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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: U.B. Green who wrote (19806)	7/5/2001 5:43:26 PM
From: James Calladine	Respond to of 30051

AFTER HOURS <<<Advanced Micro (AMD) 28.64 -0.83: -- Update -- Trading resumes... AMD -3.64 versus the 4 pm close. EMC Reaction : Prices vs. close... EMC -2.03 after warning for Q2. This is the first warning from the storage group which has sector peers QLGC -1.7, EMLX -1.8, BRCD -1.9 trading lower. EMC Corp (EMC) 30.03 -1.59: Company warns for Q2; expects total revs to be approx $2 bln vs. consensus of $2.46 bln; sees earnings per share of $0.04-$0.06 vs. consensus of $0.18 EPS; says "Business is being impacted to a degree with each unanticipated downward step in the global economy. It now appears that there are fewer dollars being invested in information technology than a year ago." see press release. After Hours Indications : Futures trading carries a negative bias on the heels of AMD's negative earnings pre-announcement. S&P futures at 1222, trade four points below fair value while Nasdaq 100 futures at 1754, trade eleven points below fair value. AMD Reaction : Prices vs. 4 pm ET close... Chip and chip equipment issues responding modestly to AMD's warning. INTC -0.68, NVLS -0.10; AMAT -0.28. AMD itself has yet to trade in the late session. Advanced Micro (AMD) 28.64 -0.83: -- Update -- Says Q2 revs were $985 mln vs. consensus est of $1,080 mln; earnings for Q2 expected to be $0.03-$0.05 per share vs. consensus ests for $0.27 EPS; cites weakness in the PC mkt which depressed avg selling prices; see press release. Advanced Micro (AMD) 28.64 -0.83: -- Update -- Company warns sales declined 17% from the first quarter; cites weaker than expected flash memory demand.>>> Namaste! Jim