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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Susan G who wrote (5077)	5/17/2001 10:29:58 AM
From: SusieQ1065	Read Replies (2) \| Respond to of 5732

Oh....Mr. FCEL is so very lovely.... ;-)

To: Susan G who wrote (5077)	5/17/2001 5:10:29 PM
From: Connor26	Read Replies (3) \| Respond to of 5732

Susan - MACR Macromedia (MACR) 20.52 -0.48: Looking for a turnaround candidate? If yes, then Briefing.com suggests taking a look at Macromedia... Leading Web design and software maker has seen its stock collapse over the past, falling from a high of 120.875 last July to a low of 13.375 in early April.... The stock rallied sharply off its low only to get whacked again when it reported disappointing fiscal Q4 earnings (33% below expectations) earlier this month... Almost as troubling to the street as the five cent miss was the company's refusal to give forward guidance... Several analysts immediately took this as a very negative sign and quickly downgraded their ratings and cut their earnings estimates... Though the lack of guidance is a bit worrisome, Briefing.com contends that the street overreacted... With the Fed aggressively cutting interest rates, traders are becoming increasingly optimistic that the economy will rebound beginning late this year... More and more tech companies are also suggesting that earnings will trough in Q2 or Q3 of this year... As the economy and earnings pictures improve, so will the forward outlook for Macromedia... In other words, MACR may suffer through another difficult quarter or two, but by then the outlook for the company should improve significantly... Softer comparisons in the out quarters won't hurt any either... Neither will fact that 11 of the 15 analysts surveyed by First Call currently rate the stock a HOLD -- leaves plenty of room for upgrades once business conditions begin to improve... Playing the turnaround game takes patience, as these stocks are depressed for a reason... Fortunately, Briefing.com sees nothing fundamentally wrong with MACR that a healthier economy won't fix... So if you are willing to assume a high degree of risk for a potentially high rate of return, then MACR might be worthy of consideration... The stock trades at 23.9x and 16.2x consensus FY02 and FY03 earnings of $0.86 and $1.27, with a p/s ratio (based on trailing 12-month sales) of 3.0... Technically, stock recently moved back above its 50-day moving average... Initial resistance is in the 25-27 range.-- Robert Walberg, Briefing.com

To: Susan G who wrote (5077)	5/17/2001 5:57:56 PM
From: SusieQ1065	Respond to of 5732

Briefing "The underlying bias should remain positive until early June" Updated: 18-May-01 General Commentary So much of the daily focus is on the end result - did the Nasdaq/DJIA end the day up or down - that investors often loose sight of the market internals... And it is these internals - new highs/new lows, advancers/decliners, up volume/down volume, etc, which show the real health of the market. It was the strength in these numbers last week, despite a lackluster performance in the averages themselves, that reinforced Briefing.com's belief that the indices would resolve the brief period of consolidation by staging another powerful advance... So far, so good, as the indices have broken out impressively over the past couple of sessions... And they did so amid strong market internals. In other words, the market continues to get healthier day by day... With rates coming down and earnings expected to bottom over the next few months, investors have every reason to believe that there are more gains to come... That's appears to be the thinking of many money managers, as flow and volume indicators suggest that they've used some of that sidelined cash to actively buy back into stocks. As we noted the other day, the underlying bias should remain positive into early June... At that point - earnings warning season - the risk of a correction increases, especially if the warnings/guidance discredit the market's assumption that earnings will trough in Q2/Q3. After the close, Dell (DELL) reported Q1 EPS of $0.17 on revenues of $8.03 bln, in line with consensus estimates... For all the post-close earnings numbers/guidance, see Briefing.com's Short Stories page. Robert Walberg