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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36265)	2/28/2002 8:34:02 AM
From: vampire	Read Replies (1) \| Respond to of 69833

who is "madtrader"?

To: Johnny Canuck who wrote (36265)	2/28/2002 11:14:17 AM
From: j g cordes	Read Replies (3) \| Respond to of 69833

Some interesting stuff here on derivatives.. when you click to download the pdf it pops up a querry. Must admit I signed up for a few of the onine newspapers.. astrophysics being a current interest. ejournals.wspc.com.sg

To: Johnny Canuck who wrote (36265)	2/28/2002 11:37:09 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69833

Riverstone slumps on sales shortfall By Jeffry Bartash, CBS.MarketWatch.com Last Update: 10:17 AM ET Feb. 28, 2002 NEW YORK (CBS.MW) - Shares of Riverstone Networks plunged 40 percent on Thursday after the communications equipment maker said it wouldn't meet its sales target. Citing reduced demand among customers, Riverstone said fourth-quarter sales would tally around $50 million to $54 million - below Wall Street forecasts of as much as $65 million. In response, Riverstone said it will lay off an unspecified number of workers and take other steps to cut costs by 10 percent. The company will also take a charge of $26 million to $30 million to reflect the jobs cuts, elimination of certain products and dwindling value of "impaired" assets and equity investments. In recent action, Riverstone (RSTN: news, chart, profile) sank $3.20 to $4.39. Volume was heavy at 14 million shares traded. The stock has had a wild ride since last September, surging from just under $5 to reach a peak of $21 in early January. In the past month, the stock has retreated amid concerns about the financial stability of its customers, many in which Riverstone owns a financial stake. Those fears have been exacerbated by the Enron scandal. By and large, analysts believe those relationships are sound. The company has taken small positions in companies in Asia that help to market and distribute Riverstone's products, thereby reducing selling costs. Those partners also buy some equipment for themselves. Riverstone develops gear that enables communications carriers to provide high-speed service in dense urban areas known as the "metro" market. It was spun off last year after parent Cabletron Systems split itself into three separate businesses. Riverstone primarily focuses on ethernet products, the leading technology for in-house company networks. Increasingly, ethernet technology is being used for large, high-speed communications networks, mostly in Asia. It's expected to be a strong growth market of the future. The future, however, isn't here yet. The U.S. and European markets, in particular, are either not as advanced or aren't growing as fast amid an economic slump. That's where Riverstone is facing the most trouble. Last year, Riverstone posted revenue of nearly $100 million. In the current fiscal year, which ends in February, the company had said it was on track to achieve sales of around $225 million, though that figure will end up lower as well. Jeffry Bartash is a reporter for CBS.MarketWatch.com in Washington