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

To: Johnny Canuck who wrote (32611)	6/5/2001 11:44:06 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70763

09:36 ET Cisco Systems (CSCO) 20.37 +0.64: Hearing that Salomon Smith Barney just made positive comments on CSCO after talking to Kevin Kennedy, head of the Service Provider Line; Salomon said that earlier pricing pressures are not as evident, sees demand shifting from long haul to metro, and notes a better outlook for the incumbent data segment of the mkt. 09:29 ET Qwest Comms (Q) 36.15: In an 8K filing, Qwest once again reduces capex guidance to $8.8-9.0 bln from $9.2 bln (which was reduced from $9.5 bln on April 24). Perhaps even more notable is the 2002 capex number of $8.0 bln, which supports the view that telecom spending will not rebound for quite some time. Qwest cites improved buying power as a key reason for the reduced capex guidance. This is another negative indication for telecom equipment cos. 09:29 ET Lucent Tech (LU) 8.00: Company reaffirms guidance for Q3; continues to expect greater sequential improvement over the $0.37 loss posted in Q2 and modest sequential growth in revenue (mean loss est. for Q3 is $0.21). LU also to accelerate cost reduction efforts. 09:24 ET RF Micro Device (RFMD) 24.78: Merrill Lynch out with positive comments this morning; notes RFMD was down 10% yesterday on AXTI's pre-announcement; Merrill's channel checks indicate RFMD is on track to meet or exceed our June and September quarter ests; believes RFMD has "an excellent chance to post upside to its earnings and revenue ests going forward"; reiterates intermediate-term Accumulate and long-term Buy ratings and price target of 31.