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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (1852)	2/6/2002 8:55:05 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95738

CSCO seems to have lit a fire under the market the last couple of quarters at least. Looks like they will do it again. Inventories have to be getting quite low throughout numerous industries. I think we will see an increase in semiconductor orders again this month when the btb comes out. It should be very interesting. story.news.yahoo.com Cisco Says It Will Exceed Targets Wed Feb 6, 8:43 AM ET SAN JOSE, Calif. (Reuters) - Computer networking firm Cisco Systems Inc. on Wednesday said it would exceed current Wall Street average estimates for second-quarter earnings per share and revenues -- a surprise disclosure made hours before the company is due to report quarterly results. The announcement came as the company said it inadvertently distributed to a large number of employees a statement about the company's performance in the quarter, ended Jan. 26. Cisco said the memo to employees stated that booked orders for products were $3.9 billion in the quarter, above an internal goal of $3.75 billion. In premarket trading, Cisco shares rose to $19.04 from a Tuesday close of $18.50. Cisco is scheduled to report financial results for the quarter after the close of business on Wednesday. Analysts on average expected Cisco to report a profit of 5 cents a share and revenue of $4.55 billion for the quarter, according to a survey by research firm Thomson Financial/First Call. "We felt that it was necessary to disclose this information publicly, given the broad internal distribution of the communication," Cisco Chief Financial Officer Larry Carter said in a statement.

To: robert b furman who wrote (1852)	2/6/2002 6:14:31 PM
From: Return to Sender	Respond to of 95738

