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To: velociraptor_ who wrote (10950)	3/7/2001 5:26:33 PM
From: jeffersonkeith	Respond to of 37746

YHOO news... NEW YORK (CBS.MW) - Yahoo ended the suspense in Wednesday's after-hours session and issued a release saying the company would miss first-quarter financial targets, seek a new CEO and implement a stock repurchase program. Shares will resume trading at 5:21 p.m. Eastern time. Before Yahoo's news investors were immediately greeted by more profit warnings from the tech sector. FRONT PAGE NEWS Palm to buy Extended Systems Following the closing bell, Copper Mountain Networks said it was cutting its staff by 25 percent and taking a charge to earnings. Tellabs lowered its first-quarter revenue and earnings forecasts and said its CableSpan business would post a revenue shortfall. Investors sent shares of Tibco Software back 10 percent on Island after the company said the U.S. economic downturn had hit its first-quarter sales. Alliance Fiber Optic Products also saw its shares slide after the company lowered revenue expectations. In broader trading, the Dow Jones Industrial Average posted gains for a fourth consecutive session as its financial, retail and industrial components checked in with respectable gains. The Nasdaq Composite Index was also higher, rising for a third straight session. Read Market Snapshot. Yahoo Yahoo (YHOO: news, msgs, alerts) said it would miss its financial targets for the first quarter and said it is looking for a new chief executive. Tim Koogle will remain as chairman, but will step down as CEO when a successor is named. First quarter net income will approximately break even on revenue of $170 million to $180 million. Yahoo is expected to earn 5 cents a share, down from 10 cents a year ago and 13 cents in the fourth quarter, according to First Call/Thomson Financial. Revenue is expected at $232.6 million. Revenue and profit will fall most significantly in the marketing services area. The Internet giant also approved a $500 million stock repurchase plan for the next two years. Yahoo currently has 565 million shares outstanding. Shares closed on a halt Wednesday down $1.38 at $21 In the regular session, speculation swirled about possible reasons for the halt: an earnings warnings, management changes or news of an acquisition or sale. Read more about Yahoo's halt. Copper Mountain Network Copper Mountain (CMTN: news, msgs, alerts) said it will lay off 25 percent of its staff of 450 employees, targets sales, customer support, operations and general administrative positions. The cost-cutting efforts will results in a charge of $5 million to $7 million in the first quarter of 2001, the company said. The company also said its chief financial officer, John Creelman has decided to step down to "pursue other opportunities." The digital subscriber line (DSL)- based communications products provider is also losing its chairman Joseph Markee for the same reason. Shares slid 16 percent in Island trading to $3.75 after finishing the regular session down 2.1 percent to $4.47. Tellabs Tellabs (TLAB: news, msgs, alerts) dropped its first quarter expectations due to below-trend growth in Tellabs' CableSpan business. Also, the company said it won't be able to recognize certain revenue from its new Titan 6500 system until the second quarter. First-quarter earnings are now expected to be 35 cents to 38 cents vs. an expected level of 39 cents a share. Revenue is expected at $830 million to $865 million compared with expectations of $865 million to $890 million. The company said growth in its core optical networking business remains strong. Tellabs shares closed up $1.69, or 3.8 percent, at $45.69, but fell 81 cents, or 1.8 percent, to $44.88 on Island. Tibco Software Shares of Tibco Software (TIBX: news, msgs, alerts) fumbled after the company lowered revenue forecasts amid the U.S. economic slowdown. Shares finished the regular session up 2.4 percent to $10.88 but promptly slid to $9.81 on Island in heavy trading. The company said it now sees first quarter revenue at $80 million to $84 million. The First Call/Thomson Financial consensus estimate is for the company to earn $98 million in the quarter. Alliance Fiber Optic Products Alliance Fiber Optic (AFOP: news, msgs, alerts) said it was lowering revenue and net income expectations as it continues to see a slowdown in shipments and order rates. The company said it now expects first quarter revenue of $7 million to $7.5 million, with net income of breakeven or 1 cent per share. For the full year, the company now sees revenue of $40 million with net income at 3 cent to 5 cents per share. The consensus estimate among analysts surveyed by First Call is for Alliance to earn 1 cent in its first quarter and 7 cents for the year. Shares slid in Island trading to $8 after closing down 1.4 percent to $8.75. Nicole Maestri is a reporter for CBS.MarketWatch.com More After Hours •Yahoo to miss targets, seeks new CEO 5:19pm ET 03/07/01 •Tech rally ends abruptly after hours 6:56pm ET 03/06/01 •Warnings continue after the closing bell 6:37pm ET 03/05/01 •Investors not warming to software sector 5:30pm ET 03/02/01 •Oracle devastates tech sector 7:13pm ET 03/01/01 Latest Industry News •Yahoo to miss targets, seeks new CEO 5:19pm ET 03/07/01 •WorldCom stock jumps on buyout talk 5:05pm ET 03/07/01 •Copper Mountain cuts job, VIPs resign 4:53pm ET 03/07/01 •Tech stocks climb on value buying 4:33pm ET 03/07/01 •Tech stocks lead Canada higher 4:21pm ET 03/07/01 Trading Center MarketPlace (Partner Shortcuts) Free Insurance Quotes! 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To: velociraptor_ who wrote (10950)	3/7/2001 5:33:18 PM
From: Rambi	Read Replies (1) \| Respond to of 37746

When dealing with these kinds of volatile and short term puts, do you move very quickly to take profits, in and out, (as you did today), and do you have a certain target or just go by "instinct". Are you still hopeful that those 3.4s will come back- or do you just sell them when you break even on your average? (Excuse me if these questions are out of line; I try to stay quiet and learn, but losing the computer today really messed up my brilliant plan to sell fast and I'm not sure what to do now!) TIA, penni