Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (936)	9/13/2000 12:40:09 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

JDSU--Nasdaq bounces back as JDS Uniphase climbs By Bloomberg News September 13, 2000, 9:15 a.m. PT NEW YORK--The Nasdaq composite index rebounded from a 1.40 percent loss as JDS Uniphase climbed after analysts said the company could meet its goal of quadrupling output in 18 months. A downgrade by a Banc of America Securities analyst drove down Intel, pushing the Dow Jones industrial average lower. SCI Systems fell after warning that profits will fall short of expectations. "The Nasdaq's been down five of the past six days, and we're starting to see some bargain hunters coming in," said Peter Coolidge, managing director of equity trading at Brean Murray. Still, Coolidge expects the buying to be short-lived. "We're still in this dreadful warnings season, so it's sort of like a minefield out there," he said. "I'm not seeing enough buying to stabilize the market and drive it higher." The Nasdaq climbed 23.03, or 0.60 percent, to 3,872.54. The Standard & Poor's 500 index advanced 3.40, or 0.20 percent, to 1,485.39, led by Nortel Networks. The Dow lost 15.91, or 0.20 percent, to 11,217.32. JDS Uniphase rose $2.30 to $105.48, leading the Nasdaq higher. The No. 1 maker of fiber-optic components told analysts at a meeting in Ottawa yesterday that improvements in its manufacturing processes would help it reach its output goal. Banc of America Securities analyst Richard Whittington lowered both Intel and Advanced Micro Devices to "market perform" from "strong buy." The No. 1 computer chipmaker dropped $2.31 to $62.50, and Advanced Micro Devices slid $1.56 to $28.94. SCI Systems fell $15.75 to $40.19. The world's No. 2 contract manufacturer of electronics said it expects first-quarter sales to be lower than previously estimated. The company said "weakness" in consumer electronics and PC demand could cut earnings per share to 34 cents, compared with an expected 38 cents. "There have been indications that corporate earnings are in jeopardy and that, plus the earlier run-ups in stocks, lead to selling," said Liam Dalton, president of Axiom Capital Management, which has lowered its technology stock holdings to 18 percent from 38 percent in the past three months. Computer-chip licenser Rambus climbed $2.13 to $83.94. An agreement between Rambus and NEC, Japan's largest chipmaker, headed off a legal dispute that has engulfed other chipmakers who've refused to pay the U.S. company for its technology.