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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (37182)	5/23/2001 8:41:42 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

Looks like DELL is the hot stock today!!!! Dell soars, Ciena drops in pre-open By Emily Church, CBS.MarketWatch.com Last Update: 8:14 AM ET May 23, 2001 LONDON (CBS.MW) - Shares of Dell Computer were gaining in pre-open trading Wednesday on analysts' support, but the stock was one of the few on the plus side as Ciena, Intel Corp. and Juniper saw early selling pressure emerge. Dell (DELL: news, msgs, alerts) shares were trading up 4 percent from their New York in a range of $27.05-27.15 on the Instinet ECN, building on higher levels in London trade earlier in the day. The shares were easily the volume leader in the pre-open session. Goldman Sachs late Tuesday added the stock to their list of recommended stocks for clients. Analyst Joe Moore started coverage, saying he sees Dell's market share gains "reaccelerating given recent component price declines." He set a 12-month $32 price target on the stock. Merrill Lynch on Tuesday added the stock to its list of top stocks on expectation that the PC maker will emerge the winner from the downturn in the industry and is adding more profitable "upstream" products for businesses to its line. Ciena (CIEN: news, msgs, alerts) shares were sliding $3.05, or 5 percent, to $61.25 and is close to wiping out its 5.8 percent gain on Tuesday after the company disclosed that AT&T has "deployed" the company's new optical networking gear for local metropolitan traffic. Shares of Alcatel ADRs (ALA: news, msgs, alerts) are down 8.6 percent on the RediBook ECN in small volumes to $28.90, following the sell-off in the shares in France on a report that Alcatel remains in talks with Lucent Technologies (LU: news, msgs, alerts) to buy all of Lucent in an about $34 billion deal. See full story on FT MarketWatch. Intel (INTC: news, msgs, alerts) lost earlier London gains, and was trading down 7 cents to $29.46. European semiconductor stocks were lower amid a downgrade in the sector. Moreover, a poor outlook embedded in an April sales report for the semiconductor equipment sector may have weighed on sentiment. Shares of Juniper Networks (JNPR: news, msgs, alerts) were down 34 cents to $56.50. Cisco Systems (CSCO: news, msgs, alerts) were down 3 cents in London, according to market makers at Madoff Securities, to $23.45, in line with some selling pressure in the after-hours session Tuesday. Book-to-bill grim North American semiconductor equipment makers posted $711.8 million in orders in April 2001 and a book-to-bill ratio of 0.42, the lowest level of new orders for products shipping in10 years, according to industry group Semiconductor Equipment and Materials International. The drop was lower than anticipated. "We believe that this will likely represent a low watermark in book-to-bill, creating a lower level for comparison and paving the way for stabilization looking forward," said analyst Eric Chen from JP Morgan H&Q in a note to clients Wednesday. Still, "a material, capacity-driven uptick for equipment suppliers will be unlikely before mid 2002," he added. Emily Church is London bureau chief of CBS.MarketWatch.com.