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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (1585)	1/28/2002 9:30:21 PM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

TXN WATCH/EARNINGS - Finished in A.H. 29.80 x 29.90 (up 2.35 from Friday's close and 1.50 from regular session close) Beat earnings last quarter by .03 eps and beat revenues. Also announced they will beat earnings this quarter by .06 and revs by $120 Million. They will be cutting Cap Ex (not R&D) by $1 billion, mainly because their new Fab plant will not be a drain any longer and will add to Revenues and likely cut costs since the plant will employ the latest technology. To me, this is a pretty good report and suggests that a bottom had been reached some time ago. Revenues may not increase dramatically until the second half, but this was sure a better report than almost anyone expected. If that's the measure by which stocks are going up, then this will be fine now. The low 30's is a given. If people focus on the better than expected but still flat sequential earnings with last quarter, we may not see much happen. I'll be watching.