Anatomy of the UP-grade (WIT SOUNDVIEW)
JDSU and a significant portion of the Optical Networking Sector was bounced on Friday, but why? Why when not a single of the companies have stated that a turn around is near, and even the most optimistic Analyst believe the recovery is going to happen in 2002.
Well the answer is one loan Analyst, the analyst on JDSU that was one week late for his opinion. That’s right after JDSU had a horrific and terrible warning a week earlier had major analysts put out the obligatory statements on the company. They apparently actually listened to the CC call. On June 15th 2001
US Bancorp Piper, CSFB, SG Cowen, ABN AMRO Merrill Lynch, First Union Securities, Lehman Brothers,Wachovia Sec ALL stated holds or downgrades to hold.
Also on June 15th, 2001 WR Hambrecht, Robertson Stephens, Banc of America Securities and JP Morgan H&Q all put out REITERATES of BUYS.
Not to be outdone Wit Soundview that still as the JDSU lost over 75% of it Total price, well Wit thought about it, for a full Week, then they decided it was time to put the Public in this stock again. Hey Lucent is a buy at 18 bucks too, gotta be!
See how Wit Soundview (read as WIT Capital, the firm created almost exclusively to sell IPO share in 1999-2000) to the Public on 1/22/01 from SuperDuper Buy, to just BUY. Notice the stock closed that day at 59.75, the next day it put in the HIGH for the year 64.95, after that all the people Bought JDSU lost it.
So as not to confuse the PUBLIC, WIT Soundview came out with a REITERATION OF BUY IT, just 4 days later on 1/26/01.
Well they called the bottom, right the upgrade means we have bottomed? Well only through bad reporting. Wit Soundview has not called the bottom, they only expect that by September, that the downcycle should be over. Implying that—well I take that back, implying nothing like a bounce or a strong recovery or anything like that. Just that it won’t get any worse after September quarter.
See what he said--- "Customer activity levels are unsustainably low and in our judgment the company's September-quarter guidance will prove the low," wrote analyst Kevin Slocum.
Just what are you saying Kevin, can you add some fluff and mumbo in for me??? Please?
"We expect carriers to improve their spending patterns moving through next year. That should drive improving results from the levels that will be reported for the June quarter and predicted for September," he wrote. The economic concerns that exacerbated the slowdown in spending "precipitated an unsustainably low level of equipment investment."
Thank you
Were there any bright spots in these Analysts?---YES Looking at just JDSU I would have to say that Ryan, Beck Co and Lehman Brothers. Did the best jobs for the public that the could have reasonable done, called it quickly, and called it correctly.
Way back in January when the world was upgrading, Lehman rating came out as overall HOLD and for the optical sector they were right—JDSU performed right with the sector.
Princeton, New Jersey, Jan. 29 (Bloomberg Data) -- JDS Uniphase Corp. (JDSU US) was reiterated ''market perform'' by analysts Steven D. Levy and Arnab K Chanda at Lehman Brothers.
The first Analysts to SEE IT and CALL IT was Ryan, Beck & Co. They also gave the most clear cut signal. Strong BUY to HOLD. Some could fault the Strong Buy rating that they cut, but if you real the times and the sector, that was reasonable enough and correct enough for overall sentiment and general projections.
Princeton, New Jersey, Jan. 26 (Bloomberg Data) -- JDS Uniphase Corp. (JDSU US) was downgraded to ''hold'' from ''strong buy'' by analyst Jordan Estra at Ryan, Beck & Co.
The market is about expectations, and I fully expect that WIT Soundview will continue to maintain BUY no matter what type of warnings and write off happen. I don’t know why this is, but its my expectation.
But hey we just report the news our viewers should know, and because of that we report Analysts, because we think our views should have that information, its valueable to them.
So was it any "news" or any wonder that WIT Soundview continued it's BUY rating. Not unless you are a lame-O.
Wolff
See the parade of buy buy buy buy buy uhhhhh wait HOLD HOLDs below, for the Analyst still pushing the stock lets hope.
