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To: Kelvin Taylor who wrote (36347)	12/28/2001 2:17:02 PM
From: Susan Saline	Read Replies (1) \| Respond to of 53068

semi's showing more strength today than in the past 3/4 weeks last time we had a strong Naz rally .... the semi's lead the way ... semi's were the first to climb we're not looking too shabby here for a Jan run. re" GLW ... yeah what is wrong with that sucker? .... am just not used to seeing it the color green ggg ITWO .... I sold it a few days back to buy the PVN ... both are doing well ... but ITWO .... if follows MANU shall do very very well MANU near 20's ... weren't we trading that doggie at 6 bucks <sigh>

To: Kelvin Taylor who wrote (36347)	12/28/2001 2:26:58 PM
From: Kelvin Taylor	Read Replies (1) \| Respond to of 53068

Telecom-Gear Makers Fall, Retailers Rise in S&P 500 This Year By J. Kyle Foster New York, Dec. 28 (Bloomberg) -- Telecommunications-equipment makers were this year's biggest losers and retailers were the biggest winners in the Standard & Poor's 500 Index, which had its worst year since 1974. The index fell 12 percent from Dec. 29, the last trading day of 2000, through yesterday. More than half of the 10 worst performers were shares in companies that make gear used by telephone and networking companies. The stocks of companies including Applied Micro Circuits Corp., Corning Inc. and Ciena Corp. plunged an average of 80 percent as demand for their products declined. ``What drives this business is demand, and of course this year demand fell sharply,'' said Gabriel Lowy, a technology analyst at Credit Lyonnais Securities Inc. in New York. Retailers fared best as shares of AutoZone Inc., Office Depot Inc., Best Buy Co., J.C. Penney Co., Circuit City Group and Lowe's Cos. more than doubled. Bankruptcies among smaller phone and Internet companies and reduced spending by larger ones caused sales of telecommunications gear to plummet. This may continue next year, analysts said. Analysts surveyed by Thomson Financial/First Call expect S&P 500 companies to report earnings declines for the fourth and first quarters before rebounding in next year's second quarter. ``The main event is still earnings, and they're going to be terrible,'' Peter Canelo, an equity strategist at Morgan Stanley Dean Witter & Co, said recently. Worst Performer, Best Performer Providian Financial Corp., the fifth-largest Visa and MasterCard issuer, was the worst-performing stock in the index, as its shares fell 94 percent this year. The San Francisco-based company is paying for lending too much to customers with poor or short credit histories, analysts said. The company said in October that third-quarter profit fell 71 percent and fourth-quarter earnings would be at least 75 percent less than expected as the number of people unable to pay their bills increased. The best performer in the index was Nvidia Corp., whose shares more than quadrupled. The maker of graphics chips replaced Enron Corp. in the index in November. Corning, JDS Uniphase Corning, the No. 1 supplier of the hair-thin strands of glass used for optical networks, is shedding as many as 12,000 jobs, or 28 percent of its workforce, and will close plants and businesses to contend with falling sales. Shares of the Corning, New York- based company fell 84 percent this year to $8.47 yesterday from $52.81. JDS Uniphase, the No. 1 supplier of fiber-optic components, is shedding 16,000 jobs, more than half its workforce, and 30 percent of its real estate to cut expenses $800 million a year. The shares of San Jose, California-based JDS Uniphase, closed at $8.50 yesterday, from $41.69 last year. Lowy has ``reduce'' ratings on Corning and JDS Uniphase Corp. He said investors should avoid the stocks. Lowy said he doesn't expect demand for telecommunications equipment to catch up with supply for a while. ``The days of 18 or 20 or 30 percent growth are not going to return,'' he said. Retailers Shares of Best Buy, the largest U.S. electronics retailer, and Office Depot, the largest office products seller, have more than doubled. Office Depot's profit increased in the third quarter, the first time since Chief Executive Officer Bruce Nelson took over in July 2000. The company expects to beat reduced fourth-quarter estimates. Under Nelson, the company has closed 76 stores and reduced inventory while increasing sales of private-label goods with bigger profit margins. Department-store chain J.C. Penney started selling Disney children's clothing, Avon makeup and Joe Boxer sheets as part of a turn-around effort. Home-improvement chain Lowe's is benefiting as lower mortgage rates leave consumers with more cash to spend on improving their homes. BEST PERFORMING Nvidia Corp. +323% Office Depot Inc. +159% AutoZone Inc. +156 Best Buy Co. +150% J.C. Penney Co. +141% H&R Block Inc. +116% Lowe's Cos. +110% Xerox Corp. +108 WORST PERFORMING Providian -94% U.S. Airways Group -88 Palm Inc. -87% Applied Micro -86% Corning Inc. -84% Ciena Corp. -83% JDS Uniphase Corp. -80% EMC Corp. -79%