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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Saturn V who wrote (96157)	1/13/2000 8:48:00 PM
From: Proud_Infidel	Respond to of 186894

Thursday January 13, 8:25 pm Eastern Time Tokyo Shares Rise TOKYO (AP) -- Stocks in Tokyo rose early Friday after a robust earnings report from Intel (NasdaqNM:INTC - news) after U.S. markets had closed helped support tech stocks. The dollar rose against the yen. The benchmark 225-issue Nikkei Stock Average rose 150.14 points, or 0.80 percent, to 18,983.43 in the first 30 minutes of trading. On Thursday, the average closed up 155.87 points, or 0.83 percent. The U.S. dollar was trading at 106.28 yen on the Tokyo foreign exchange market, up from 105.66 yen late Thursday and above its late New York level of 106.13. In stock trading, U.S. computer chip maker Intel said fourth quarter earnings rose 17 percent from the same period last year to $2.4 billion, easily beating Wall Street analysts' expectations. That helped send Sony and other Japanese technology stocks higher in morning Tokyo trading. ``I think it will be a fairly positive day,' said Robert Sasaki, head of quantitative strategy group at Jardine Fleming Securities. ``I think Intel will kick up more focus on high-tech issues, or the so-called 'new Japan' stocks.' On Wall Street, the Dow Jones industrial average rose 31.33 points to a record 11,582.43 after a report of relatively modest inflation calmed jittery stock investors. The technology-laden Nasdaq composite index broke out of a two-day slump to finish up 107.19 at 3957.21. The broader Tokyo Stock Price Index of all issues listed on the first section rose 17.99 points, or 1.1 percent, to 1,675.96. On Thursday, the TOPIX rose 1.05 points, or 0.06 percent. In currency trading, the dollar rose after U.S. sales and price data showed that the U.S. economy is growing at a steady pace with no danger of a sharp rise in inflation, traders said. That eased concerns -- at least for now -- that the Federal Reserve will raise interest rates to slow the economy at its meeting next month. In other currencies, the euro was traded at 108.90 yen, up from 108.84 yen late Thursday in Tokyo. The benchmark 10-year Japanese government bond was unquoted Friday morning. On Thursday, the bond's yield rose to 1.8000 percent from 1.7950 on Wednesday. Its price fell 0.04 point to 100.84.

To: Saturn V who wrote (96157)	1/13/2000 11:11:00 PM
From: Elmer	Respond to of 186894

Re: "Clearly ascribing the describing the cost of stock buyback as Employee Compensation ( as advocated by THE ALI CHEN SCHOOL OF ACCOUNTING) is absurd." It certainly is absurd. Intel is continuously writing puts on their own stock. They are buying their own stock at discount prices while at the same time granting options to their employees at fair market value. Those employees have to purchase those same shares at close to the same price Intel paid to buy them back. It's a push. EP

To: Saturn V who wrote (96157)	1/14/2000 6:54:00 AM
From: Road Walker	Respond to of 186894

Saturn, re: Stock buybacks/employee compensation - "grossly incorrect" "absurd" Well, thanks for correcting me. And you did it in such a nice, polite manner. I appreciate it. John

To: Saturn V who wrote (96157)	1/14/2000 2:20:00 PM
From: Ali Chen	Read Replies (2) \| Respond to of 186894

S5, <Clearly Intel sells the stock to the employees, and the sale generates cash for Intel, and to describe cost of the stock buyback as employee compensation is .. absurd.> Clearly you need to check your facts: biz.yahoo.com You may find out that the majority of options get exercised at $2.50 - $5.00-10.00 range. But these shares needs to be bought at current price, and even at deeps it was about $80. Do your math, and the difference clearly goes into employee pockets. This is still called as "compensation package", and therefore the cost of this sell-buy transaction is clearly a Salary Expense. Indirectly. So indirectly that it is tough for some to understand. If you are concerned that the stock buyback reduces dilution, think again: the 71.3M shares for 1999 is only 3% of the outstanding ones, while overstatement in earnings due to creative accounting is 70%. What is absurd that the proceeds from stock sale are accounted as you say, while the buybacks are not. Making up revenue numbers by selling stocks is a nice "financial engineering". BTW, congratulations to longs on the runup. Some smarts got ~$7B in real profits while suckers are buying... clearly funny.