Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: t2 who wrote (18589)	2/14/2001 5:25:12 PM
From: Tunica Albuginea	Respond to of 24042

REUTERS:JDS Shares Gain in Advance of S&P Change dailynews.yahoo.com Wednesday February 14 4:54 PM ET By Susan Taylor OTTAWA (Reuters) - Shares in JDS Uniphase Corp. (Toronto:JDU.TO - news) (NasdaqNM:JDSU - news), the world's No. 1 supplier of fiber-optics components, surged to close 7 percent higher on Wednesday after following a roller-coaster path through the day. The stock was the most active on Nasdaq with nearly 114 million shares changing hands. Earlier in the day it touched new 52-week lows, bottoming out at $36-3/4 on Nasdaq, below the previous low of $37, and at C$58.40 on Toronto, below the previous nadir of C$59.35. Their year high on Nasdaq was $153-7/16 and C$219.00 on the TSE. The stock ended the day higher in advance of its increased weighting on the S&P 500 index. JDS was being reweighted after the market close due to its acquisition of SDL Inc. (NasdaqNM:SDLI - news), the world's No. 2 supplier of components to boost the speed and capacity of telecoms optical networks. JDS, which issued 332.2 million shares to acquire SDL, will exchange 3.8 of its shares for each of SDL's 87.4 million shares. JDS currently has 961.5 million shares on the index. The shift is expected to boost buying of JDS stock among fund managers whose funds reflect share weighting on the S&P 500. JDS shares closed at $41-1/4 on Nasdaq and at C$65.50 on the Toronto Stock Exchange. Their 52-week low is $37 on Nasdaq and C$59.35 in Toronto. The late-session gains followed a day of whipsaw trade spurred by a mixed bag of analyst reactions to a JDS earnings warning on Tuesday. Most analysts maintained existing recommendations, though some downgraded the stock and others cut their stock price targets. Any bad news from the analysts may have been softened by investors covering short positions on the stock, said one analyst. ``For anybody who shorted it in the last two weeks they're probably pretty happy, got the news and are thinking about covering,'' said Sanford Bernstein analyst Paul Sagawa. ``We won't know for another couple of days exactly how the market's really reacted to this.'' JDS told analysts it expects third-quarter earnings of 17 cents versus consensus forecasts of 21 cents. The company cited the affects of its merger with SDL, the weakening U.S. economy, and customers such as Nortel Networks Corp. (Toronto:NT.TO - news) (NYSE:NT - news) and Lucent Technologies Inc. (NYSE:LU - news) working through stockpiled inventory. SG Cowen downgraded JDS to a buy from a strong buy, and Adams Harkness & Hill cut the stock to a market perform rating from a buy citing ongoing growth concerns. ``While the stock is way down and probably anticipated much of last night's new and reduced guidance, it remains clear to us that the business continues to weaken,'' wrote analyst Adams Harkness & Hill analyst Jim Kedersha in a research note. Salomon Smith Barney cut its price target to $55 from $75 and WR Hambrecht & Co. dropped its stock target to $60 from $85. JDS, which said uncertainty over sales demand has increased since it reported its results three weeks ago, forecast consolidated revenues for fiscal 2001 of $3.9 billion and earnings of 74 cents a share. Analysts were expecting sales of $3.8 billion and earnings of 82 cents. ``It is not impossible that numbers may come down some more,'' said Jim Liang, analyst at WR Hambrecht & Co. Liang, who reiterated his buy recommendation, said the stock price represents an attractive entry point for investors who can wait for a potential market recovery later this year. Epoch Partners analyst Mark Langley wrote that JDS stock is now undervalued, and long-term investors should maintain their holdings. ``While some investors may react strongly to JDS Uniphase's more conservative guidance for the next quarter and the full fiscal year, we believe that investors as a group have already priced in a more pessimistic outlook,'' Langley wrote. ($1-$1.53 Canadian)

To: t2 who wrote (18589)	2/14/2001 5:27:12 PM
From: Tunica Albuginea	Respond to of 24042

