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

To: pat mudge who wrote (15582)	12/28/2000 8:28:00 AM
From: Peter Sherman	Read Replies (3) \| Respond to of 24042

IMHO there are two types of analysts -- 1 - public - just really shills, with Hold = Sell BS pronouncements and the like -- 2 - private - their analysis is internal and for their money manager principal's EYES only -- the real deal don't waste your time talking about type-1 and do your own analysis

To: pat mudge who wrote (15582)	12/28/2000 8:45:07 AM
From: allen menglin chen	Respond to of 24042

FOOL ON THE HILL fool.com Accounting Fireworks First, the Financial Accounting Standards Board proposes that companies needn't amortize goodwill, then it says its proposal should be retroactive. If this proposal becomes a rule, investors will see earnings soar. You should know what this means for calculating returns on equity and operating margins. By Richard McCaffery (TMF Gibson) December 27, 2000 ... As an encore, the FASB announced Dec. 20 that its proposal should be retroactive, meaning companies currently amortizing goodwill no longer have to do so. How big a deal is this? Look at optical components manufacturer JDS Uniphase (Nasdaq: JDSU). The San Jose, California company has spent more than $40 billion in the last 18 months buying up competitors. (This figure includes SDL (Nasdaq: SDLI), an acquisition still pending.) Since it used the purchase method to account for most of these acquisitions, and most of the companies it bought had little in the way of tangible assets, JDS parked a massive amount of goodwill on its balance sheet. Turn to its latest 10-K and you'll see JDS has more than $22 billion in goodwill and intangible assets. According to present accounting rules, that goodwill must be amortized over a maximum of 40 years, which is why fiscal 2000 earnings were reduced by an $897 million goodwill amortization charge. Now, if the FASB proposal goes through, JDS won't have to amortize that goodwill unless it becomes impaired, or loses value. Suddenly, JDS would be reporting an additional $897 million in earnings -- which means rather than reporting a $907 million net loss last year, JDS pretty much broke even. In truth, most investors and managers already ignore these amortization charges when looking at the income statement. Amortization expenses are non-cash charges, thus they don't impact the amount of money a firm has at its disposal. Further, in a number of cases, goodwill actually increases in value. In these cases, it doesn't make economic sense to write down an asset that isn't spoiling. Therefore, regarding JDS, most investors would understand adding back $897 million in amortization charges isn't a change in economic substance, but rather one of accounting form. ...

To: pat mudge who wrote (15582)	12/28/2000 9:18:21 AM
From: Curtis E. Bemis	Read Replies (1) \| Respond to of 24042

Techbits-"Rumors Take On New Weight Thanks In Part To The Internet" We might take note of this short blurb in todays IBD- p. A4, by Murray Coleman. " Investors beware- These dog days in the stock market mean that even the most trivial event can take on a life of its own. Just ask the folks at BroadVision Inc. The value of their stock dropped almost 15% in one day recently after an analyst noted that a large client had discontinued plans to expand part of its business-to-business e-commerce program. The customer, a division of GE Electric Co, decided to defer launching a single Web site. The fact that GE operates hundreds of Web sites, many of which use BroadVisions B2B software, got lost in the shuffle. Online news outlets, wire services, and cable news channels spread the reports. Stock industry pros say what happened with BroadVision isn't unique. Analysts are privately complaining about overeager sales pros inside their own investment houses. Technology helps many of these marketers spread rumors to a wider audience. 'People make mistakes'. says Keith Crosley, a BroadVision spokesman. 'But there is a lesson here for investors'"

To: pat mudge who wrote (15582)	12/28/2000 9:41:46 AM
From: riposte	Read Replies (1) \| Respond to of 24042

Internet use grows even as dot-coms die Hi Pat - This article, from ITWorld.com, is a good example of why I remain optimistic on telecom infrastructure. Strange that everybody's talking about how "demand is slowing" from the telcos, but somehow, the demands on the infrastructure continue to increase... :-)) Steve Internet use grows even as dot-coms die Nielsen study indicates users are happy staying longer on fewer sites Ashlee Vance, IDG News Service December 19, 2000 The number of people with Internet access in the U.S. continues to rise, and the Web-surfing public appears increasingly attentive when on the Web, according to a study released Thursday by Nielsen/NetRatings, a service of Nielsen Media Research Inc. and NetRatings Inc., according to a statement by the companies. About 56 percent of the population had home access to the Internet in the month of November. This number handily beat last year's figure of 43 percent during the same period. In addition, the number of page views each month rose 32 percent this year, which according to NetRatings indicates that users are more fully exploring the content on a given site. While frequent reports of Internet content providers shutting down continue to grab headlines, the increase in Internet usage coincides with the expectations of many analysts. Industry pundits have long predicted heavy consolidation in many information technology sectors. Less choice on the Web, however, does not mean users will not turn to the Net for information and services, but rather that they will remain longer on a few trusted sites. Yahoo Inc. seems to be benefitting most from recent Web trends. America Online Inc. (AOL) claimed more users in November but did not keep them for nearly as long as Yahoo did. For the month, more than 70 million home and office users visited an AOL-owned website. Each user spent just under 44 minutes on AOL-owned sites. Although Yahoo snagged only 65 million users, it managed to keep each one for 1 hour and 36 minutes. Of the top 25 sites, few kept a user's attention for more than twenty minutes a month. The only three to break the 1-hour barrier were Yahoo, Microsoft Corp.'s MSN portal and eBay Inc.'s Web properties. eBay beat the entire field, with users keeping track of the auction front for more than 2 hours per month. Nielsen Media Research, in New York, can be reached at +1-212-907-4220. NetRatings Inc., in Milpitas, California, can be reached at +1-408-957-0487. Nielsen/NetRatings is at www.nielsen-netratings.com. Ashlee Vance is a correspondent for IDG News Service. www2.itworld.com