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To: Kelvin Taylor who wrote (38361)	2/9/2002 12:18:59 AM
From: Larry S.	Respond to of 53068

PVN and QCOM - i believe the big drop in PVN earnings is that last year, PVN was still recording big quarterly earnings. Now, earnings are down as write-offs of bad loans are killing earnings. I think the stock is a survivor now, and will trend back to the 10-14 range over the next 6 months. QCOM - been reading the QCOM talk on G&K threads - i posted the following 3 year chart of QCOM: stockcharts.com[h,a]daclyiay[df][pb200!b50!f][vc60][iut!Lh14,3!La12,26,9]&pref=G - how do you spell ugly. lower highs and lower lows. of course, there are tremendous trading ops in the zigs and zags for those so inclined. i am out of qcom, exited at 56 recently, deciding that my tech and gorilla money would be better invested elsewhere. larry

To: Kelvin Taylor who wrote (38361)	2/9/2002 11:16:40 AM
From: E.J. Neitz Jr	Respond to of 53068

Ignore Corning's Siren Song ---(Cramer Article) By James J. Cramer 02/08/2002 15:45 -------------------------------------------------------------------------------- So Corning GLW says sales may gain this year and the stock goes up 10%? Whoop-de-do. But let's be realistic. This company is just buying time. It has no real growth, lots of debt and frankly, I can't believe that the company is still going out there with this bullish garbage. You would think that after two years of hype, Corning would at last be willing to keep its big trap shut. Nope. These guys just keep hyping and hyping. Why do they bother? To suck you in? To keep you in? I can't tell you how tired I am of this kind of promotion from this company despite the fact that its customer base is being decimated, just decimated. "We are increasingly confident that the first quarter will represent a bottom," CEO John Loose told investors. Give me a break! You have burned so many people so badly you have no right to make that kind of prediction. Phew, I just couldn't stand it anymore. This company has cost people so much money that I just had to speak up. Next!

To: Kelvin Taylor who wrote (38361)	2/9/2002 11:21:58 AM
From: E.J. Neitz Jr	Respond to of 53068

Merrill Report on Corning---2-8-02 Corning (GLW, $7.28, C-3-1-9) Volatility Risk: Above Average 02E d$0.25-d$0.05 • At a company meeting, Corning was more specific about their Q1 outlook. The company expects sales between $925-$950 Million, we were estimating revenues of $875 Million, gross margins are expected to be 15-20% versus our estimate of 14% and the company expects an EPS loss of $0.14-$0.18, we were estimating a loss of $0.13. • The company was more pronounced about the bottom but extremely cautious about how long the bottoming process would continue. The market is reacting favorably to positive fiber unit results - up 15% from a very low bottom. This results in sales that are a little better but our EPS estimates remain the same. • Just as we warned near term investors about getting too aggressive about news of the opening up of plants in January we would do the same here. The biggest reason is price on fiber, which could have its worse year ever given the amount over capacity in the industry. While we will see unit improvement we believe most of it could be offset by the price declines. • In addition, we don’t expect a big uptake in demand QoQ but we expect normal seasonality in their Telcom business with price pressures continuing. • We continue to be cautious in the near term. However the meeting reinforced our longterm Strong Buy rating. The balance sheet, liquidity and leading market shares lead us to maintain our long-term Strong Buy rating. (S. Fox)

To: Kelvin Taylor who wrote (38361)	2/9/2002 11:40:18 AM
From: E.J. Neitz Jr	Respond to of 53068

MCI Group: Reports Soft Fourth Quarter; 2002 Looks Dismal; Dividend Called into Question (Goldman Sachs Comments 2-8-02) MCI Group (MP) reported fourth-quarter numbers well below our expectations. Revenues of $3.2 billion were $42 million light of our estimate, EBITDA of $217 million was $169 million light, and EPS of -$0.22 missed our estimate of $0.65 by $0.87. The outlook for 2002 calls into question the cash flow available to pay the dividend. While management articulated support for the dividend, our numbers do not demonstrate this support. Our revised estimates for 2002 are for revenues of $11.8 billion, EBITDA of $829 million, and EPS of -$1.61. We continue to recommend avoiding the stock, although the already-declared first-quarter dividend should not be at risk.