06/22/01 Buy Wit SoundView JDS Uniphase upgraded from Buy to Strong Buy at Wit SoundView 06/15/01 Buy WR Hambrecht JDS UNIPHASE CORP Reiterated Strong Buy at WR Hambrecht & Co. 06/15/01 Buy Robertson Stephens JDS UNIPHASE CORP Reiterated Buy at Robertson Stephens 06/15/01 Buy Banc of America Securities JDS UNIPHASE CORP Reiterated Buy at Banc of America Securities 06/15/01 Buy JP Morgan H&Q JDS UNIPHASE CORP Reiterated Buy at JP Morgan H&Q 06/15/01 Hold US Bancorp Piper JDS UNIPHASE CORP Reiterated Neutral at US Bancorp Piper Jaffray 06/15/01 Hold CSFB JDS Uniphase downgraded from Buy to Hold at CSFB 06/15/01 Hold SG Cowen JDS Uniphase downgraded from Buy to Neutral at SG Cowen 06/15/01 Hold ABN AMRO JDS Uniphase downgraded from Add to Hold at ABN AMRO 06/15/01 Hold Merrill Lynch JDS UNIPHASE CORP Maintained Intermediate term Neutral at Merrill Lynch 06/15/01 Hold First Union Securities JDS UNIPHASE CORP Reiterated Market Perform at First Union Securities 06/15/01 Hold Lehman Brothers JDS UNIPHASE CORP Reiterated Market Perform at Lehman Brothers 06/15/01 Hold Wachovia Sec JDS Uniphase downgraded from Buy to Neutral at Wachovia Sec 06/12/01 Hold Credit Lyonnais Sec JDS Uniphase initiated at Credit Lyonnais Sec with a Hold 05/31/01 Buy WR Hambrecht JDS Uniphase Reiterated 'Strong Buy' at WR Hambrecht 05/31/01 Hold CIBC Wrld Mkts JDS Uniphase downgraded from Strong Buy to Hold at CIBC Wrld Mkts 05/30/01 Hold Morgan Stanley DW JDS Uniphase downgraded from Outperform to Neutral at Morgan Stanley 05/01/01 Buy WR Hambrecht JDS Uniphase Reiterated 'Strong Buy' at WR Hambrecht 04/27/01 Buy Corinthian Partners JDS Uniphase Reiterated 'Buy' at Corinthian Partners 04/25/01 Buy Yorkton Securities JDS Uniphase Cut to 'Accumulate' at Yorkton Securities 04/26/01 Buy Dain Rauscher Wessels JDS Uniphase Cut to 'Outperform' at Dain Rauscher Wessels 04/27/01 Hold Sprott Securities JDS Uniphase Cut to 'Market Perform' at Sprott Securities 04/28/01 Hold GMP JDS Uniphase Cut to 'Neutral' at GMP 04/24/01 Buy WR Hambrecht JDS Uniphase Reiterated 'Strong Buy' at WR Hambrecht 04/24/01 Hold Raymond James JDS Uniphase downgraded from Strong Buy to Mkt Perform at Raymond James 04/24/01 Hold McDonald Investments JDS Uniphase Rated New 'Hold' at McDonald Investments 04/20/01 Buy WR Hambrecht JDS Uniphase Raised to 'Strong Buy' at WR Hambrecht 04/20/01 Buy Robertson Stephens JDS Uniphase upgraded from LT Attractive to Buy at Robertson Stephens 04/20/01 Buy Salomon Smith Barney JDS Uniphase Raised to 'Buy' at Salomon Smith Barney 04/20/01 Buy Salomon Smth Brny JDS Uniphase upgraded from Outperform to Buy at Salomon Smth Brny 04/20/01 Buy W.R. Hambrecht JDS Uniphase upgraded from Buy to Strong Buy at W.R. Hambrecht 04/17/01 Buy Corinthian Partners JDS Uniphase Rated New 'Buy' at Corinthian Partners 03/30/01 Hold Jefferies & Co JDS Uniphase initiated at Jefferies & Co with a Hold 03/28/01 Hold Merrill Lynch JDS Uniphase downgraded from NT Accum to NT Neutral at Merrill Lynch 03/22/01 Buy Robertson Stephens JDS Uniphase downgraded from Buy to LT Attractive at Robertson Stephens 03/07/01 Buy ABN AMRO JDS Uniphase downgraded from Buy to Add at ABN AMRO 03/07/01 Buy Thomas Weisel JDS Uniphase downgraded from Strong Buy to Buy at Thomas Weisel 02/28/01 Buy Sprott Securities JDS Uniphase Cut to 'Buy' at Sprott Securities 02/27/01 Buy Yorkton Securities JDS Uniphase