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

To: Johnny Canuck who wrote (32545)	5/31/2001 11:44:35 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70464

09:12 ET SG Cowen on Big Cap Drugs : Firm sees six reasons to be positive on large-cap drug issues; 1) solid fundamentals and sales, 2) valuations down and in line with 12-yr avg., 3) economy bottoming though likely weak recovery, 4) more bark than bite in political landscape, 5) stocks have underperformed YTD and 6) group seasonally stronger in 2H due to concentration of analyst/scientific meetings; firm likes STRONG BUY rated Pfizer (PFE), Pharmacia (PHA) and Merck (MRK). 09:03 ET Adv. Fibre Comm (AFCI) 18 .26: USB Piper Jaffray downgrades to BUY from Strong Buy due to valuation and sluggish carrier spending outlook. 08:48 ET Sanmina (SANM) 26.55: Thomas Weisel Partners cuts estimates; believes current quarter is tracking the low end of mgmt's guidance; reduces Q3 estimates to $900 mln and $0.19 EPS from $950 mln and $0.21 EPS. 08:47 ET Alcatel Optronics (ALAO) 18.92: Morgan Stanley downgrades to NEUTRAL from Outperform following firm's profit warning. 08:43 ET Turnstone Sys (TSTN) 6.25: Enters OEM agreement with Alcatel (ALA). Under terms of the agreement, Alcatel has designated Turnstone as its preferred loop management vendor and will market, sell and support Turnstone's products in conjunction with its own suite of broadband access solutions. 08:39 ET Oracle Corp (ORCL) 14.51: USB Piper Jaffray cuts estimates for FY 2001 to $0.42 EPS and FY 2002 $0.45 EPS; the firm maintains its Neutral rating on the shares. 08:34 ET Tellabs (TLAB) 33.93: Expects to record restructuring and other charges in Q2 of $262 mln, compared to previous est. of $150-$225 mln. 08:13 ET Merrill Lowering #s on PLDs : Merrill Lynch trims estimates on Xilinx (XLNX) and Altera (ALTR) after channel checks indicate that push-outs have occurred over the last few weeks for such products as PLDs and SRAMs. Believes these push-outs are coming primarily from N. American comm. OEMs such as Cisco and Lucent... Reduces FY02 and FY03 est. on XLNX to $0.58 from $0.65 and to $0.80 from $0.85. ALTR est. for FY01 lowered to $0.39 from $0.43 and FY02 trimmed to $0.40 from $0.45... Also sees weakness at CY but firm's numbers already low. 08:10 ET Rogers Wireless (RCN) 11.86: Morgan Stanley downgrades to OUTPERFORM from Strong Buy and cuts target to $23 from $40; cites above average churn caused by operational difficulties and customer mix. 08:05 ET CLECs Cut : Merrill Lynch lowers near-term rating on McLeodUSA (MCLD) and XO Communications (XOXO) to NEUTRAL, from Accumulate and Buy, respectively. Following recent meetings with each company's management, believes that there are few near term catalysts and that it will take a few quarters of solid execution on recently reduced business plans before investors will return.