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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (30607)	2/22/2002 9:36:54 AM
From: Chris	Respond to of 52237

08:26 ET JDS Uniphase has downside risk to $4 -- CIBC (JDSU) 5.26: -- Update -- As reported at 07:36, CIBC World Mkts has downgraded JDSU to HOLD from Buy. Firm cites worsening visibility for telecom carriers and optical system manufacturers. Say stock appears overvalued at an enterprise value of 6.2x CY02 revenue estimate, a large premium to the group which trades at just over parity at 0.3x. Believes stock could trade down to $4.

To: Chris who wrote (30607)	2/22/2002 11:33:36 AM
From: stockman_scott	Respond to of 52237

Free Fall, Redefined... <<...The utter breakdown of the telecommunications-equipment industry has been well chronicled by TheStreet.com's ace telecom reporter, Scott Moritz. As investors know all too well, visions of ever-expanding new networks have given way to stumbling customers hoarding scarce cash. Revenue at the big networking shops has fallen by 50% and more; few CEOs are willing to project any financial guidance more than a quarter in advance. But even by the standards of this wretched sector, Ciena suffered an unusually harsh blow Thursday: Its second-quarter revenue forecast fell nearly 10% -- during its postearnings conference call. At 8:21 a.m. EST Ciena's first-quarter results were reported in an earnings posting on Business Wire, a press release service on the Internet. The release said the company expected to report second-quarter revenue of $110 million, well short of what analysts expected and barely a quarter of the year-ago figure. But wait, it gets worse. Shortly after 9, on the company's conference call with analysts and investors, Ciena CEO Gary Smith noted that second-quarter revenue would be around $100 million. Listeners, clinging desperately to the far-richer $110 million guidance contained in the press release, scratched their heads. Is business so bad that Ciena's customers are leaving it even as we speak? Apparently not, judging by what Ciena says, though the company concedes the situation was, shall we say, dynamic. At 9:07, Ciena issued a revised press release, recording for the record the corrected (lower) figure. If investors had been unhappy and befuddled, now they were just unhappy. So was someone confused about which second-quarter revenue target Ciena was actually going to announce? "It was a moving target," says a Ciena spokesman. Business Wire says it followed Ciena's instructions. Ciena investors can be forgiven for wondering just how fast the target will be moving next quarter...>> thestreet.com