Reuters:Nortel stock touches new lows on range of rumors biz.yahoo.com Wednesday February 14, 3:21 pm Eastern Time (UPDATE: Figures in U.S. dollars unless noted) OTTAWA, Feb 14 (Reuters) - Shares in Nortel Networks Corp. (Toronto:NT.TO - news) (NYSE:NT - news), the world's No. 1 supplier of fiber-optic network equipment, touched a 52-week low on Wednesday amid a range of rumors, including speculation that JDS Uniphase Corp. (Toronto:JDU.TO - news) (NasdaqNM:JDSU - news) was set to sell $2.5 billion in Nortel shares used to buy a JDS manufacturing plant. JDS is not preparing to sell its Nortel shares, chief financial officer Anthony Muller told Reuters. Nortel will issue about 65.7 million shares to JDS for a Zurich laser chip manufacturing plant. ``You might also want to advise the rumor mongers that we can't sell the shares now because they are not registered,'' Muller said. ``We'll be able to sell some or all of those shares one year following yesterday...but right now the shares are not salable, so we have no immediate plans to sell them.'' JDS closed its acquisition of SDL Inc. (NasdaqNM:SDLI - news) on Tuesday, a deal that gained approval only after JDS sold the Zurich plant to Nortel. The rumor helped send shares in Nortel as low as $27.75 on Wednesday on the New York Stock Exchange, below their previous low of $29.13. On the Toronto Stock Exchange the stock bottomed out at C$42.26, below a previous low of C$43.49. By late afternoon, the shares had rebounded moderately to $28.99 in New York and C$44.30 in Toronto. The stock is about 64 percent off its year highs of $84.94 in New York and C$124.50 in Toronto. ``There's lots of those rumors floating around and people are just generally nervous,'' said one trader who asked not to be named. ``There were some rumblings of them (Nortel) coming out with either a warning or guiding down their growth from the original 25-30 percent to 20-25 percent.'' A spokesman for Nortel said the company would only change its guidance through an official announcement, adding the firm would not comment on rumor and speculation. ``Even though (Nortel's) stock looks cheap it's because the sentiment has changed,'' said the trader. "The real downside is maybe the mid-C$30's -- I don't think it's going to C$20. ($1 equals $1.53 Canadian)

To: t2 who wrote (18589)	2/14/2001 5:32:40 PM
From: TigerPaw	Respond to of 24042

aggressive sellers Not that I know, but I would think that the aggressive short sellers were already short a few weeks or months ago and are just sitting. Small fry short sellers would be the new players. I would like to see higher volume continue. TP

To: t2 who wrote (18589)	2/14/2001 5:33:17 PM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 24042

