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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: DBrian who wrote (15536)	12/27/2000 12:41:47 PM
From: Red Heeler	Read Replies (1) \| Respond to of 24042

JDS Uniphase stock rebounds from recent rout Reuters Company News - December 27, 2000 12:23 Copyright 2000 Reuters Limited. All rights reserved. OTTAWA, Dec 27 (Reuters) - Shares in battered JDS Uniphase Corp. surged more than 8 percent on Wednesday as bargain-hunting investors turned to the world's No. 1 fiber-optic component supplier. "All you need to do is look at the chart and see three weeks of straight (declines) to recognize that every dog has its day," said Kevin Slocum, an optical analyst at Wit SoundView. "At these levels, the stock looks pretty interesting...and the fact that we've got a limited fuse left on the year to potentially have it blow up on you is probably giving people some reason to wade in." Shares in JDS added C$6.30 to C$70.80 on the Toronto Stock Exchange on Wednesday and picked up $3-5/8 to $45-1/2 on Nasdaq. The stock is down about 30 percent from its value just three weeks ago when a market-wide battering of high-tech shares sent JDS into steep declines. The gains on Wednesday came despite a downgrade to buy from strong buy from Deutsche Banc Alex Brown analyst Raj Srikanth on Tuesday. In a report, Srikanth wrote that checks with optical component customers showed lead times for orders had halved from about eight weeks to four or five weeks. That is not expected to affect the second quarter, which JDS will report in January, but will make it difficult for the firm to meet Srikanth's estimate for third-quarter sales growth of 12 percent over the second quarter, he wrote. There is no imminent news expected on JDS's acquisition of SDL Inc. , said Slocum, given that both the chief executive and chief financial officers of JDS are out of town. The companies said last week they expect the deal to close in January, later than expected, due to antitrust issues. ($1=$1.51 Canadian)