Soundview Photonics conference is April 27-29 in New York.
Here's a few other events I posted about a month ago. I'll be attending the Chase H&Q conference, and SDLI's annual meeting, but not the others:
Soundview Photonics Conference, NYC --- April 27
Alcatel earnings --- May 4
CLEO/QELS 2000 (Optical conference) --- May 7 - 12
Chase H&Q Technology Conference, SF --- May 8-11
SDLI Annual Shareholders Meeting --- May 18
Optical Switching Conference --- May 18-19
Ciena earnings --- May 20
SuperComm, Atlanta --- June 4-8
CIBC Communications Conference, NYC --- June 12-13
And, finally, all the articles I could find tonight:
Dow Jones:
interactive.wsj.com@6.cgi?mfmuse/text/autowire/data/BT-CO-20000425-008798.djml/&NVP=&template=atlas-srch-searchrecent-nf.tmpl&form=atlas-srch-searchrecent-nf.html&from-and=AND&to-and=AND&sort=Article-Doc-Date+desc&qand=&bool_query=jdsu&dbname=%26name1%3Ddbname%26name2%3Ddbname%26name3%3Ddbname%26period%3D%3A720&location=article&HI=
Muller said JDS Uniphase will see revenue growth of 75% and will reach $2.4 billion in revenue in fiscal 2001. He also said the company will see $480 million in revenue in the current fiscal fourth quarter.
Conrad Leifur, analyst with U.S. Bancorp Piper Jaffray, said the company's fiscal 2001 projections exceeded his own preliminary expectations of a little less than $2.3 billion in revenue.
"JDS Uniphase has been on such a great roll for so long it gets almost boring," he said. "Their earnings reinforce all the strong reports we've been seeing across the (fiber optic) group."
Optical fiber company Corning Inc. (GLW) exceeded Wall Street expectations Monday, following similar reports by component makers SDL Inc. (SDLI) and E-TEK Dynamics Inc. (ETEK).
Another mention in DJ:
interactive.wsj.com@6.cgi?mfmuse/text/autowire/data/BT-CO-20000425-008087.djml/&NVP=&template=atlas-srch-searchrecent-nf.tmpl&form=atlas-srch-searchrecent-nf.html&from-and=AND&to-and=AND&sort=Article-Doc-Date+desc&qand=&bool_query=jdsu&dbname=%26name1%3Ddbname%26name2%3Ddbname%26name3%3Ddbname%26period%3D%3A720&location=article&HI=
Finally, JDS Uniphase Corp. (JDSU) reported third-quarter pro forma earnings of 11 cents a share, a penny above estimates.
Shares of JDS Uniphase sank in extended hours to 88 1/2 from the regular-session close of 92 7/8, which was up 12 5/8, or 15.7% on the day.
CNET:
yahoo.cnet.com
"I think there's a misconception on the Street that the penny of upside wasn't very good for some reason," said Charles Willhoit, an analyst for J.P. Morgan.
Willhoit also pointed out that the number of shares outstanding increased 19 percent to 814.3 million from 683.2 million on a pro forma basis, which diluted the per-share earnings.
JDS generated $394.6 million in revenue for the third quarter, compared with $154.9 during the same period last year and $281.7 million during the previous second quarter.
"The top line was very strong," said Willhoit, who expected the company to post $352 million in revenue. "As their capacity increases, so goes their top line. They're basically shipping everything they can make at this point. . . . "The company's ability to keep up with demand also will remain an issue. "The industry in general is under capacity constraint," said analyst Jim Kedersha of SG Cowen. "Acquisitions are actually a way to increase capacity."
Willhoit agreed. "It's an execution game," he said. "They're growing so fast that they need to keep up with technology and the growth in demand."
JDS increased its revenue growth forecasts for the fourth quarter to 20 percent from 15 percent and said that revenue for fiscal year 2001 would grow 75 percent compared with 2000.
The company historically provides Wall Street with conservative guidance on revenues, Willhoit said. "If they say they say they can do this, they can do this."
UpsideToday:
upside.com
<i.JDS Uniphase (JDSU), a fiber-optics maker, posted third-quarter earnings of 11 cents a share, a penny above the consensus estimate.
On24:
biz.yahoo.com
TheStreet.com (if anyone has subscription, could you post quotes from article?)
thestreet.com
TheStreet.com NightWatch:
thestreet.com
JDS Uniphase (JDSU:Nasdaq - news - boards) also suffered, even after beating Street and whisper estimates by a penny to post third-quarter results of 11 cents per share. It lost 6 5/16 after hours, dropping to 87 on 480,000 shares on Island and giving back about half of the day's gains.
