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To: drsvelte who wrote (12695)	3/29/2000 9:55:00 PM
From: drsvelte	Respond to of 14427

Trader's Edge - Earnings Preview 29-Mar-00 18:10 ET [BRIEFING.COM - Damon Southward] Should I carry the stock overnight or just pick up some shares at the open?... They only beat by a penny, but the split should carry the stock. Right?... Earnings were significantly above expectations, yet the shares are bid up only a point. Could revenues have come in light?... Rest up boys and girls, because earnings season is just around the corner. Earnings, arguably, are still the primary driver of stock prices. The ability to consistently exceed Wall Street expectations by a sizeable margin and deliver robust revenue growth is what separates the great from the average. With tech earnings season set to kick off next week with the report of Yahoo's quarterly results, we take a moment to preview some of the companies with a recent history of making big runs in anticipation of, or in response to, earnings. Yahoo! (YHOO 177 1/16) : Leading Internet search engine and Web portal Earnings History: Has history of rallying into earnings, and experiencing a sell-the-news reaction in response to the actual numbers; last quarter, stock shed 40 pts on first day of trading after earnings were released, following a 29 pt advance the day before... Issue always carries a whisper number, which is usually 3-4 cents above the First Call mean. First Call Estimate: Mean= $0.09; Range: $0.08-$0.09 Report Date: April 5 (after the close) 52-Week Range: 55 to 250 1/16 January quarter price action for two days leading up to earnings, the day of the report, and the two days following the release of earnings. -2 -1 Report Date (1/11/00) +1 +2 Close: 407 1/4 Open: 366 3/4 High: 408 Close: 436 1/16 Open: 432 1/2 High: 451 1/4 Close 397 3/8 Open: 423 7/8 High 426 1/4 Close: 357 9/16 Open: 389 7/8 High: 394 Close: 346 7/8 Open: 366 1/2 High: 377 3/8 Redback Networks (RBAK 263 7/8) : Designer of advanced networking solutions that enable carriers, cable operators, and service providers to rapidly deploy broadband access and services. Earnings History: Has exceeded estimates in each of its three quarters as a public company; posted first profit last quarter... Stock split announced March 8, so no chance of split-fueled rally... Last quarter, stock ran into report, but gave back gains the next day, despite posting 300% upside surprise of $0.03 a share. First Call Estimate: Mean= $0.05; Range= $0.04 to $0.07 Report Date: April 12 (after the close) 52-Week Range: 32 1/2 to 397 -2 -1 Report Date (1/19/00) +1 +2 Close: 199 1/8 Open: 196 3/4 High: 200 Close: 210 3/8 Open: 200 3/8 High: 214 Close 206 Open: 214 3/8 High: 215 Close: 200 1/8 Open: 204 High: 209 1/8 Close: 205 Open: 202 5/8 High: 217 1/8 PMC-Sierra (PMCS 190 1/8): Designer of semiconductor system solutions for advanced communications markets. Earnings History: Topped estimate by 2 cents or 7% last quarter... Company does not have a history of delivering large upside surprises, but market has typically responded favorably to numbers; last quarter's 17 pt post-earnings rally, however, was driven primarily by simultaneous announcement of a 2-for-1 split. First Call Estimate: Mean= $0.16; Range $0.15-$0.17 Report Date: April 13 (after the close) 52-Week Range: 17 1/4 to 255 1/2 -2 -1 Report Date (1/20/00) +1 +2 Close: 169 1/2 Open: 165 3/4 High: 176 1/4 Close: 170 1/2 Open: 172 15/16 High: 172 15/16 Close: 174 1/2 Open: 174 5/8 High: 179 3/4 Close: 191 1/4 Open: 190 1/4 High: 198 1/2 Close: 187 1/4 Open: 198 3/4 High: 205 Applied Micro (AMCC 125 7/8): Designer of high-bandwidth silicon solutions for the communications market. Earnings History: Has exceeded estimates in each of the past three quarters, on accelerating revenue growth; average upside surprise over period has been 16%... Over the two days leading up to Jan. quarter report, AMCC shares rallied 38 1/2 pts or 36%. First Call Estimate: Mean= $0.14; Range= $0.11 to $0.14 Report Date: April 19 (after the close) 52-Week Range: 10 1/4 to 158 7/8 -2 -1 Report Date (1/10/00) +1 +2 Close: 106 15/16 Open: 115 1/2 High: 119 5/8 Close: 120 3/8 Open: 102 1/2 High: 120 5/8 Close: 145 1/2 Open: 126 1/2 High: 150 1/4 Close: 136 1/16 Open: 139 9/16 High: 140 Close: 136 15/16 Open: 136 3/8 High: 143 3/8 SanDisk Corp (SNDK 117 15/16): Designer of flash memory data storage products. Earnings History: Has delivered triple-digit revenue growth in each of the past two quarters... Earnings surprised to the upside by 36% last quarter; company also declared a 2-for-1 split; combination of the two sparked 43 1/2 pt rally, though, half of gains given back the following session. First Call Estimate: Mean= $0.18; Range= $0.17-$0.19 Report Date: April 19 (after the close) 52-Week Range: 8 1/2 to 169 5/8 -2 -1 Report Date (1/26/00) +1 +2 Close: 100 15/16 Open: 106 7/8 High: 108 1/2 Close: 102 9/16 Open: 100 7/8 High: 102 13/16 Close: 96 3/4 Open: 102 High: 104 Close: 140 3/8 Open: 112 1/4 High: 144 3/4 Close: 117 15/16 Open: 132 1/2 High: 138 3/4 Emulex Corp (EMLX 121 11/16): Developer of fibre channel host adapters, hubs, ASICs and software products. Earnings History: Extremely volatile issue has a recent history of blowing through estimates; upside surprises over past three quarters have averaged 42%... Issue has fallen dramatically over past several sessions on valuation concerns; if stock still trading at depressed levels going into earnings, could see significant move in response to number... Even after suffering 40% decline from its all-time high, stock still up over 1600% from its 52-week low. First Call Estimate: Mean= $0.18; Range= $0.17-$0.18 Report Date: April 20 (after the close) 52-Week Range: 7 11/16 to 225 1/2 -2 -1 Report Date (1/20/00) +1 +2 Close: 138 5/8 Open: 122 7/16 High: 139 1/4 Close:131 Open: 137 1/2 High: 138 Close: 137 1/8 Open: 135 High: 143 Close: 136 3/8 Open: 140 High: 144 11/16 Close: 120 1/2 Open: 140 13/16 High: 120 JDS Uniphase (JDSU 119 3/8): Manufacturer of advanced fiberoptic components and modules. Earnings History: Everyone's favorite tech name... Issue has gained 50% yr-to-date and up 756% over the past twelve months... Dilutive effects of major acquisitions have recently put a damper on earnings; this quarter, company projected to post the third consecutive decline in EPS, though figure expected to double from the yr-ago. First Call Mean: Mean= $0.10; Range= $0.09-$0.10 Report Date: April 25 (after the close) 52-Week Range: 12 13/16 to 153 3/8