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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (115754)	10/28/2000 9:03:59 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

Does it matter who? Its tantamount to shouting "bomb" on a plane or "fire" in a crowded Movico theatre.. Just breathe the expletive "DOWNGRADE" and the stock will move down. Unfortunately the opposite is NOT the truth. Upgrades do little for the most part, more than center the traders attention to the next probable short bait. ....from Barron's JDS Uniphase still trades for a hefty 100 times projected profits for the fiscal year ending in June. Sycamore, an upstart with a huge valuation and small current sales, fell 20 to 65.13, well below its earlier high of 199. But it still trades for 400 times projected earnings for its July 2001 fiscal year. Ciena was off 45 to 104.38 and Corning dropped 30 to 76. The optical setback prompted a flight from other tech issues with super-high multiples, including Juniper Networks, which fell 51 to 181-still more than 200 times projected 2001 profits. But investors decided to rotate into the old tech bellwethers, Microsoft and Intel, which trade for more modest valuations. Microsoft was up 2.50 to 67.69 and Intel gained 3.31 to 46.38. Cisco, which fell 6.50 to 50.69, appeared to be the victim Friday of a new trend: downgrade rumors. Cisco's stock was off nearly three points Friday amid talk that at least one major analyst may cut his rating on Cisco this week ahead of the company's profit report in November. Indeed, the prescient call by Sanford Bernstein analyst Paul Sagawa downgrading Cisco, Nortel and other telecom equipment stocks in late September apparently was the subject of rumors before Sagawa acted. Indeed, Nortel rallied two points on the day of his report, September 28, after falling by 6 in the prior session.