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To: ChinuSFO who wrote (21284)	6/10/1999 10:21:00 PM
From: Ian Davidson	Respond to of 41369

From Briefing.com Tech Stock Analysis Bonus Link: Tech Stocks Archive General Commentary: Up, down, up, down... The roller coaster ride in the tech sector continued, as rate fears resurfaced when long-bond yield climbed to 6.07%... Mr. Greenspan, if you're listening, tighten already!.. At this point, .25 pt rate hike would do more good than harm in that it would ease concerns among bond bears that Fed not being diligent enough in combating inflation... As for stocks, the market has already priced in a rate hike of at least 1/4 pt. so stocks likely to rally on the fact... Retail sales and PPI data due out this morning... For consensus and Briefing.com estimates, see our Economic Calendar. While rates continue to draw more attention than they deserve, market yet to factor in what should be a very strong second quarter in terms of earnings... After yesterday's close, CMGI (CMGI 101 1/2 -3 3/4) and National Semi (NSM 22 1/2 +1 13/16) reported results... Unfortunately, neither company reported the kind of results we expect to typify the quarter... Latter company posted a Q4 loss of $0.24 a share, in line with the First Call mean... NSM lost $0.42 in the year ago period... Revenues slipped 6.5%... Numbers should be good enough to keep stock on upward path over intermediate-term... Former didn't fare as well... CMGI missed street estimate by a wide margin in reporting an operating loss of $0.29... First Call mean called for a loss of $0.13... Company earned $0.09 in the year ago period... Revenues jumped 12% sequentially and 141% year-over-year... However, operating expenses rose by 29% sequentially and 87% y/y... Stock indicated down 6 points in early after hours trading. Disappointing results out of CMGI likely to have a dampening effect on the Net sector in today's trading, as stock seen by many as a proxy for the group... Given that Internet industry often acts as bellwether for rest of sector, techs likely to start day off on a negative note... If data come in stronger than expected, selling in the morning could get ugly.