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To: Mark Fowler who wrote (116186)	1/25/2001 11:38:06 AM
From: H James Morris	Read Replies (4) \| Respond to of 164684

Mark, buy into splits. >LAKE HARMONY, Pa., Jan 25, 2001 (BUSINESS WIRE) -- As Wall Street knows, stock split and buyback announcements move stocks. StockSplits.com is the premier provider for Real-Time alerts by Email, Pager, PCS Phone, Palm Pilot, BlackBerry, etc. Split and Buyback announcements are back, with many stocks making impressive gains. StockSplits.com has alerted investors to dozens of these announcements already this month. Listed below is the performance of a few examples: America Online (NYSE: AOL chart, msgs) just announced a $5 Billion stock buyback and moved to higher levels. Check Point Software (NASDAQ: CHKP chart, msgs) announced a 3 for 2 stock split and went up 30 points in four days. International Business Machines (NYSE: IBM chart, msgs) announced a $3.5 Billion stock buyback and gained 16%. Brocade Communications (NASDAQ: BRCD chart, msgs) announced a 2 for 1 split and gained 30%. Sanmina Corp (NASDAQ: SANM chart, msgs) announced a 2 for 1 split and gained over 30% in price. Real-Time Split and Buyback Alerts provided by www.StockSplits.com

To: Mark Fowler who wrote (116186)	1/25/2001 12:00:35 PM
From: H James Morris	Respond to of 164684

Mark, I bought Imnx this morning at 30 1/2 as a long term buy...because of the $1.6 billion in cash! >A funny thing happened to Immunex stock after normal trading ended yesterday. As an executive of the Seattle biopharmaceutical company talked about 2001 sales for its blockbuster rheumatoid-arthritis drug, the shares began a slide that stretched nearly to $2. Immunex, which reported slightly better-than-expected profits for 2000 and its fourth quarter, said Enbrel's sales target would be $750 million, up 15 percent from 2000's $652 million. Immunex is in the awkward position of having a product the public can't get enough of, and an inability to meet that demand. Plans call for a Rhode Island facility to begin delivering the highly sought drug - about 70,000 patients already use it - by mid-2002. The sudden drop in stock price concerned Andrew Heyward, an analyst with the Ragen MacKenzie brokerage in Seattle. "I don't get that," said Heyward. "They just reiterated Enbrel sales will be constrained, which has been known since the middle of last summer." In normal trading, Immunex closed up $1.06, to $34.38. After hours, it ended at $32.50. "Overall, the quarter was fine," Heyward said. Immunex, a public company since 1983, reported its best quarter ever. Profit was $49.2 million, or 9 cents a share, a penny better than Wall Street had expected. That was about triple the year ago's $16.2 million, or 3 cents a share. Sales jumped 54 percent, to $250.7 million from $163 million. For the company's best year ever, profit was $154 million, or 28 cents a share, 3-1/2 times the year ago's $44 million, or 8 cents a share. Sales rose 59 percent, to $862 million from $542 million. The strong sales and a stock offering ladened Immunex with a war chest of $1.6 billion. Chairman Ed Fritzky said the riches will enable the company to do something it has never done before: launch two clinical trials in the same year. Those trials will test products to treat inflammation and cancer. "We're financially prepared with an outstanding cash position," Fritzky told analysts and investors on a conference call after numbers were released. The tail wagging the dog remains Enbrel. Last year was only its second year commercially. Sales vaulted 78 percent. Because of the manufacturing constraints, Immunex has started a waiting list for patients unable to get the therapy. Peggy Phillips, chief operating officer, said the list, unveiled only this month, already has about 1,000 names on it. Heyward said the Enbrel issue already has been largely addressed by analysts. From previous 2001 profit expectations of 35 cents a share, they now hover around 29 cents. There's a bright spot for Immunex: a lower target to beat this year.

To: Mark Fowler who wrote (116186)	1/25/2001 4:22:04 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Mark, prudential can shove it. I'm in Imnx until the end! Immunex has a problem...more demand than supply. That can fixed. Trust me. >NEW YORK, Jan 25 (Reuters) - Prudential Securities said it cut its price target on shares of drug maker Immunex Corp. a day after the company said manufacturing limits remained for its rheumatoid arthritis treatment Enbrel. Prudential analyst Robert Toth cut his 12-month target on Immunex stock to $40 per share from $55 per share. Shares slumped $1-7/16, or more than 4 percent, to $32-15/16 in afternoon trade. Toth said in a research note that the capacity issue has caused him to lower 2001 estimates for Enbrel to $750 million from $850 million. Enbrel sales in 2000 were $652 million, the company said in its fourth-quarter earnings release. "While we anticipate numerous advancements on all product fronts for Immunex in 2001, we believe that the overshadowing presence of Enbrel supply constraints could dampen investor enthusiasm," Toth said. REUTERS Rtr 15:43 01-25-01