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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (38458)	10/18/2000 2:14:37 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Would ALTR be doing this if they saw a downturn on the horizon? Monday October 16, 7:20 pm Eastern Time Press Release Altera Increases Share Repurchase Authorization SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 16, 2000--Altera Corporation (NASDAQ:ALTR - news) today announced that its Board of Directors has authorized doubling from 24.0 million to 48.0 million the number of shares authorized for repurchase under the company's share repurchase program. Under the program, which was previously authorized by the Board of Directors, shares may be purchased in the open market from time to time at the discretion of the company's management. About Altera Altera Corporation, The Programmable Solutions Company®, was founded in 1983 and is a leading supplier of programmable logic devices (PLD's). Altera's CMOS-based PLD's are user-programmable semiconductor chips that enhance flexibility and reduce time-to-market for companies in the communications, computer peripheral, and industrial markets. By using high performance devices, software development tools, and sophisticated intellectual property cores, system-on-a-programmable-chip (SOPC) solutions can be created with embedded processors, memory, and other complex logic together on a single PLD. Altera common stock is traded on the Nasdaq Stock Market under the symbol ALTR. More information on Altera is available on the Internet at altera.com. Altera, The Programmable Solutions Company, and specific device designations are trademarks and/or service marks of Altera Corporation in the U.S. and other countries.

To: Gottfried who wrote (38458)	10/18/2000 6:41:12 PM
From: Jacob Snyder	Read Replies (2) \| Respond to of 70976

re: BTB correlation with stock price: I remember having an extensive discussion on this topic in 1998. My conclusion at the time was that bookings were a better number to follow than the ratio (BTB). The reason for that preference, was that: 1) the BTB could be changed by changes in either of the numbers that it's calculated from, and 2) the BTB is a "derived" number, one step removed from directly-measured reality. Further, I came to the conclusion that bookings were, at best, a coincident indicator. First, a semi company sends an order to a semi-equip company. Later, the data is gathered and made public. Later, the numbers are revised. Later still, the numbers are revised for the final time. An investor using a peak (or trough) in bookings has to wait until bookings have increased for 2 months, to avoid acting on a one-month blip (noise in the signal). So, by the time the info is clear and complete, the turn happened 2-5 months ago. By that time, the stocks are probably 40% off their lows. So, after a lot of time looking at this indicator, I concluded that it wasn't all that useful. JS@stilllookingfortheholygrail.com