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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: jjstingray who wrote (37741)	3/5/2002 6:56:26 PM
From: Zeev Hed	Respond to of 99280

No, it is because the chart in general is quite weak, these are the tops of the next two boxes. I have it going to $25 in the late June massacre. Zeev

To: jjstingray who wrote (37741)	3/6/2002 8:47:32 AM
From: T L Comiskey	Respond to of 99280

RESEARCH ALERT-Merrill cuts China Unicom revs view HONG KONG, March 6 (Reuters) - Merrill Lynch said it lowered its 2002 revenue forecast for number-two mainland mobile carrier China Unicom Ltd by 7.7 percent to 36.7 billion yuan (US$4.43 billion), due to slower than forecast adoption of the carrier's new CDMA-standard service. However, the investment bank said it increased its earnings forecast by four percent to 4.1 billion yuan for 2001, and by 18 percent to 4.7 billion yuan in 2002, largely because of a decrease in Unicom's effective tax rate. Shares in China Unicom rose 0.65 percent on Wednesday to close at HK$7.80. Merrill Lynch said it lowered its long-term rating on China Unicom to "buy" from "strong buy," and cut its share price objective by 10 percent to HK$9. The investment bank said it slashed its 2002 forecast for Unicom CDMA subscribers to three million from its earlier target of 5.3 million. Merrill Lynch said its expectation lags Unicom management's own recently reduced prediction that its net new CDMA subscribers will total five million in 2002, compared with an earlier forecast of seven million. The CDMA, or code division multiple access, network based on San Diego-based Qualcomm Inc's technology that was launched at the beginning of the year has been plagued by a lack of handset availability. Observers have also questioned Unicom's positioning of CDMA as a high-end service in a price-sensitive market. While Merrill Lynch stuck with its prediction that China Unicom will add 11.5 million total mobile subscribers this year to 38.9 million, it said the majority of new users will sign up for Unicom's GSM service. 04:59 03-06-02