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

To: Johnny Canuck who wrote (34139)	9/10/2001 11:35:14 AM
From: Johnny Canuck	Respond to of 69370

KOPN guidance appears to have been accurate and wireless players are raising guidance. ******************** 11:00 -- 12:00 ET (Updated throughout the hour)**** LM Ericsson (ERICY) 3.91 +0.11: -- Morning Note -- WF Van Kasper upgrades to STRONG BUY from BUY based on valuation; views Ericsson shares as an attractive risk-reward opportunity for investors; firm realizes company has been cautious in public statements recently, but believes ERICY, as well as many other telecom equipment players, is attempting to under promise and over deliver on financial results; firm believes Q3 could be the beginning of a run of improved results over the subsequent quarters and that the improvements could stretch well into 2002. QUALCOMM (QCOM) 49.18: CSFB upgrades to BUY from HOLD rating with price target of $65 based on firm's growing confidence in CDMA 1X as a driver for handset replacements, improving ASP's as a result of favorable mix-shift towards 1X and WCDMA and pending catalysts as customers announce equipment upgrade cycles; firm's recent meetings with Korean service providers indicate that 50% of phones sold in July were CDMA 1X compared with 25% in June; indicators for CDMAOne sales in the US also market remain positive with Radio Shack reporting a 20% increase in yr/yr mobile phone sales; believes QCOM shares represent significant value at current levels. Anadigics (ANAD) 11.85: Company warns that Q3 (Sep) will see a loss of $0.56-0.58 vs current First Call consensus of a loss of $0.55, resulting from the shift in sales mix to wireless; Q4 revenues for are expected to increase to $18.0-18.5 mln; consensus is $18 mln; company is targeting a 30% reduction in operating expenses by the first quarter 2002 through additional workforce reductions, consolidation of facilities, and write-off of certain fixed assets; as a result of strength in wireless revenues, combined with cost reduction measures, company is targeting a return to profitability during second half of 2002; see press release. RF Micro Device (RFMD) 22.31: Company issues upside preannouncement for Q2 (Sep), expecting earnings of about $0.00 vs current First Call estimate of a loss of $0.04; management currently estimates that customer shipments to date and remaining backlog for its September 2001 quarter will support sequential revenue growth of approximately 30% and generate revenues of about $91 mln; consensus estimates is $78 mln; see press release. 11:18 ET TriQuint Semi (TQNT) 18.92 +0.95 (+5.3%): -- Update -- Technical -- Issue is demonstrating impressive relative strength in sympathy with a positive pre-announcement from RFMD. Look for initial resistance in the area of 19.65 which constitutes an area of modest straight line overhead. If it can subsequently clear minor round number resistance at 20.00, the chart looks to 21.00 as the next target. On an intraday basis, we would be more cautious if TQNT were to break below very near-term support around 18.50. 07:59 ET Anadigics (ANAD) 11.85: -- Update -- Company is targeting a return to profitability during the second half of 2002, citing strength in wireless revenues and additional cost reductions. 07:59 ET Anadigics (ANAD) 11.85: The second wireless chip maker to raise guidance this morning. ANAD anticipates Q3 revenue forecast to $16 mln, which company calls "better than previously expected" but is in-line with the current First Call consensus estimate. ANAD sees a net loss of $0.56-$0.58 (mean -$0.55). Looking out to Q4, firm sees revenues of $18-$18.5 mln (mean $18 mln). "We feel confident that we have seen the bottom and our fourth quarter outlook is positive." 07:57 ET QUALCOMM (QCOM) 49.18: CSFB upgrades to BUY from Hold based on firm's growing confidence in CDMA 1X as a driver for handset replacements, improving ASP's based on favorable mix-shift towards 1X and WCDMA, and pending catalysts as customers announce equipment upgrade cycles... Believes that QCOM's margin structure makes it a defensive play in the current environment of falling earnings expectations. 07:56 ET RF Micro Device (RFMD) 22.31: Wireless communications chip maker raises guidance for Q2; RFMD expects to post breakeven results on revenues of approx. $91 mln vs consensus of estimates of -$0.04 and $78 mln. Sees Q3 revenues exceeding Q2's $91 mln (consensus $89 mln). "We are seeing increased order activity and revenue growth from multiple customers and across all major air interface standards."