CSCO cc is an after hours rally killer: Close Dow -32.04 at 9653.39, S&P -6.51 at 1083.51, Nasdaq -25.81 at 1812.71: The market was initially set up for a mixed open but a surprising report from tech bellwether Cisco Systems (CSCO +0.6%) triggered a reversal in sentiment leading to the solid opening. The company announced that an internal communication from an executive characterizing co's Q2 financial results in positive terms was prematurely and inadvertently distributed. If you also toss in the fact that two stocks (TYC +12.2% and ELN +0.1%), which have been punished of late amid accounting worries, also put together a recovery rally (ELN faltered after early run), a case certainly could have been made for a decent advance today. Unfortunately, the major averages all extended their losing streaks to four sessions. The underlying nervous sentiment continued to hold sway with debt related concerns about Computer Assoc (CA -13.5%) and WorldCom (WCOM -4%) along with fresh accounting concerns swirling around Whirlpool (WHR -9.7%) kept the market on edge throughout the day. The areas of interest for the bulls were relatively limited with little other than oil/oil service, healthcare and selective networking, semi and storage stocks in the black. The worst performing groups included: biotech, software, Internet, telecom, airline and gold. The latter group had run particularly hard of late (XAU up as much as 14.8% over previous four days) with profit taking a likely culprit after prices topped the $300 level in early action. Volume was modestly heavy with market internals holding a bearish bias throughout the session. DJTA -2.9%, DOT -2.5%, Nasdaq 100 -1.1%, Russell 2000 -1.4%, SOX +0.3%, XOI +0.8%, NYSE Adv/Dec 1134/1937, Nasdaq Adv/Dec 1201/2364 5:50PM Cisco Systems (CSCO) 18.61 +0.11: -- Update -- On call, says it could end up with lower book-to-bill on product side in Q3 as it attempts to tighten up its lead times... CSCO -1.27 at 17.34 5:41PM Cisco Systems restricts guidance to Q3 (CSCO) 18.61 +0.11: -- Update -- On call, says it still has limited visibility given uncertain economic environment, and as such, it will only be providing guidance at this time for Q3... CSCO -0.96 at 17.65 5:38PM Cisco Systems providesQ3 guidance (CSCO) 18.61 +0.11: -- Update -- On call, says it is planning on revenue to be flat to up in the very low single digits on a sequential basis ... based on Q2 revenues of $4.8 bln, that would be ahead of current Multex consensus of $4.67 bln... pro forma gross margins to be in high 50% range; operating expenses to be approx. flat; other income and expenses to be approx. flat; tax rate to be 28%; share count to grow 30-50 mln shares quarterly; and expects to generate $300-400 mln per month in cash from operations in Q3... CSCO -0.94 at 17.67 5:17PM Cisco Systems Q2 geographic breakdown (CSCO)18.61 +0.11: -- Update -- On call, gave following geographic breakdown for total Q2 product bookings: EMEA 31%; U.S. 44%; Americas/Intl. 6%; Asia-Pacific 11%; and Japan 8%... says Germany was an exception in EMEA market as orders there were down double-digits sequentially; in U.S, enterprise business remains mixed and service provider segment remains depressed... CSCO +0.19 at 18.80 5:10PM Cisco Systems to buy back stock (CSCO) 18.61 +0.11: -- Update -- On call, says it has been buying back stock and will continue to be active in the market buying back its stock as it sees such a move as a good use of its cash... notes DSOs fell 2 days in Q2 to 22 days and Q2 inventory turns were 7.0 vs 5.5 in Q1... CSCO +0.39 at 19.00 4:58PM Cisco Systems comments on Q2 (CSCO) 18.61 +0.11: -- Update -- On call, said it generated approx. $2 bln cash from operations in Q2 and that it retained approx $1.9 bln of that total... notes Q2 book-to-bill was approx 1.0... CSCO +0.82 at 19.43 4:25PM Cisco Systems inventories drop - Deferred revs rise (CSCO ) 18.61 +0.11: -- Update -- More detail on the report -- inventories fall to $1.0 bln from $1.3 bln; deferred revenues rise to $3.8 bln from $3.5 bln. 4:19PM Cisco Systems beats estimates (CSCO) 18.61 +0.11: -- Update -- Reports Q2 pro forma EPS of $0.09, $0.04 better than the Multex consensus; revs came in at $4.8 bln, vs the consensus of $4.5 bln. 4:09PM AXT Inc. matches estimates; updates guidance (AXTI) 9.83 -0.08: Reports Q4 (Dec) loss of $0.17 per share, in line with the Multex consensus of ($0.17); revenues fell 59.7% year/year to $15.4 mln vs the $13.3 mln consensus; company updates guidance for Q1; sees net loss in the range of $0.14-$0.16 per share versus the current consensus estimate for a net loss of $0.14 per share; sees Q1 revenues flat to 5% higher than Q4. 2:43PM Salomon says January better for KLAC/LRCX : Hearing from sources that Salomon Smith Barney believes that January was better than expected for chip equipment KLA-Tencor (KLAC 58.56 +0.75) and Lam (LRCX 22.60 +0.20). 1:28PM Nasdaq Composite Intraday Technicals : -- Technical -- Index has lifted well off the session's worst levels and into the upper half of its intraday range. From current levels, look for upside resistance in the area of 1840 followed by subsequent overhead at 1853/1855. To the downside, look for initial support in the range of 1825/1828 followed by a subsequent floor at 1814. 11:48AM QLogic Intraday Technicals (QLGC) 46.30 +0.12: -- Technical -- Another stock in the storage sector demonstrating relative strength. Look for initial resistance at 46.65/46.85 followed by subsequent overhead at 47.10. On a break above 47.10 stock has little resistance until an area of congestion around 47.70. To the downside, look for initial support at 46.15 followed by an additional floor in the area of 45.80. 10:41AM Nasdaq Composite Intraday Technicals : -- Technical -- Index has broken below notable support at 1828. From current levels, look for downside support at 1814 which represents the lower end of its 10 and 20-day Bollinger bands. After that, index has little in the way of additional support until 1793. To the upside, look for initial resistance at 1825/1828 followed by subsequent overhead at 1840. finance.yahoo.com RtS