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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (1103)	12/13/2000 5:53:21 PM
From: Ibexx	Respond to of 2260

Wednesday December 13, 4:51 pm Eastern Time Optical Equipment - Deutsche Banc Alex. Brown's Raj Srikanth Initiates Research Coverage of Corning and Oni Systems NEW YORK, Dec. 13 /PRNewswire/ -- Deutsche Banc Alex. Brown analyst Raj Srikanth today initiated coverage of two optical equipment stocks -- Corning Incorporated (NYSE: GLW - news; $74.00) and ONI Systems Corp. (Nasdaq: ONIS - news; $61.00), both with an investment rating of BUY. According to Srikanth, ``Corning is rapidly emerging as one of the world's leading optical component vendors, having completed a series of strategic acquisitions in the components sector in the last 18 months. The company has become a strong and very viable competitor in one of the fastest growing markets of the telecom equipment sector.'' Srikanth's enthusiastic investment opinion of Corning is supported by the following factors: -- The market and technology leader in optical fiber. -- Highly focused strategy -- A solid balance sheet and solid growth. -- Burgeoning optical component market. -- One-stop shopping for fiber and a wide range of components. As a pure optics play in the metro market, Srikanth notes that ONI is emerging as a significant competitor. ``Our rating is based on our belief that the metro market will be an area of intensive capital investment by carriers in the near term and ONI is ideally positioned to benefit from those investments.'' Srikanth's positive investment opinion of ONI is supported by the following factors: -- A high growth market. -- Focused business strategy. -- Rapidly growing customer base. -- Continued margin improvement and strong revenue growth is moving ONI toward profitability Sriankth has indicated that the stock has near term risk and investors should be aware that there are a significant number of shares that will become available for trading following a lock-up release in January 2001. Deutsche Banc Alex. Brown identifies the US investment banking activities of DB Alex. Brown LLC (formerly BT Alex. Brown Incorporated) and Deutsche Bank Securities Inc., which are indirect subsidiaries of Deutsche Bank AG. With over EUR995 billion in assets as of September 30, 2000 and approximately 95,000 employees, Deutsche Bank offers its clients unparalleled financial services throughout the world. It ranks among the leaders in asset management, capital markets, corporate finance, custody, cash management and private banking. Deutsche Bank is divided into five major business units: Global Corporates and Institutions, Global Technology and Services, Asset Management, Corporates and Real Estates and Private and Retail Banking. Deutsche Bank Securities Inc. maintains a net primary market in the common stock of Corning Incorporated and ONI Systems. Corning Incorporated and ONI Systems stocks are optionable. Corning Incorporated and ONI Systems Corp. have convertible issues outstanding. Information herein is believed to be reliable and has been obtained from sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. Opinions, estimates, and projections constitute our judgment and are subject to change without notice. This publication is provided to you for information purposes only and is not intended as an offer or solicitation for the sale of any financial instrument. Deutsche Bank Securities Inc., DB Alex. Brown LLC, and their affiliates worldwide, may hold a position or act as market maker in the financial instruments of any issuer discussed herein or act as advisor or lender to such issuer. Transaction should be executed through a Deutsche Bank entity in the client's home jurisdiction unless otherwise permitted by law. Deutsche Bank Securities Inc., and DB Alex. Brown LLC, are members of NYSE and NASD. Deutsche Bank Securities Inc., and DB Alex. Brown LLC. In the U.S. this report may be distributed either by Deutsche Bank Securities Inc., or DB Alex. Brown LLC. Interested parties are advised to contact the U.S. entity they currently deal with, or the U.S. entity that has distributed this report to them. SOURCE: Deutsche Banc Alex. Brown Ibexx