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

To: Johnny Canuck who wrote (34041)	9/5/2001 11:37:14 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69762

08:39 ET SoundView Starts RBOCs : Hearing from sources that SoundView Technology is recommending an overweight position in RBOCs as these companies will gain market share in the next 12-18 months; initiates the following companies with BUY ratings: SBC (SBC 42.00) with a $50 target, Qwest (Q 20.85) with $31 target, Verizon (VZ 49.95) with $58 target, and BellSouth (BLS 38.00) with $40 target. 08:34 ET AHH Cuts Semi Equip : Adams Harkness Hill reduces capital equipment's industry 2000-2004 CAGR to 10% from 16.4%; reiterates STRONG BUY on VSEA, but downgrades the following: TWAV and VECO to BUY from Strong Buy; ATMI, BRKS, HELX, KLAC, LRCX, NANO, NVLS, and PRIA to MKT PERFORM from Buy. 08:29 ET WorldCom (WCOM) 12.78: Thomas Weisel Partners upgrades to STRONG BUY from Buy; cites strategic positioning, strong fundamentals, and attractive valuation. 08:05 ET McData (MCDTA) 14.05: Acquires the network management software subsidiary of Western Digital for $29.75 million in cash. Deal is expected to be dilutive by $0.02 in Q4 and $0.05-$0.06 in full yr 2002. 08:02 ET Goldman Transfers Semi Equip : Goldman Sachs transfers coverages of semi equipment sector to a new analyst; James Covello is quite negative on the sector and expects an 8% decline in 2002 capital expenditures; believes investors will tire of waiting for an imminent recovery and expects a negative market reaction early next year when companies such as INTC announce capex down by as much as 30% year/year. Only AMAT is put on the RECOMMENDED LIST; the following stocks are resumed with lower ratings than under the previous analyst: ATMI, ACLS, CMOS, LRCX, MKSI, NVLS, and TER. See Up/Downgrades page for details. 07:40 ET Merrill Cuts Telecoms : Merrill Lynch downgrades ERICY to long-term ACCUMULATE from Buy, MOT to near-term NEUTRAL from Accumulate, and ALA and MONI to long-term NEUTRAL from Accumulate; maintains long-term BUY on NOK. Firm cuts 2002 handset sales forecast to 410 mln units from 450 mln; believes mobile infrastructure market will decline 5% in 2002 vs prior estimate of +10%, cites slower subscriber growth and weak replacement cycle. Also cuts European fixed line infrastructure estimate to -10% from flat. Also this morning, CSFB is trimming estimates on NOK and ERICY. 07:34 ET Tellabs (TLAB) 12.77: Salomon Smith Barney downgrades to NEUTRAL from Outperform and cuts price target to $13 from $19. 07:08 ET JNI Corp (JNIC) 5.85: Company expects to report a Q3 loss of $0.03-$0.06 on revenues of $17-$20 mln. Current consensus calls for a profit of $0.02. JNIC issues warning ahead of its presentation at the Salomon Smith Barney Tech2001 Industry Conference. Company says it is seeing some pressure on ASPs and gross margins driven by overall pressure to reduce product prices in the SAN sector. 06:57 ET Marconi (MONI) 1.46: U.K.'s largest telecom equipment maker reduces guidance, slashes its workforce by another 2,000 positions, suspends its dividend, and announces the resignation of its CEO. MONI now expects to post a 1st-half loss of 227 mln pounds vs previous est. of breakeven. European telecom stocks down in sympathy to MONI, and in reaction to a Merrill Lynch downgrade of sector names including ALA, ERICY, MONI. 06:47 ET UTStarcom (UTSI) 16.01: Provider of wireless, wireline and broadband access equipment announces its largest single contract, a deal totaling approx. $52 mln for its PAS city-wide wireless access system in the Zhejiang province of China.