Reiterated 'Buy' at Yorkton Securities 02/20/01 Buy Yorkton Securities JDS Uniphase Rated New 'Buy' at Yorkton Securities 02/20/01 Hold US Bancorp Piper JDS Uniphase downgraded from Strong Buy to Neutral at USB Piper Jaffray 02/16/01 Hold First Union Securities JDS Uniphase downgraded from Strong Buy to Mkt Perform at First Union Sec 02/14/01 Buy WR Hambrecht JDS Uniphase Reiterated 'Buy' at WR Hambrecht 02/14/01 Buy US Bancorp Piper JDS Uniphase Reiterated 'Strong Buy' at US Bancorp Piper 02/14/01 Buy SG Cowen JDS Uniphase downgraded from Strong Buy to Buy at SG Cowen 02/14/01 Hold Adams Harkness JDS Uniphase downgraded from Buy to Mkt Perform at Adams Harkness 02/08/01 Buy Sprott Securities JDS Uniphase Maintained 'Strong Buy' at Sprott Securities 02/07/01 Buy WR Hambrecht JDS Uniphase Reiterated 'Buy' at WR Hambrecht 02/07/01 Buy US Bancorp Piper JDS Uniphase Reiterated 'Strong Buy' at US Bancorp Piper 02/07/01 Hold BMO Nesbitt Burns JDS Uniphase Cut to 'Market Perform' at BMO Nesbitt Burns 02/06/01 Buy CSFB JDS Uniphase Reiterated 'Buy' at CSFB 02/05/01 Buy Deutsche Banc AB JDS Uniphase Reiterated 'Buy' at Deutsche Banc AB 01/29/01 Hold Lehman Brothers JDS Uniphase Reiterated 'Market Perform' at Lehman 01/26/01 Buy US Bancorp Piper JDS Uniphase Reiterated 'Strong Buy' at US Bancorp Piper 01/26/01 Buy CSFB JDS Uniphase Reiterated 'Buy' at CSFB 01/26/01 Buy Wit SoundView JDS Uniphase Reiterated 'Buy' at Wit SoundView 01/26/01 Buy Adams Harkness JDS Uniphase downgraded from Strong Buy to Buy at Adams Harkness 01/26/01 Buy CE Unterberg Towbin JDS Uniphase downgraded from Strong Buy to Buy at CE Unterberg Towbin 01/26/01 Buy Sands Brothers JDS Uniphase Reiterated 'Buy' at Sands Brothers 01/26/01 Buy J.P. Morgan JDS Uniphase Reiterated 'Buy' at J.P. Morgan 01/26/01 Hold Ryan, Beck JDS Uniphase Cut to 'Hold' at Ryan, Beck 01/25/01 Buy Salomon Smith Barney JDS Uniphase Cut to 'Outperform' at Salomon Smith Barney 01/25/01 Buy Salomon Smth Brny JDS Uniphase downgraded from Buy to Outperform at Salomon Smth Brny 01/25/01 Buy Noble Financial JDS Uniphase Reiterated 'Buy' at Noble Financial 01/22/01 Buy Wit SoundView JDS Uniphase downgraded from Strong Buy to Buy at Wit SoundView 01/11/01 Buy Global Capital Markets JDS Uniphase Rated New 'Buy' at Global Capital Markets 12/27/00 Buy Ryan, Beck JDS Uniphase Reiterated 'Strong Buy' at Ryan, Beck 12/26/00 Buy Deutsche Banc AB JDS Uniphase Cut to 'Buy' at Deutsche Banc AB 12/22/00 Buy Wachovia Sec JDS Uniphase downgraded from Strong Buy to Buy at Wachovia Sec 12/22/00 Buy Wachovia Secs JDS Uniphase Cut to 'Buy' at Wachovia Secs 12/18/00 Buy CSFB JDS Uniphase Reiterated 'Buy' at CSFB 12/12/00 Buy Ryan, Beck JDS Uniphase Reiterated 'Strong Buy' at Ryan, Beck 11/30/00 Buy Williams Capital JDS Uniphase Rated New 'Buy' at Williams Capital 11/14/00 Buy RBC Dominion JDS Uniphase Rated New 'Outperform' at RBC Dominion 10/27/00 Buy ABN AMRO JDS Uniphase Reiterated 'Buy' at ABN Amro 10/27/00 Buy Merrill Lynch JDS Uniphase Reiterated Near-Term 'Accumulate' at Merrill 10/27/00 Buy Sands Brothers JDS Uniphase Raised to 'Buy' at Sands Brothers 10/27/00 Buy National Bank JDS Uniphase Maintained 'Buy' at National Bank 10/17/00 Buy PaineWebber JDS Uniphase Reiterated 'Buy' at PaineWebber 10/11/00 Buy SG Cowen JDS Uniphase Rated New 'Strong Buy' at SG Cowen
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