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Technology Stocks : PALM - The rebirth of Palm Inc. -- Ignore unavailable to you. Want to Upgrade?

To: David E. Taylor who wrote (2208)	10/17/2000 4:24:49 PM
From: Mang Cheng	Read Replies (1) \| Respond to of 6784

"Handspring (HAND) 77 15/16 +3/8: -- Update -- Reports Q1 loss of $0.08 a share, $0.05 better than the Zacks consensus of ($0.13) on revenues of $70.5 million; "Handspring Posts First Quarter Revenues of $70.5 Million, Up 36% Sequentially Business Wire - October 17, 2000 16:08 MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 17, 2000--Handspring, Inc. (NASDAQ:HAND) today posted revenues of $70.5 million for the first quarter of fiscal year 2001 ended September 30, 2000. Quarterly revenues increased 36% over Q4 due to strong demand for Handspring's Visor line of handheld computers and Springboard expansion products, continued expansion in the U.S. retail market, and new distribution channels in Canada, Europe, and Asia. Donna Dubinsky, founder and CEO of Handspring, said, "We are pleased to report such outstanding results in our second quarter as a public company. We continue to see broad acceptance of our products and the Springboard platform across all regions of the world. We feel very positive about our position as we head into the holiday season." Handspring showed gross margins of 31.2% for the quarter, up slightly from the prior quarter. Excluding amortization of deferred stock compensation, Handspring reported a net loss of $8.0 million during Q1. Excluding amortization of deferred stock compensation, total operating expenses were $32.6 million, or 46% of revenue. Including amortization of deferred stock compensation, net loss for the quarter was $16.4 million. Mang

To: David E. Taylor who wrote (2208)	10/17/2000 9:28:35 PM
From: Mang Cheng	Respond to of 6784

"Fidelity Managers Pin Hopes On Energy, Finance In 3Q" By ALLISON BISBEY COLTER Of DOW JONES NEWSWIRES NEW YORK -- Technology is no longer making or breaking portfolio managers at Fidelity Investments. Fidelity's largest mutual funds profited in the third quarter by trimming their tech holdings in favor of "old economy" stocks such as energy, finance and healthcare. The flagship $103.65-billion Magellan Fund returned a negative 0.59% in the third quarter. Manager Bob Stansky finished the quarter with a technology weighting of 29%, down from 35% at the end of the second quarter, and increased finance holdings to 14.3% of the portfolio from 11.7%. The third-quarter decline brought Magellan's return for the year down to 0.11%. Stansky outperformed the Standard & Poor's 500 Index, which fell 1.24% in the third quarter. Donald Dion, publisher of the Fidelity Independent Adviser newsletter, attributed this to Stansky's stock selection. "You're seeing a lot of earnings surprises in the technology area, but not in healthcare, biotechnology or energy," he said. Stansky wasn't alone in his convictions. The $16.96-billion Fidelity Fund returned negative 0.81% in the third quarter as it cut technology to 28% of its portfolio from 30.8% at the end of the second quarter. Manager Nick Thakore, who replaced Beth Terrana in June, increased the weighting of finance stocks to 16.1% from 13.4% while energy rose to 7% of assets from 5.9%. The $35.54-billion Growth Company Fund returned 2.7% in the third quarter as manager Steven Wymer cut his technology weighting to 41.9% from 46.6% and increased healthcare to 17.6% of the portfolio from 14.8%. The reduced tech weightings partly reflect a decline in the market value of these funds' holdings, but Jim Lowell, editor of the independent newsletter Fidelity Investor, said the managers' decision to remain underweight in technology, relative to the S&P 500, rather than hunt for bargains, speaks volumes. "If Fidelity was feeling bullish about technology, you would have seen a buying across the board," Lowell said. But David O'Leary, president of Alpha Equity Research, said some Fidelity managers didn't so much get out of technology in the third quarter as move from older tech companies into newer ones. This was most evident at Magellan Fund, where Microsoft (MSFT) and Intel Corp. (INTC) dropped out of the top ten holdings to be replaced by EMC Corp. (EMC) and Sun Microsystems (SUNW). Names like Palm Inc. (PALM) and Juniper Network (JNPR) are also making appearances in the top holdings of many Fidelity funds. "They're now making a bet on hand-held computing and wireless technology," O'Leary said.