard's "high forward multiples and exposure to (computer) lockdowns under which UNIX servers will be hardest hit lead us to step to the sidelines for now. -- ''We're reducing fourth-quarter 1999 and in some cases first-quarer 2000 estimates across most of the sector. Cuts vary according to each stock's customer and product mix.'' -- Hewlett-Packard's shares were off 2-12/16 at 91-9/16 and Sun fell 2-11/16 at 57-1/16. -------------------------------------------------------------------------------- More Quotes and News: Hewlett-Packard Co (NYSE:HWP - news) Sun Microsystems Inc (Nasdaq:SUNW - news) Related News Categories: US Market News

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