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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (1027)	5/11/2000 11:27:00 PM
From: John Pitera	Read Replies (2) \| Respond to of 2850

Mike, I have not liked the way CNXT has traded. a great example of a stock breaking below it's 200 DMA and then coming up and touching it before heading lower. geocities.com when it hung around for days and days just beneath it's 200 DMA selling off every time it touched it...well that's the proverbial kiss of death. Mkt giving us second, third and fourth chances to unload near the 200 DMA before the long descent into purgatory. -ng- They are competing against BRCM, LU, BRCD,RFMD? and another of the companies on our most favored list. It's like the cross roads of the Giants and this is a Rockwell spin-off. -ng- But I sure would not sell here, it's a buy, not sure how big the magnitude is. Good horizontal support at 40. look at this, rev's down compared to Dec and only growing at 6% to 8% for June. 10% sequential earnings growth. Margins at 46%..... Not top tier numbers and I think they have 5 blow-out(very strong) competitors. Hence the adoption of their products may have an uphill run. John ---------- Wednesday April 19, 9:14 pm Eastern Time CORRECTED - Conexant second-quarter results top expectations In NEWPORT BEACH story headlined ``Conexant first-quarter results top expectations'' please read headline as ``Conexant second-quarter results top expectations'' (Correcting quarter) A corrected repetition follows NEWPORT BEACH, Calif., April 19 (Reuters) - Conexant Systems Inc. (NasdaqNM:CNXT - news) on Wednesday reported net income, excluding acquisition charges, of $47 million for its second quarter, ahead of consensus estimates, driven by strong demand for its communications chips in network and television equipment. In a statement, the company said strong demand for its semiconductor products in wireless and networking equipment was leading it to boost its outlook for earnings and revenue growth in the coming quarter and full fiscal year. Conexant said pro forma net income for the fiscal second quarter ended March 31 was $47 million, or 21 cents per share, compared with $8.9 million, or 5 cents a share, in the year-ago period. These results excluded merger-related charges. Analysts had forecast an average of 19 cents per share, according to First Call/Thomson Financial, which compiles broker estimates. Revenue for the quarter jumped to $502 million, up 58 percent from the year-earlier quarter's $317 million. Revenue was down slightly from the seasonally stronger first quarter ended in December, but by far less than analysts expected. Conexant said it expected total revenues to grow in the range of 6 percent to 8 percent in the June quarter, gross margins to remain at 46 percent. It said operating profit would grow at greater than 10 percent sequentially, while for the full year, it expected $100 million in unforeseen revenue, or $2.1 billion.