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

To: Johnny Canuck who wrote (32482)	5/25/2001 10:11:04 AM
From: Johnny Canuck	Read Replies (3) \| Respond to of 70264

09:29 ET ADTRAN (ADTN) 29.16: Morgan Stanley downgrades to NEUTRAL from Outperform due to earnings uncertainty; believes that cautious enterprise spending and lower carrier capex could pressure C01/02 sales and earnings; thesis supported by field checks. 10:03 ET Economic Data : April Durable Orders was reported down 5%, well below the consensus while Existing Home Sales for April was reported at 5.2 mln which was in line with expectations. Indices have weakened slightly following the release of the data. 09:51 ET Economic Data : Michigan Sentiment for May was reported at 92; down slightly from the early May reading of 92.6. This will have no market impact. 09:03 ET TiVo (TIVO) 8.50: After a 72% gain yesterday on news of a patent win, TIVO continues to run this morning; trading at 10.75 in the pre-market. Thomas Weisel upgraded the stock to BUY from Market Perform this morning based on the patent win. 08:54 ET Pru On Integrated Oils : Prudential upgrades Chevron (CHV) and Texaco (TX) to STRONG BUY from Hold based on valuation; downgrades Phillips (P) to HOLD on valuation. Analyst bullish on group, says the average stock is 5% below target price and has 20% upside potential. 08:34 ET XO Comms (XOXO) 3.78: Morgan Stanley downgrades XOXO to NEUTRAL from Strong Buy; says new business plan is feasible but requires a leap of faith that investors are unlikely to make in the near-term. 08:25 ET LM Ericsson (ERICY) 6.96: Hearing that Bloomberg is reporting that ERICY is interested in buying Lucent's (LU) wireless infrastructure division; unclear if any deal would be part of an Alcatel/Lucent merger or an alternative transaction for Lucent. 08:19 ET Lucent Tech (LU) 9.53: NY Times reporting that talks between Lucent and Alcatel (ALA) are in their final stages with the companies aiming to reach an agreement by next week, but the article still says the deal could be abandoned. The article says that Alcatel will not pay much more than current market value in what it terms a "no-premium" deal. 08:12 ET Pru Upgrades Semi Equip : Prudential upgraded the semi equipment group to STRONG BUY from Accumulate, citing some signs of selective end market stabilization which could serve as a precursor to a directional change revenues in August/September. Upgraded the following to STRONG BUY from Accumulate: AMAT (price target 67 from 60), KLAC (69 from 58), and TER (53 from 40). Other ratings left unchanged: NVLS at STRONG BUY (68 from 64), LRCX at ACCUMULATE (36 from 28), KLIC at HOLD (20 from 15). 08:10 ET Ditech Corp (DITC) 16.53: -- Update -- Robertson Stephens downgrades to MKT PERFORM from Buy after management lowers guidance; notes that Qwest appears to have dramatically slowed its deployment of Ditech echo platforms; firm slashes 2002 est. from $0.52 to a loss of $0.62; revenue forecast cut to $65 mln from $132 mln. 06:39 ET Rambus (RMBS) 12.33: EBN Online reporting that Rambus has lost another patent infringement case; this time to Micron (MU) in Italy. EBN says the details are sketchy, but that it appears the Italian judge dismissed the case for reasons similar to those cited in the Rambus/Infineon (IFX) case, in which the judge ruled that Infineon's SDRAM does not use the same multiplexed bus described in Rambus patents.