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

To: N. David Lessani who wrote (17827)	2/6/2001 2:39:56 AM
From: pat mudge	Read Replies (1) \| Respond to of 24042

Thanks for the article. When there's so much negativity, it's good to see something that validates a healthy sector. Here's the DBAB report that came out earlier today. JDS UNIPHASE CORPORATION [JDSU] "BUY" Getting Closer to Judgement Day, Short-Term Visibility Continues to be Challenging ------------------------------------------------------------------------------- Date: 02/02/2001 EPS 2000A 2001E 2002E Price: 50.0 1Q 0.08 0.18 NE 52-Wk Range: 153 - 37 2Q 0.09 0.21A NE Ann Dividend: 0.0 3Q 0.11 0.21 NE Ann Div Yld: 0.00% 4Q 0.14 0.22 NE Mkt Cap (mm): 50,600 FY(Jun.) 0.42 0.82 1.12 3-Yr Growth: 50% FY P/EPS NM 61.X 44.6X CY EPS 0.62 0.95 NE Est. Changed No CY P/EPS 80.6X 52.6X NM HIGHLIGHTS: 1. We expect DOJ approval for the SDLI merger to come through this week and shareholders of both JDSU and SDLI should be able to vote on the merger on February 12th, the scheduled date for the joint shareholder meeting. 2. Continued inventory issues at system vendors coupled with carrier capex uncertainties lead us to believe that achieving the 7%-10% (management's guidance) sequential revenue growth in the current quarter is quite challenging. 3. Accordingly we have revised our sequential revenue growth estimates for the current quarter to 5% for 3Q FY 01 and 5% for 4Q FY 01 from our earlier estimate of 8.5% and 8% respectively. We are retaining our EPS estimates. 4. Our preliminary analysis indicates that the Pro Forma JDSU/SDLI EPS, post Zurich plant divestiture would be neutral to mildly accretive to JDSU's current estimated FY 2002 EPS of $1.12. 5. We reiterate our Buy rating on the stock as a combination of JDSU and SDLI would give rise to the largest and most profitable company in one of the fastest growing sectors of the economy despite the current visibility problems in the short term. The current weakness in the stock, in our opinion, provides an excellent entry point for investors looking to build a position, as we believe the DOJ approval this week will remove the uncertainty clouding the stock. Pat

To: N. David Lessani who wrote (17827)	2/6/2001 9:43:15 AM
From: pat mudge	Respond to of 24042

Front page of The Financial Times: news.ft.com JDS Uniphase wins approval for $17bn SDL takeover By William Hall in Zurich and FT.com staff Published: February 6 2001 13:17GMT \| Last Updated: February 6 2001 14:38GMT JDS Uniphase, the optical components maker, said on Tuesday it had won approval from the US Department of Justice for its $17.7bn takeover of rival SDL. To gain clearance for the deal, JDS said it had sold a Swiss laser unit to Nortel Networks in a stock deal worth as much as $3bn. JDS had twice delayed a shareholder vote on its pending merger with SDL because of the continuing negotiations with US regulators. The shareholder meetings at JDS and SDL will now take place on February 12. Jozef Strauss, chief executive of JDS, said the company was "looking forward to quickly completing the (Nortel) transaction and moving ahead with the merger". . . . And from The New York Times: nytimes.com dailynews.yahoo.com