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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (7926)	4/19/2001 9:05:15 AM
From: im a survivor	Read Replies (1) \| Respond to of 10934

All DD I come up with on STOR looks very encouraging. If it's true, that we need to find the next wave of profitable companies, whose share price has potential for nice appreciation, then this company should be looked at. Anyway, do your own DD.......Looks like a nice oprn for naz....I wonder if it holds or if we are green after lunch do the sellers and shorts jump in. IF we can stay green today and tomorrow, I think it bodes well for the long term...shorts will think hard this weekend if this rally continues, while all that sideline money will start itching and looking for any dips to get back in....IMO...... Anyway, here is latest on STOR....check em out, they are doing quite well in a very tough economic environment. StorageNetworks bucks down market By Stephen Shankland Staff Writer, CNET News.com April 18, 2001, 8:30 p.m. PT StorageNetworks, a company that handles data storage chores for its clients, beat analyst expectations Wednesday and named a new chief operating officer. The Waltham, Mass., company reported a net loss of 34 cents per share, compared with Wall Street analyst expectations of 37 cents per share, according to First Call. The company had a net loss of $33 million on revenue of $27.1 million--28 percent more than the $21 million revenue of the previous quarter and 489 percent more than the $4.6 million of the year-ago quarter. New COO Ken Fehrnstrom was the former chief executive of Ensim, which hosts Web sites for its clients and competes with larger companies such as Exodus. Previously he worked at networking and telecommunications companies Cisco and Lucent. Analysts were delighted with the company's performance, pointing to new customers in large companies that aren't victims of the dot-com collapse. StorageNetworks "posted a very impressive" first quarter of its fiscal year 2001, which ended March 31, said Lehman Brothers analyst Harry Blount. He lauded the company's expense controls as well as its shift from one-time professional services to revenues that will recur quarter after quarter. Goldman Sachs analyst Matthew Janiga was more moderate in his remarks, but predicted a narrower loss for the fiscal year overall and said the company has enough cash to break even financially in 2003. The company said the average customer pays $500,000 per quarter, an increase over the $450,000 the last quarter. Among the company's new customers in the quarter were Microsoft, Sun Microsystems, lumber firm Weyerhauser, Washington Mutual Bank, Adidas and Bank One. Repeat customers include Covisint, MetLife and Lycos. The storage industry lasted longer than PCs and servers before getting hit by the spending slowdown that's afflicted technology companies. But even storage stalwarts such as EMC and Network Appliance have been forced to lower revenue estimates. StorageNetworks is the best established of a host of "storage service providers" and the only publicly traded company of the bunch. However, its stock has come down considerably since its soaring initial public offering in June. Shares sold for $27 during the IPO and closed at $90.25 on the first day of trading, but have sunk to less than half of the IPO price in less than a year. On Wednesday, StorageNetworks' stock closed up $1.95 or 19 percent, at $12.05. Many technology stocks were buoyed by a surprise interest rate cut.

To: Uncle Frank who wrote (7926)	4/19/2001 2:30:24 PM
From: SecularBull	Read Replies (1) \| Respond to of 10934

Frank, I have a question. If I own the NTAP Jan '03 $20s, is there any advantage to swapping all or a portion of my calls into '03 $10s if that means that I must reduce my overall leverage (i.e. I'm not going to kick in any extra cash to end up with the same amount of leverage)? Thanks for your input. ~SB~