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

To: Boplicity who wrote (18270)	11/20/2000 9:48:03 PM
From: pinhi	Read Replies (1) \| Respond to of 65232

It could happen. Lots of Wall Street layoffs after the '87 crash. NYC real estate also crashed. IPOs dried up. Heck, for years the rule of thumb was never buy an IPO-they always go down. Far different from what we've had the last few years. I remember in '88 or there abouts, the PE for the S&P 500 was 13 and a Dean Witter analyst suggested that the PE might expand to 15 or even 16-wow, we thought that was unbelievable. Pinhi Pinhi

To: Boplicity who wrote (18270)	11/20/2000 10:22:43 PM
From: stockman_scott	Respond to of 65232

The Night Watch: Nortel, Agilent Give Investors Two Reasons to Throw an After-Hours Party By Diane Hess Staff Reporter The Street.com 11/20/00 8:07 PM ET Today's market did not give investors much incentive to play the after-hours game -- the Nasdaq Composite Index closed down 151.5 points to 2875.6, its lowest level in more than a year. Needless to say, volume in extended trading was thin. Still, the good news is that there have been a few things to celebrate after hours, which has sent a clutch of tech stocks higher in nighttime trading. In one positive development, Nortel (NT:NYSE - news), whose stock was hammered after the company reported third-quarter earnings, announced tonight that it expects revenue and earnings per share to grow in the low 40% range in 2000. The networking equipment company will hold a meeting with analysts in Boston tomorrow. The networking company said it was "very confident" in its previously stated guidance of fourth-quarter earnings from operations of 26 cents a share and revenue of $8.5 billion to $8.8 billion. Overall, the company expects continued strong growth in optical, wireless and local Internet and e-business products. Analysts expect Nortel to earn 26 cents a share in the fourth quarter and 74 cents a share for the year. They anticipate fourth-quarter revenue of $8.62 billion and revenue for the year of $30.16 billion. (TheStreet.com covered Nortel's news in a separate article .) In post-close trading, shares of Nortel advanced 50 cents, or 1.4%, to $35.75 on Instinet. -------------------------------------------------------------------------------- Another event tech investors were celebrating tonight: Agilent Technologies (A:NYSE - news) announced very strong first-quarter earnings after the closing bell. The news sent its stock up $1.63, or 3.6%, to $46.25 on Instinet. Thanks to strength in its communications market, the electronics testing and manufacturing company announced earnings of 66 cents, topping the First Call/Thomson Financial estimate of 53 cents and the year-ago 39-cent result. (For a fuller account of Agilent's earnings announcement, see TSC's separate take.) -------------------------------------------------------------------------------- Meantime, some of the stocks that got hammered during the regular session saw a bit of a reprieve after hours. Oracle (ORCL:Nasdaq - news), one of the main casualties in today's technology bloodbath, got a little first aid from post-close investors. Shares of the enterprise software manufacturer climbed 25 cents, or 1%, to $25 on Instinet; Oracle was also the platform's most-active stock. The tech stock lifted 19 cents, or 0.76%, to $24.94 on Island. On Friday evening, the company announced that Executive Vice President Gary Bloom was leaving to become CEO of Veritas (VRTS:Nasdaq - news). The news hit the stock hard, since there was rampant speculation that Bloom had been being groomed to succeed Oracle CEO Larry Ellison. (TheStreet.com wrote a separate story about the leadership change.) Other companies that have returned, like boomerangs, to the after-hours spotlight include Cisco Systems (CSCO:Nasdaq - news) and Juniper Networks (JNPR:Nasdaq - news). But though these are familiar names on the after-hours most-actives list, the stocks top the charts tonight thanks to daytime downgrades. This morning, Morgan Stanley Dean Witter hacked its outlook on a trio of networking stocks, including Cisco and Juniper. As a result, shares of the former dropped 2.84% during regular trading, while the latter's stock fell 21.1%. On the after-hours market, Cisco gained 2 cents, or 0.03%, to $51.27 on Island and added 14 cents, or 0.3%, to $51.39 on Instinet. Juniper, meantime, extended its losses by 38 cents, or 0.3%, to $121.50 on Instinet but lifted 50 cents, or 0.4%, to $122.38 on Island.