APFinance (on NT, but mentions JDS)
biz.yahoo.com
The results, which cruised past Wall Street forecasts, echoed some powerful numbers posted in the past day by Corning, the leading manufacturer of fiber-optic cable, and JDS Uniphase, a rapidly growing producer of fiber-optic components.
Together, the reports pointed to a continuation of the frenzied spending on communications networks for electronic commerce -- regardless of the stock market's sudden cynicism about the Internet revolution and profitless companies.
``Wall Street is going through quite a reassessment of values,'' said John Roth, president and chief executive of Nortel. But, he added, ``There's a huge change in society taking place with regard to the use of telecommunications. People are starting to realize just how efficient they can make their organizations by using the Internet.
Canadian press:
Techs propel Toronto stocks to close 3 percent up
By Luke McCann
TORONTO, April 25 (Reuters) - Toronto's benchmark stock index closed up more than 3 percent on Tuesday as investors bought technology issues, deciding that some had been oversold in Monday's big drop.
The Toronto Stock Exchange's 300 Composite Index ended 285.93 points, or 3.23 percent, higher at 9108.41. Volume was 132.4 million shares worth C$3.42 billion.
In the overall market advancing issues topped decliners 596 to 505, with another 263 closing flat.
The blue-chip S&P/TSE 60 index finished up 19.50 points, or 3.70 percent, at 547.05.
Nortel Networks Corp (NT.TO), the TSE 300's heaviest weighted stock and the world's No. 2 telecommunications equipment supplier, climbed C$12.90 to end at C$156.40. The company reported, after the market close, that first quarter earnings had beaten analysts' expectations.
JDS Uniphase (JDU.TO), the world's largest supplier of components for fiber-optic network equipment, led all net gainers, rising C$17.75 to C$136.75. It too reported after market close that its earnings had beaten street expectations.
``People are looking around, and there is value out there. Earnings are good and people are looking at earnings, we've gotten over the jitters,'' one trader said.
``On Monday if you took Microsoft out of the market and theoretically its ripple effect out of the market, we would have had a good day,'' he added.
``You've had a shorting out with the air taken out of everything, and a lot of good ones got tossed out in the bath water and now they've decided that some of these companies are good,'' he added.
On Monday, the TSE 300 fell 137.21 points.
In other technology issues, BCE Inc (BCE.TO) jumped C$14.05 to C$161.70, Research In Motion (RIM.TO) rose C$8.70 to C$62.20 and Ballard Power climbed C$6.40 to C$107.40.
In New York, strength in blue chips, coupled with Hewlett-Packard's (HWP.N) soaring shares, helped boost the Dow Jones industrial average 218.72 points, or 2.01 percent, to 11,124.82.
The Nasdaq composite rallied 228.75 points, or 6.57 percent, to 3711.23 -- setting its second-largest one-day point gain ever and completely reversing Monday's 4.4 percent drop.
Technology stalwarts Microsoft Corp. (MSFT.O) and Intel Corp. (INTC.O) rebounded after a slide sparked by worries about their revenue growth.
``Tech stocks were oversold on a short term basis and on Monday everybody had to get out of them because of Microsoft, and then Tuesday everybody thought that if Microsoft is broken up maybe it's not the end of the world, and maybe there's an upside to it,'' said Peter Chandler, senior vice president at Canaccord Capital.
Overall in Toronto, eight of the TSE 300's 14 subindexes closed higher on Tuesday, led by utilities, which rose 7.1 percent, and industrial products, which climbed 6.3 percent.
Transportation stocks rose 2.62 percent, consumer products gained 1.74 percent and financial services climbed 1.32 percent.
In that group, Bank of Montreal (BMO.TO) was up C$1.05 at C$54.20 and Royal Bank of Canada (RY.TO) was 70 Canadian cents higher at C$74.05.
On the downside, communications and media fell 2.17 percent, gold and precious minerals dropped 1.92 percent, merchandising slipped 0.25 percent, conglomerates dipped 0.19 percent and oil and gas slid 0.05 percent.
>>>>>
UPDATE 1-JDS Uniphase beats third-quarter estimates
OTTAWA April 25 (Reuters) - JDS Uniphase Corp. (JDSU.O)(JDU.TO), the world's biggest supplier of parts for fiber-optic equipment in phone networks, posted third-quarter earnings on Tuesday that beat analysts' consensus estimates by a penny as sales soared 155 percent.
