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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (64469)	7/12/1999 9:03:00 PM
From: Les H	Read Replies (1) \| Respond to of 132070

Intel seen reporting on-target second quarter SAN FRANCISCO, July 12 (Reuters) - No. 1 chip maker Intel Corp. is expected to report second quarter earnings on Tuesday that are in line with analysts' expectations, with revenues expected to decline from the first quarter, as a result of its aggressive pricing and some slower PC demand, analysts said. ''I think this quarter is going to have very little in way of surprises,'' said Mark Edelstone, an analyst with Morgan Stanley Dean Witter. ''I'd expect (earnings) to be in line with consensus...If there is any upside, it will be from margins and the continued focus on cost cutting.'' According to First Call, which tracks analysts' estimates, the consensus is for $0.53 a share. Intel's shares fell $0.8125 to $65.4375 in active trading on Monday. In April, when Santa Clara, Calif.-based Intel reported its first quarter earnings, it forecast that revenues in the second quarter would be flat to down from first quarter revenues of $7.1 billion. The second quarter is typically slower than the first quarter. ''We estimate that units were up a strong 20 percent, year-over-year, and down sequentially only modestly to about 25 million units,'' said Ashok Kumar, an analyst with U.S. Bancorp Piper Jaffray, adding that his expectations for revenues of about $6.6 billion is due to a drop of 10 percent in average selling prices from the first quarter. ''This is due to aggressive pricing against AMD (Advanced Micro Devices Inc.) and an incremental opportunity at the low-end afforded by Cyrix (National Semiconductor Corp.) departure,'' Kumar added. National Semiconductor, based in Santa Clara, Calif., announced in May that it would exit its Cyrix PC processor business and late last month, it sold the Cyrix processor business to Via Technologies Inc., a Taiwanese chipset company. National is retaining the part of Cyrix that is focused on chips for set-top boxes and other smart devices. Intel and AMD have been engaged in a pricing war at the low-end of the PC market, where AMD competes with Intel with its K6 microprocessor family. Sunnyvale, Calif.-based AMD has already warned that its second quarter would have a bigger-than-expected loss, due in part to these price wars. But analysts said that Intel is able to offset the pricing pressures from its low-cost Celeron chips and its relentless price cutting, because of its higher-margin chips, the Xeon for workstations and servers, and the newest Pentium III chips, as well as its own cost-cutting efforts. ''AMD complained about the aggressive price moves by Intel, but I think Intel can afford that because they have so many more segments that can offset that activity at the low-end,'' said Hans Mosesmann, a Prudential Securities analyst, who raised his rating on Intel last week to a strong buy. Intel's cost-cutting and its manufacturing efficiencies are also expected to help the company's profit margins, especially its use of lower-cost packaging materials with its Celeron processor, Edelstone said. >>>VTSS reported better than estimated earnings tonight and is so >>>far down 3 for a $ 70 stock.

To: Knighty Tin who wrote (64469)	7/12/1999 9:28:00 PM
From: Dushyant Narayen	Read Replies (1) \| Respond to of 132070

Michael - A trading question - as you seem confident that in the near term, Intel and some of the PC's are headed higher, based on your being light on puts, why do you not then take on a short term long position till you are ready to unload with both barrels ? Thanks, DN

To: Knighty Tin who wrote (64469)	7/13/1999 10:03:00 AM
From: wiz	Read Replies (1) \| Respond to of 132070

Mike As you said earlier this year about the market.. seems to be true of MU.. they just don't need no stinkin latinos!-g- Did you look at VXGN? I decided it would be good to sell at 17 and take a breather... of course the next trading day it heads to 22!-g- The science behind the vaccine is not supposed to be able to work...but on a limited basis it has. Kinda interesting stuff. Mark

To: Knighty Tin who wrote (64469)	7/13/1999 10:11:00 AM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

Mike, >>What an empty skirt<< Maria is a lot of things, but an empty skirt is not one of them. (g) Wayne

To: Knighty Tin who wrote (64469)	7/13/1999 10:51:00 AM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 132070

MB, Do you know anything about Bellwether Exploration (BELW). I think they are a Houston based Natural Gas company. It also looks like they have an exploration program that is starting to extract 200 bcfe. If this is true the company is selling below its NAV. Maybe this is all hype from management. <ggg> Joan