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To: PCSS who wrote (93108)	9/18/2001 5:44:42 PM
From: Elwood P. Dowd	Respond to of 97611

Best Buy on the rise after Q2 report By Lisa Sanders, CBS.MarketWatch.com Last Update: 4:27 PM ET Sept. 18, 2001 MINNEAPOLIS (CBS.MW) -- Shares of Best Buy got a boost Tuesday after the consumer electronics retailer reported a second-quarter profit ahead of analyst expectations on better-than-expected demand for its products. Best Buy (BBY: news, chart, profile) added $1.37, or 2.9 percent, to close at $49.37. Best Buy said it earned $85 million, or 39 cents a share, for the three months ended Sept. 1, up from a year-ago profit of $77 million, or 36 cents a share. Its per-share earnings for the most recent quarter beat the average estimate of analysts by a penny, according to a poll conducted by Thomson Financial/First Call. On the top line, sales rose 31 percent to $4.16 billion from $3.17 billion in the same period a year earlier. Same-store sales rose 2.8 percent during the second quarter. "We saw continued gains in sales of higher-margin products, such as digital products," said Richard Schulze, the company's chairman and CEO, in a press release. "The combination of stronger-than-expected consumer interest, a more profitable sales mix and tight controls on spending drove our earnings well above expectations." Schulze noted that both Best Buy and its Musicland group generated bottom-line results ahead of the company's forecasts. Looking ahead, the Minneapolis-based company said it expects fourth-quarter earnings of 34 to 36 cents a share, in line with current analyst estimates. Lisa Sanders is a Dallas-based reporter for CBS.MarketWatch.com. .

To: PCSS who wrote (93108)	9/18/2001 5:45:55 PM
From: Elwood P. Dowd	Respond to of 97611

Genesis Microchip soars 26% TriQuint gains after financial update By Nicole Maestri, CBS.MarketWatch.com Last Update: 5:25 PM ET Sept. 18, 2001 NEW YORK (CBS.MW) -- Shares of Genesis Microchip soared nearly 26 percent in late trading Tuesday after the company raised its second-quarter revenue targets. Citing strong product shipments in the first part of the quarter, Genesis Microchip said its second-quarter revenue growth rate would surpass earlier targets. Shares, which were hammered on the Nasdaq and closed down 25 percent, rose to $24.74 on the Island ECN. TriQuint Semiconductor (TQNT: news, chart, profile) also raised its quarterly targets. It now sees third-quarter earnings per share of 4 cents vs. earlier predictions of 3 cents per share. The company also reaffirmed its sales target of $80 million. In late action, shares gained 2.4 percent to $19 after closing at $18.56. But semiconductor component and tool maker AXT cut its financial targets for the third quarter due to weaker-than-expected demand for its two main product lines. Travelocity.com said it expects third-quarter earnings to match previously outlined targets but warned that revenue will not be as much as previously expected. The travel company also said it would most likely be revising its fourth-quarter financial expectations. The reaction to the warning was muted as shares slid 1 cent to $12.40 on the Island ECN. Elsewhere in late action some big name tech stocks made a push into positive territory. On the Island ECN, Cisco (CSCO: news, chart, profile), Intel (INTC: news, chart, profile) and Sun Microsystems (SUNW: news, chart, profile) edged higher after closing Nasdaq trading lower, while Microsoft continued to add to its Nasdaq gains. Oracle (ORCL: news, chart, profile) ticked down 1 cent. After plunging in trading Monday, the indexes stabilized through much of the regular-session Tuesday on the heels of aggressive interest rate cuts at home and abroad. But as the trading day wound down, the indexes surrendered those gains and both the Nasdaq and the Dow closed in the minus column. Read more. Genesis Microchip Citing strong product shipments in the first part of the quarter, Genesis Microchip (GNSS: news, chart, profile) raised its second-quarter revenue target to $30 million. When Genesis reported first-quarter results it predicted sequential quarterly revenue growth of 16 percent to 20 percent. The new revenue target represents sequential growth of more than 40 percent, the company said. The integrated circuit maker will report second-quarter results in mid October. Shares closed down $6.62, or 25 percent, at $19.70 ahead of the report.