JDS Uniphase, based in the Ottawa suburb of Nepean, Ontario, and San Jose, California, reported net income, excluding one-time items, of $85.8 million, or 11 cents a share in the third quarter. In the year-earlier period, pro forma combined profit from JDS Fitel and Uniphase Corp. -- which merged in June 1999 -- was $33.2 million, or five cents a share, on revenues of $154.9 million.
The average estimate from a group of 27 brokers polled by First Call/Thomson Financial was a profit of 10 cents a share for the quarter ended on March 31.
JDS, which produces equipment that boosts the capacity and speed of fiber-optic networks, is facing relentless demand as growing Internet use pushes increasing volumes of voice, data and video traffic over networks.
JDS chief executive and co-chairman Kevin Kalkhoven said in a conference call that the company would continue to ramp up its output to keep up, while trying to reduce costs.
In addition, JDS said that for the first time it will begin outsourcing manufacture of its labour-intensive modules while continuing to produce components in-house.
Chief financial officer Tony Muller said the company would see fourth-quarter revenues of more than $480 million and anticipated sales growth of more than 75 percent over 2000, netting more than $2.4 billion.
In addition, the company said it would lay out $60 million to $80 million in capital expenditures in the fourth quarter.
To keep pace with blistering demand and competitors, JDS has been on a buying binge, adding to its arsenal with a string of acquisitions. In April, JDS said it would acquire Cronos Integrated Microsystems Inc., a maker of fiber-optic switching systems, and last year it acquired Epitaxx Inc., Sifam Ltd., and Optical Coating Laboratory Inc.
A U.S. antitrust review is now under way for an all-stock deal, valued at about $15 billion when announced in January, to merge with competitor E-Tek Dynamics Inc. (ETEK.O).
Kalkhoven declined to say when the companies might hear the results of the review.
``The answer is we are getting all the stuff to be in compliance with the second request (for additional information) and after we're in compliance, it's 20 days. So we're going like hell,'' he said.
Analyst Emil Savov of Goepel McDermid Inc. in Vancouver applauded the results.
``Revenues grew much higher than anticipated I think, including acquisitions, but even the growth from internal growth was higher,'' Savov said, adding he believed ``the probability is high'' that the company will get regulatory approval for its E-Tek purchase.
JDS shares topped the Toronto Stock Exchange's net gainers list, reversing a trend of recent declines as the market punished shares with high valuations. The stock closed up C$17.75, or 14.92 percent, at C$136.75.
In New York, JDS shares closed 13 higher at 93-5/16.
($1-$1.47 Canadian)
>>>>>
Tokyo, Bloomberg:
Japan Stocks May Rise, Led by Fujitsu, Sony on Nasdaq Surge
Tokyo, April 26 (Bloomberg) -- Japanese stocks may rise, led by Fujitsu Ltd. and other computer-related companies, after gains in their U.S. counterparts sent the Nasdaq Composite Index to its third-biggest gain ever.
Sony Corp. and Hitachi Ltd. may also gain on expectations 18 mutual funds, three of which start investing today, may select these shares as they build their portfolios.
``The sharp rise in stocks in New York is a big confidence- booster for people in Japan who invest in technology stocks,'' said Naoyuki Kaneko, manager of equity investment information at Shinko Securities Co. ``We'll still need to see proven earnings from these technology companies, some of which will be released later this week.''
Nikkei futures for June delivery in Chicago closed overnight at 18,540, up from their close in Osaka at 18,170 and the close in Singapore at 18,200.
The Nikkei 225 stock average yesterday dropped 207.82, or 1.1 percent, to 18,272.33, after earlier rising as much as 0.8 percent. The Topix index of all stocks on the Tokyo Stock Exchange's first section gained 4.47, or 0.3 percent, to 1665.28.
Fujitsu Ltd., Japan's No. 1 maker of computers, may rise after the Nasdaq rallied to its third-biggest gain ever as investors scooped up JDS Uniphase Corp., Qualcomm Inc. and Intel Corp.
Of the three funds that start today, two are managed by Nomura Asset Management Co. One will target global biotechnology stocks and the other will invest in companies in fast-growing industries.
Fujitsu, Sony, the world's second-largest consumer- electronics company, and Hitachi, Japan's biggest electronics maker, will announced earnings on Friday. |
