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Technology Stocks : copper mountain CMTN -- Ignore unavailable to you. Want to Upgrade?

To: Short A. Few who wrote (544)	8/3/2000 12:05:28 PM
From: London Brian	Read Replies (1) \| Respond to of 1226

I'm surprised at how far this stock has pulled back. Bought some more shares yesterday. this is a couple days old... COPPER MOUNTAIN NETWORKS (CMTN): On July 18, U.S. Bancorp Piper Jaffray reiterated its STRONG BUY on COPPER MOUNTAIN NETWORKS, which provides DSL service to competitive local exchange carriers. COPPER MOUNTAIN's second-quarter revenue and earnings both came in ahead of U.S. Bancorp's forecast. The company's earnings of $0.24 a share, $0.02 better than the firm's forecast, were not solely the product of the higher-than-anticipated revenue; the company managed to widen its margins more than expected, as well. Furthermore, COPPER MOUNTAIN also diversified its customer base, a good sign for continuing revenue growth in the future. U.S. Bancorp raised its earnings estimates to $0.97 a share in 2000 and $1.36 a share in 2001. The firm also raised its 12-month target price to $150, based on a price-to-revenue relative valuation. Still, what was good enough for U.S. Bancorp was not good enough for the market. COPPER MOUNTAIN shares have suffered since the earnings report because the "whisper number," an unofficial earnings estimate that was tossed around in Internet chat rooms and message boards, had gotten as high as $0.30 a share. After closing at $123.69 on July 17, COPPER MOUNTAIN dropped 28% to close at $89.63 on July 20.