Deutsche Banc Alex. Brown's Yardeni Continues Bullish on the Market
PR Newswire - April 20, 2000 13:25
NEW YORK, April 20 /PRNewswire/ -- Deutsche Banc Alex. Brown's Chief Global Economist and Investment Strategist, Dr. Ed Yardeni remains bullish on the market based on the following multidisciplinary analysis:
Deutsche Banc Alex. Brown's equity capital markets group believes new ventures will continue to find financing, but the environment will become more selective and favor companies that have tangible value.
Dr. Yardeni believes the economy remains strong and that inflation will remain subdued as productivity continues to grow at a faster pace than in the past.
Global Equity Trading Strategist Lazlo Birinyi's work on money flow activity suggests that the market is in a short-term decline caused by tax selling and margin selling and not a secular decline triggered by inflation fears.
Working with the Deutsche Banc Alex. Brown research analysts, Dr. Yardeni offers a list of growth stocks which he believes have the following important characteristics:
(1) strong fundamentals;
(2) a visible means of performance measurement: and
(3) an attractive valuation using traditional methods.
Dr. Yardeni and his colleagues at Deutsche Banc Alex. Brown think investors have now returned to "rational exuberance" and traditional methods of valuation. As a result, they recommend that investors focus on companies with strong fundamentals, visible earnings growth and attractively valued shares based on traditional valuation methods.
The following list of growth stocks represents the top investment ideas from Deutsche Banc. Alex. Brown's equity analysts that satisfy the criteria outlined by Dr. Yardeni:
About.com (BOUT -- 26 1/4)
ALLTEL Corporation (AT -- 65 1/4)
Amkor Technology Inc. (AMKR -- 58 5/8)
autobytel.com inc. (ABTL -- 6 9/16)
Bottomline Technologies Inc. (EPAY -- 39 15/16)
Business Objects S.A. (BOBJ -- 93)
Computer Associates International Inc. (CA -- 50 1/8)
Covad Communications Group Inc. (COVD -- 32)
Diamond Technology Partners Inc. (DTPI -- 64 1/16)
Digital River Inc. (DRIV -- 13 7/8)
Ditech Communications Corporation (DITC -- 78)
Documentum Inc. (DCTM -- 48 15/16)
EMC Corporation (EMC -- 124)
Exchange Applications Inc. (EXAP -- 22 19/16)
Exodus Communications Inc. (EXDS -- 111 7/8)
Flextronics International Ltd (FLEX -- 65 7/8)
FreeShop.com Inc. (FSHP -- 11 9/16)
Gemstar International Group Ltd (GMST -- 42 15/16)
Getty Images Incorporated (GETY -- 29 1/4)
Hewlett-Packard Company (HWP -- 135 13/16)
HotJobs.com Limited (HOTJ -- 13 7/64)
Intel Corporation (INTC -- 119 1/16)
Lycos Inc. (LCOS -- 38)
Mercury Interactive Corporation (MERQ -- 70 5/8)
Motorola Inc. (MOT -- 107 1/4)
Natural MicroSystems (NMSS -- 60 5/8)
NOVA Corporation (NIS -- 29 1/4)
Peregrine Systems Inc. (PRGN -- 28 9/16)
Price Communications Corp. (PR -- 20 5/16)
Proxicom Inc. (PXCM -- 36 1/16)
QRS Corporation (QRSI -- 45 11/16)
RSA Security Inc. (RSAS -- 49 29/64)
Sanmina Corporation (SANM -- 55 1/2)
Sapient Corporation (SAPE -- 64 7/8)
SmartForce (SMTF -- 38 7/8)
Tekelec (TKLC -- 32 5/8)
Terayon Communications Systems Inc. (TERN -- 80 7/8)
Ventro Corporation (VNTR -- 28 5/8)
Western Wireless Corporation (WWCA -- 48 3/8)
Additional Information Available Upon Request
Deutsche Banc Alex. Brown identifies the U.S. investment banking activities of DB Alex. Brown LLC and Deutsche Bank Securities Inc., which are indirect subsidiaries of Deutsche Bank AG. With over $869 billion in assets as of September 30, 1999 and approximately 90,000 employees, Deutsche Bank offers its clients unparalleled financial services throughout the world. It ranks among the leaders in asset management, capital markets, corporate finance, custody, cash management and private banking. Deutsche Bank is divided into five major business units: Global Corporates and Institutions, Global Technology and Services, Asset Management, Corporates and Real Estates and Private and Retail Banking.
