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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Susan G who wrote (4900)	11/28/2000 10:56:25 PM
From: .Trev	Read Replies (1) \| Respond to of 8925

Hi Did you see this one? Embarcadero Technologies (EMBT: news, msgs) plunged 18 percent in afternoon action. A spokeswoman for the San Francisco provider of database management software declined comment on the movement but did confirm that Embarcadero hasn't released any news that would explain the decline. Jim Mendelson, an analyst with Wit Soundview, said he knows of no concrete reason for the sell-off. "We're not aware of any fundamental change at the company," said Mendelson, who has a "strong buy" rating and a $56 price target on the stock. "The business, which appears to be tracking fine, is also very linear so there shouldn't be any concerns about a back-loaded quarter." The shares fell $6.75 to $31.50, rebounding from a low for the session of $19.88. Internet Capital Group (ICGE: news, msgs) plummeted 17 percent in afternoon action. William Buckley, the CEO of the business-to-business incubator, said Tuesday that he does not expect the market for Internet IPOs to improve anytime soon. Speaking at Chief Executive Magazine's CEO e-Conference in New York, Buckley, whose firm has taken six companies public so far, said he has "no expectation that the market will recover soon." He told the group that he has been surprised how fast the market turned, and that the business-to-business field has not played out like he had expected. "I never thought companies would come together to form consortia, I thought they would be one to one." He added that he "would be surprised if the IPO market turns around in 2001." The shares fell $1.34 to $6.63. Kemet (KEM: news, msgs) dropped 20 percent after Merrill Lynch analyst Jerry Labowitz downgraded his intermediate term rating on the company along with two other makers of passive electronics components, Vishay Intertechnology (VSH: news, msgs), and AVX Corp. (AVX: news, msgs), to "neutral" from "buy." He based his decision on the belief that estimates for the next three months and beyond "are at risk." Labowitz said that the tight supply environment "may be unraveling a little quicker than we previously anticipated," which would hurt pricing. Kemet was also will replace Calpine (CPN: news, msgs) in the S&P Midcap 400 index. Calpine, which rose 4 percent, is being added to the S&P 500 index. SCM Microsystems (SCMM: news, msgs), which will replace Kemet in the S&P SmallCap 600 index, gained more than 10 percent on the news. Kemet shares lost $4.56 to $18.68, while Vishay fell $5.50 to $20.37 and AVX dropped $3.75 to $20.12. See full story. Pier One Imports (PIR: news, msgs) slipped more than 14 percent after the Fort Worth, Texas, specialty retailer said it expects November same-store sales to rise roughly 7 percent. Third-quarter same-store sales are estimated to rise within a range of 10 and 11 percent, the company said in a press release issued prior to Tuesday's opening bell. The shares lost $2 to $11.87. Rational Software (RATL: news, msgs) dived 17 percent after the company agreed to acquire the remaining shares of Catapulse Inc. that it doesn't currently own for roughly $405 million in stock. The company already owns 35 percent of Catapulse. Rational also backed its guidance for the second half of fiscal 2001 and raised its revenue projection for fiscal 2002 by $50 million to a range of $1.05 billion and $1.15 billion. Rational shares lost $6.31 to $32. Rhythms NetConnections (RTHM: news, msgs) stumbled more than 13 percent on news that the company has deferred payment of $5.1 million quarterly dividend on its 6.75 percent Series F cumulative convertible preferred shares. The company said it has the funds but its debt indentures prevent it from paying cash dividends on the preferred stock while the indentures remain outstanding. As of Sept. 30, Rhythms had cash, investments and restricted cash of $748 million, which it believes is sufficient to fund operations. The shares lost 22 cents to $1.44. T/R. Systems (TRSI: news, msgs) plunged 33 percent after the company reported third-quarter net income of $2 million, or 16 cents a share, on revenue of $9.1 million. Analysts polled by First Call expected a profit of 11 cents a share. Last year, the company posted earnings of $201,000, or 2 cents a share, on revenue of $5.8 million. A spokesman told CBS.MarketWatch.com that revenue in the latest quarter missed Wall Street expectations and that the company lowered its guidance going forward. The shares fell $3.06 to $6.19. Vyyo (VYYO: news, msgs) plummeted more than 33 percent after analyst James McIlree at Tucker Anthony lowered his rating on the shares of the broadband access provider to "market perform" from "strong buy." McIlree said uncertain future over usage of the MMDS frequency could weigh on equipment manufacturers. The shares fell $5.31 to $10.50. -------------------------------------------------------------------------------- Michael Baron is a reporter for CBS.MarketWatch.com based in New York. Jason Margolis is a reporter for CBS.MarketWatch.com.