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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: daryll40 who wrote (42290)	2/16/2001 1:11:52 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Macronix Expects EPS to Hit NT$5 in 2001 February 16, 2001 (TAIPEI) -- Macronix International Co., Ltd., Taiwan's largest manufacturer of flash memory chips, is forecast to report earnings per share of NT$5 this year, a rise from last year's estimated NT$3.5 to NT$4 (US$0.109 to US$0.125). Macronix will hold a board meeting on Feb. 22. In the meeting, the board will discuss the dates for this year's general shareholder meeting and the dividend it must pay shareholders this year. Local industry specialists estimate the company earned NT$3.5 to NT$4 per share last year. (US$0.156 at US$1 = NT$32) Company President Minn Wu said the company earned more last year than in the previous year, and that this year's dividend will therefore be higher. In 1999, the company paid a dividend of NT$1.3 (US$0.0406) a share. In 2000, the company's revenue reached a record high of NT$32.265 billion (US$1.008 billion), up a sharp 94 percent year-on-year. Its after-tax earnings are estimated to post at NT$10.4 billion (US$325 million), translating into EPS of NT$4.29 (US$0.134), higher than the company's last revised forecast. Macronix plans to issue 250 million units of American Depository Receipts (ADRs) in the first half of this year to raise part of the capital it needs for expansion this year. The company expects to spend a total capital of NT$30 billion (US$937.5 million) on this year's expansion plans. The company forecasts monthly revenue to post at NT$2.49 billion (US$77.81 million) in the traditionally-slack first quarter, nearly 30 percent down from December of last year. Wu estimates that revenue and earnings will begin to return to their normal level in the second quarter. Wu visited Israel in late January to take part in the ground breaking ceremony of the fab venture between his company and Tower Semiconductor. The fab has been built to produce flash memory chips, and during his visit the president signed an agreement with an Israeli IC design house to develop the advanced Jaffa processing technology. The technology can boost the competitiveness of flash-memory production by shrinking the chip by about a quarter. The fab will start pilot production in the second half of this year, and its major products will be flash memory chips for third-generation cellular phones. (Commercial Times, Taiwan) Subject 50522

To: daryll40 who wrote (42290)	2/16/2001 2:14:18 PM
From: mitch-c	Read Replies (2) \| Respond to of 70976

Precisely my logic in grabbing some puts . Feb 47.5's bought yesterday @ .25, sold just now @ 1.00 to 1.25. With commissions, about a 3.5x move, 250% ROI. (It doesn't always work that nicely.) However, I limited my exposure by only throwing a few hundred bucks at the problem. Small pain, small gain. <g> IMO, the differences between shorting and buying puts are these: 1) The options are usually cheaper; you can leverage more of them for the same cash (of course, with more associated risk). 2)Unlimited loss potential for a short (you can lose more than you have); Losses on a put can go to 100%, but limited by what you paid for it. 3) A short position has an unlimited time horizon; with a put, you're guessing at both a move and a timeframe, thus assuming more risk. 4) Options spreads are wider than on the underlying stock; however, price volatility over time usually makes the spread irrelevant for either. - Mitch