Deutsche Bank Securities Inc. maintains a net primary market in the common stock of Amkor Technology Inc,. autobytel.com inc., Bottomline Technologies Inc., Business Objects S.A., Covad Communications Group Inc., Diamond Technology Partners Inc., Digital River Inc., Ditech Communications Corporation, Documentum Inc., Exchange Applications Inc., Exodus Communications Inc., Flextronics International Ltd, FreeShop.com Inc., Getty Images Incorporated, Gemstar International Group Ltd, HotJobs.com Limited, Intel Corporation, Lycos Inc., Mercury Interactive Corporation, Natural Microsystems, Peregrine Systems Inc., Proxicom Inc., QRS Corporation, RSA Security Inc., Sanmina Corporation, Sapient Corporation, SmartForce, Tekelec, Terayon Communications Systems Inc., Ventro Corporation, and Western Wireless Corporation.
Within the past three years, Deutsche Bank Securities Inc. or its wholly owned subsidiary, DB Alex. Brown LLC, has managed or comanaged a public offering of autobytel.com inc., Bottomline Technologies Inc., Covad Communications Group Inc., Diamond Technology Partners Inc., Digital River Inc., Ditech Communications Corporation, Documentum Inc., EMC Corporation, Exchange Applications Inc., Exodus Communications Inc., FreeShop.com Inc., Getty Images Incorporated, HotJobs.com Limited, Lycos Inc., NOVA Corporation, Proxicom Inc., RSA Security Inc., Terayon Communications Systems Inc., and Ventro Corporation.
Within the past three years, Deutsche Bank Securities Inc. or its wholly owned subsidiary, DB Alex. Brown LLC, has participated in a private resale of securities made pursuant to Rule 144A under the Securities Act of 1933 for Amkor Technology Inc., Covad Communications Group Inc., and Mercury Interactive Corporation.
About.com, ALLTEL Corporation, Amkor Technology Inc., Business Objects S.A., Computer Associates International Inc., Covad Communications Group Inc., Diamond Technology Partners Inc., Ditech Communications Corporation, Documentum Inc., EMC Corporation, Exodus Communications Inc., Flextronics International Ltd, Getty Images Incorporated, Gemstar International Group Ltd, Lycos Inc., Mercury Interactive Corporation, Motorola Inc., Natural Microsystems, NOVA Corporation, Peregrine Systems Inc., Price Communications Corp., Proxicom Inc., RSA Security Inc., Sanmina Corporation, Sapient Corporation, SmartForce, Tekelec, Terayon Communications Systems Inc., Ventro Corporation and Western Wireless Corporation stocks are optionable.
ALLTEL Corporation, Amkor Technology Inc., EMC Corporation, Getty Images Incorporated, Hewlett-Packard Company, Motorola Inc., Sanmina Corporation, Tekelec and Ventro Corporation have convertible issues outstanding. A director, officer, or employee of Deutsche Bank Securities Inc. serves on the Board of Directors of HotJobs.com Limited.
An author of this comment has a long position in the common shares of ALLTEL Corporation, Amkor Technology Inc., Business Objects S.A., Covad Communications Group Inc., Documentum Inc., Gemstar International Group Ltd, HotJobs.com Limited, Mercury Interactive Corporation, Peregrine Systems Inc., Price Communications Corp., Tekelec, Terayon Communications Systems Inc., Ventro Corporation and Western Wireless Corporation.
Information herein is believed to be reliable and has been obtained from sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. Opinions, estimates, and projections constitute our judgment and are subject to change without notice. This publication is provided to you for information purposes only and is not intended as an offer or solicitation for the sale of any financial instrument. Deutsche Bank Securities Inc., DB Alex. Brown LLC., and their affiliates worldwide, may hold a position or act as market maker in the financial instruments of any issuer discussed herein or act as advisor or lender to such issuer. Transaction should be executed through a Deutsche Bank entity in the client's home jurisdiction unless otherwise permitted by law. Deutsche Bank Securities Inc., and DB Alex. Brown LLC., are members of NYSE and NASD. Copyright 2000 Deutsche Bank Securities Inc., and DB Alex. Brown LLC. In the U.S. this report may be distributed either by Deutsche Bank Securities Inc., or DB Alex. Brown LLC. Interested parties are advised to contact the U.S. entity they currently deal with, or the U.S. entity that has distributed this report to them.
SOURCE Deutsche Banc Alex. Brown
/CONTACT: Christine Cortezi, 410-895-3418, christine.cortezi@db.com; or
Rohini Pragasam, 212-469-4516, rohini.pragasam@db.com, both of Deutsche Banc
Alex. Brown/
/Web site: dbgroup.com |
