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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (47852)	2/21/2002 9:01:22 AM
From: stockman_scott	Respond to of 65232

07:32 ET Cox Comm upped by Morgan Stanley; target implies 40% upside (COX) 32.70: Morgan Stanley upgrades to STRONG BUY from Outperform following recent price decline. Firm's price target of $45, based on 14.3x 2003 EBITDA, implies almost 40% upside. Firm sees minimal financial risk. 07:30 ET Andrew upped by Morgan Stanley; fundamentals improving (ANDW) 15.99: Morgan Stanley upgrades to OUTPERFORM from Neutral based on the combination of potentially improving fundamentals and valuation. Price target $27 07:24 ET Taro Pharm exceeds estimates (TARO) 33.78: Reports Q4 net of $0.34 a share, $0.03 better than consensus, vs yr-ago EPS of $0.14. Sales increased 47% to $44.01 mln (consensus $42.86 mln). 07:24 ET Intel: BofA cuts estimates due to weakening visibility (INTC) 31.44: Banc of America says that checks with motherboard vendors and channel participants reveal that visibility into the month of March and beyond has weakened; in addition, the formerly tight supply of processors also began to loosen towards the end of Jan, which could lead to weaker pricing. Firm believes that the current qtr is on track, but that June qtr consensus est is too high; trims ests for June qtr to $0.12 from $0.14 and Sept qtr to $0.16 from $0.18. 07:19 ET Nextel Comms delays earnings due to NII issues (NXTL) 4.38: Co reports domestic financial results for 2001, including revenues of $7.01 bln, operating cash flow of $1.90 bln and approx. 8.7 mln subscribers. "Strong customer demand produced fourth-quarter results at the high end of our guidance..." Co announces that until amount of the charge by NII holdings subsidiary can be finalized, co is in a position to report only domestic results today and will not be reporting EPS or any other consolidated results until the filing of the annual reports on Form 10-K. 07:14 ET OTG Software to be acquired by Legato for $11.13 in cash/stock (OTGS) 9.20: Enters agreement to be acquired by Legato Systems (LGTO) for $403 mln or $11.13 per share in cash/stock. 07:12 ET RadioShack beats by a penny; warns for Q1 (RSH) 27.01: Reports Q4 net of $0.67 a share, $0.01 better than consensus, vs yr-ago EPS of $0.74. Sales declined 4% to $1.52 bln. For 2002, RadioShack remains confident it will deliver 13%-15% earnings per share growth. However, co lowering Q1 guidance to $0.28-$0.29 (consensus $0.35). 07:11 ET Precise Software upped at CSFB (PRSE) 18.42: CSFB upgrades to STRONG BUY from Buy due to valuation; sees the recent price drop as a reflection of growing pessimism over its ability to deliver fundamental performance over the next several qtrs relative to Street expectations; yet firm says PRSE is extremely well-positioned and possesses significant competitive advantages, believes Street ests are too low. Price target is $28. 07:08 ET AOL's biggest outside stockholder may be heading for the exits -- WSJ (AOL) 24.20: The Wall Street Journal reports that Janus Capital has quietly been selling shares in AOL even as some of its money managers publicly have kept a positive stance on the stock. Since last March, Janus has sold about 25% of its 24 5 mln share position. Last week Janus disclosed in an SEC filing that it had accelerated selling during Q4, disposing of an additional 32 mln shares.