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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (32407)	5/22/2001 11:32:16 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70211

11:14 ET Bear on PMCS, XLNX : Sources at Bear Stearns telling us that the firm is still cautious on PMC Sierra (PMCS 41.40 -2.08) and Xilinx (XLNX 49.00 -0.71) -- seeing more evidence of order cancellations at these firms. 10:33 ET Strong Groups : Fiber Optics: CIEN (+8%), FNSR (+8%), NUFO (+7%), SCMR (+7%), ONIS (+6%), GLW (+4%), Superconductors: SCON (+10%), CDTS (+5.5%), AMSC (+4%)... Recent IPOs: TELM (+12.2%), INET (+7.5%). 10:10 ET Tellium (TELM) 28.48 +2.83 (+11%): Recent IPO continues to make new highs; stock appears to be tracking shares of competitor Ciena (CIEN +7.5%). 09:46 ET McDATA (MCDT) 39.64 +1.38 (+3.6%): Issue mentioned in Merrill Lynch morning note on Enterprise Hardware/Storage; according to firm, IDC and Dataquest have released market analyses that support firm's thesis that 1) the SAN market is bigger than estimates reflect, 2) software will be a key differentiator; 3) Brocade's positioning is strong, but near term demand will help McData as well... Also seeing a technical breakout in MCDT, which has made a new recovery high this morning. 09:27 ET IT Spending : Hearing more positive comments about a pick-up in enterprise IT spending this morning. Hearing from sources at Robertson Stephens that the firm made positive comments about Cisco (CSCO), noting that enterprise spending is ticking higher and that estimates could move up. 09:00 ET Extreme Networks (EXTR) 39.50: Needham downgrades EXTR for the third time in just over a month; this time moving to UNDERPERFORM from Hold; notes that shares are now trading well above the firm's $22 price target. 08:57 ET Gapping Up : OPTV surges 21% in pre-market on news company has now deployed more than 16 mln digital set-top box; integration pact with Philips... PALM (+10%) extends advance sparked by UBS upgrade early yesterday... ELNK (+9%) rallies on firming pricing in ISP space; free ISP Netzero (NZRO +22%) also lifting on the AOL news... CIEN climbs 5% after AT&T begins deployment of CIEN equipment. 08:57 ET Nortel Networks (NT) 15.20: -- Update -- Bernstein remains negative on NT; says that the company is now discounting aggressively to maintain share, which will add to industry woes. 08:30 ET QLogic (QLGC) 61.91: Stock slips 1/2 pt in pre-market in response to comment this morning by USB Piper Jaffray analyst Ashok Kumar, who suggests that the stock price has gotten ahead of the company's fundamentals. 08:08 ET Cisco Systems (CSCO) 22.87: CSFB believes one or more large contract wins (reputed to be in hundreds of millions range) company has previously alluded to could start shipping this qtr; indications from company's optical division that carriers turning spigots back on a little; firm sees solid upside to lowered numbers and possibility that sentiment carries issue slightly above $25 target. 07:58 ET CIENA Corp (CIEN) 60.79: AT&T (T) announces that it has successfully tested, certified and begun deployment of CIENA's MultiWave Metro intelligent optical transport system. 07:47 ET What Would ALA/LU Deal Mean For Others? : ABN AMRO ponders the implications of an Alcatel (ALA) acquisition of Lucent (LU). Firm believes that NT would be most affected and would need to acquire a company like Marconi (MONI) for greater customer reach and share in Europe. Thinks that European suppliers like Siemens (SI) and even MONI may follow Alcatel with their own acquisitions. Firm's buyout list for target US companies would be RBAK, TLAB, AFCI.