CBS:After Hours It's a tech buyers market after hours www2.marketwatch.com By Nicole Maestri, CBS.MarketWatch.com Last Update: 5:20 PM ET Feb 14, 2001 NEW YORK (CBS.MW) - The regular-session buying interest in technology shares continued during Wednesday's after-hours session. Shares of computer heavyweights Cisco (CSCO: news, msgs) and Sun Microsystems (SUNW: news, msgs) posted gains, and software company Oracle (ORCL: news, msgs) ticked up. In the fiber-optics area, JDS Uniphase (JDSU: news, msgs) , Broadcom (BRCM: news, msgs) , Juniper Networks (JNPR: news, msgs) , Ciena Corp. (CIEN: news, msgs) and Sycamore Networks (SCMR: news, msgs) all added to regular-session gains. Separately, shares of Rare Medium and Arch Wireless surged in Island trading. Rare Medium shares climbed nearly 19 percent after the company beat quarterly expectations, and Arch bounced up 25 percent after saying it received a $250 million payment from Nextel Communications. Shares of Nvidia and Wireless Facilities rose after the companies posted better-than-expected quarterly results, while Credence Systems' shares slipped after the company reported numbers. In the broader markets, the Nasdaq battled its way back into the plus column to register a 2 percent gain, getting a lift from a strong performance by semiconductor stocks. The Dow Jones Industrial Average remained lower but managed to erase over half of its losses courtesy of smart gains in its technology components. Read Market Snapshot. Rare Medium Rare Medium (RRRR: news, msgs) reported earnings of $3.5 million, or 6 cents per share, compared with $3.2 million, or 4 cents per share, for the comparable quarter a year ago. The New York-based Web hosting and consulting company was expected to report earnings of 2 cents per share, according to First Call/Thomson Financial. On Island, Rare Medium shares traded at $2.65. Shares finished the regular session up 5.7 percent to $2.31. Arch Wireless Arch Wireless, Inc. (ARCH: news, msgs) said it has received the advances from Nextel Communications (NXTL: news, msgs) for $250 million under its previously announced agreement to sell 900 MHz Specialized Mobile Radio licenses. Under the agreement and after regulatory approval, Nextel will acquire the SMR licenses held by a subsidiary of Arch for $175 million and will invest $75 million in a new Arch equity issue. Arch shares closed up 3.7 percent to 88 cents. Credence Systems Credence Systems (CMOS: news, msgs) reported first-quarter figures 3 cents a share ahead of the First Call/Thomson Financial estimate, but off from last year's numbers. The maker of test equipment for the semiconductor industry reported earnings of $154.7 million, or 27 cents a share, down from $16.9 million, or 35 cents a share, during the same quarter last year. Sales grew by 21 percent, reaching $123.2 million. On Friday, the maker of automatic test equipment for the computer chip industry said it would cut 14 percent of its work force due to weakened order activity and lower-than-expected revenue. Credence shares traded down 63 cents to $22.63 on Island after shares of the Fremont, Calif.-based company closed up $1.63 at $23.35. Wireless Facilities After the market closed Wireless Facilities (WFII: news, msgs) , which plans, designs, deploys, and manages wireless networks reported a better-than-expected fourth-quarter profit. The company posted earnings of $12.1 million, or 24 cents a share, compared with the year-ago total of $4.6 million, or 11 cents a share. Analysts polled by First Call expected a profit of 22 cents a share. San Diego, Calif.-based Wireless Facilities said revenue totaled $80.1 million, up 124 percent compared with the year-ago period. The stock closed up 50 cents to $30.75 and added another $2.50 to trade at $33.26 on the Island ECN. Nvidia Nvidia Corp. (NVDA: news, msgs) , which manufactures graphics cards for multimedia computer programs, beat fourth-quarter earnings expectations. The Santa Clara, Calif.-based tech. company reported earnings of $31.1 million, or 38 cents a share, vs. $14.6 million, or 19 cents a share, during the same quarter last year. Nvidia was expected to earn 37 cents per share, according to First Call. Revenue jumped 70 percent, reaching $218.2 million. Shares traded at $50.23 on Island after closing up $3.25 at $47.69 ahead of the news

To: t2 who wrote (18589)	2/14/2001 5:38:10 PM
From: Tunica Albuginea	Respond to of 24042

Reuters:Techs Rally on Semis, Blue Chips Fall dailynews.yahoo.com Wednesday February 14 4:48 PM ET By Haitham Haddadin NEW YORK (Reuters) - Technology stocks surged on Wednesday as investors snapped up computer chip makers and related companies after better-than-expected earnings from Applied Materials Inc. (NasdaqNM:AMAT - news). But blue chips fell amid a raft of bleak corporate earnings, including those of food supplier ConAgra Foods Inc. (NYSE:CAG - news). The broader market was also weighed by lingering concern over Federal Reserve (news - web sites) Alan Greenspan (news - web sites)'s comments Tuesday that he sees a year-end rebound in the U.S. economy, which dampened expectations for deep interest-rate cuts. The technology-laced Nasdaq Composite Index (^IXIC - news) rose 63.69 points, or 2.62 percent, to 2,491.41, after losing 1 percent early in the day. That brought the Nasdaq back into the black for the year -- albeit up just 0.85 percent. The blue-chip Dow Jones industrial average (^DJI - news) fell 107.91 points, or 0.99 percent, to 10,795.41. The broad Standard & Poor's 500 Index (^SPX - news) shed 2.88 points, or 0.22 percent, to 1,315.92. ``Technology investors were looking for a hero and there has been none until Applied Materials stepped up and gave guidance for the second half of this year,'' said Scott Bleier, chief investment strategist at Prime Charter Ltd. ``Coming out of either a slowdown or a recession in technology, semiconductor and semiconductor equipment companies come out first.'' Applied Materials, the biggest manufacturer of gear for making computer chips, jumped $5-9/16 to $46-13/16 in very active trade after Wall Street house J.P. Morgan Chase raised its investment rating, along with those of rivals. The company reported quarterly results that beat diminished forecasts but trimmed expectations looking forward, citing a slowing economy and lower orders. Analysts said the economy's weakness was already factored into the shares and that recent selling had led to values for Applied Materials that many viewed to be a bargain. Morgan noted that rates of decline in Applied's performance should moderate later in 2002, adding it is ``encouraged'' by the 2002 outlook. The Philadelphia Stock Exchange semiconductor index (^SOXX - news) rose 7.82 percent, reflecting gains by others like No. 1 computer chip maker Intel Corp (NasdaqNM:INTC - news), up $1-11/16 at $34-1/8. J.P. Morgan Chase raised ratings on five semiconductor equipment makers, including KLA-Tencor Corp. (NasdaqNM:KLAC - news), up $6 to $43-1/8, saying pressure on Applied Materials could mean a good time to buy KLA stock. ``Rotation has been a characteristic of this market and continues,'' said Alan Ackerman, market strategist with brokerage Fahnestock & Co. ``Some bargain hunters are beginning to look for sold-out technology issues, which may rebound over the next few quarters in terms of earnings.'' Among companies to disappoint investors was ConAgra Foods (CAG.N), the largest U.S. food-service manufacturer. Its stock fell $4.85 to $20.01 after the company cut near-term profit estimates. Campbell Soup Co. (NYSE:CPB - news) fell 71 cents to $30.02 after it reported a decline in quarterly profits and warned of lower future earnings because of increased competition. McGraw-Hill Cos. Inc. (NYSE:MHP - news), publisher of Business Week magazine, fell $4.40 to $58.15, after warning of a sharply lower-than-expected quarterly profit. TD Waterhouse Group Inc. (NYSE:TWE - news), the No. 2 U.S. discount broker, lost 62 cents to $13.78 after it said its quarterly profits fell 35 percent. Technology stocks rebounded as investors moved back into the sector after the Nasdaq market dropped almost 2.5 percent on Tuesday. The Nasdaq touched its lowest close in five weeks that day, following Greenspan's comments. Two-thirds of top Wall Street bond dealers said after Greenspan's congressional testimony they expected a half-percentage-point drop in interest rates at the March 20 Fed meeting. The remainder saw a quarter-point reduction. ``The market can be perverse and people are actually focused on the fact that Greenspan wasn't negative enough -- meaning very dramatic rate cuts are not imminent,'' said Rick Meckler, senior managing director at Liberty View, which oversees about $1 billion. ``In the long run, the optimism he expressed is more bullish than bearish. It will just take time for investors to get over the short-term disappointments.'' Declines in a number of Dow stocks accounted for much of the index's slump: diversified manufacturer Minnesota Mining & Manufacturing (NYSE:MMM - news) fell $3.17 to $110.97 and paper maker International Paper Co. (NYSE:IP - news) lost $1.01 to $36.10. Drug giants Merck & Co. (NYSE:MRK - news) and Johnson & Johnson (NYSE:JNJ - news) also fell. But the Dow got a lift from its technology components, including computing giant International Business Machines Corp. (NYSE:IBM - news) , up $1.35 to $115.10. Nasdaq's most active stock was JDS Uniphase Corp. (NasdaqNM:JDSU - news)(Toronto:JDU.TO - news), the world's top supplier of fiber-optic parts, which rebounded from an earlier decline after warning that earnings will miss Wall Street's estimates due to the soft U.S. economy. JDS closed up $2-3/4 to $41-1/4. Optical networking firm Sycamore Networks Inc. (NasdaqNM:SCMR - news) rose $3-3/4 to $26-5/16 after reporting earnings that beat forecasts. Sycamore also warned sequential growth would slow.