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

To: Johnny Canuck who wrote (36700)	4/9/2002 3:17:08 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 67935

09:24 ET BofA cuts price targets and estimates on EMS co's Banc of America lowers price targets and some estimates for EMS co's; cuts CLS price target to $44 from $55 and lowers 2002-03 rev/EPS ests due to the risk that IBM (largest customer) may have substantial excess inventory in the June qtr; cuts FLEX price target to $22 from $25 and lowers 2002-03 rev/EPS ests due to weakness in IBM, RSTN, ETS, LU, and slowing Xbox momentum; cuts SANM price target to $18 from $25; and cuts SLR price target to $12 from $15. 09:06 ET IBM shortfall should have limited impact on Emulex, Qlogic-- TWP Thomas Weisel believes that IBM's negative preannouncement should have a limited impact on EMLX and QLGC; for EMLX, CPQ (EMLX's largest customer) should make up for any potential weakness at other key OEMs like IBM and EMC, and firm continues to believe that biz with IBM was at or close to plan; for QLGC, co has the most diversified biz in the SAN space and IBM accounts for less than 5% of sales, while co should benefit from strength in low-end server and storage lines with DELL, CPQ, and SUNW. 22 ET Robbie cuts estimates on storage stocks Robertson Stephens cuts estimates on stocks in the storage sector (their index is composed of BRCD, EMC, EMLX, LGTO, MCDT, NTAP, QLGC, and VRTS); as justification for the cuts, firm cites: field checks indicating caution on the part of IT buyers for Q2 or longer, disappointing results from storage and software vendors, and the belief that 2002 rev and earnings targets provided by storage co's on Q4 conference calls and/or consensus ests are likely too high.

To: Johnny Canuck who wrote (36700)	4/10/2002 3:51:10 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67935

Running list stocks confirming/upping guidance April 9,2002 MCHP ***** NXTL ANAD ANEN RMTR TTWO RCL UCL ELBO * TREE EK ITRI SMRT TSA CYMI PNR GM GE INSP CD ESST UAG EMN ROH TSG KEM PG CKFR CLX TKR DL TRB JILL FO TIBX EXEL ALLY STN UAG EMN JBL IDTI SHW MVIS BYD GE FINL PFE GGC CBRL WTSLA BOL YELL TWR LBRT MANU DCN EMMS DCTM BOL WDC HRV BHE MONE WDC DELL RTN* DD JNY SKX PFCB WEBM HLYW DHI SWK SY BBBY STR WBSN MMM CHPC FTS DELL MWRK CPKI CRUS BRCD INRG SBAC GNSS PEET UNTD RL**** JDAS CPQ WEN ARRS NWRE INTU TSA BLI SPAR KCP OSIS SHRP DL IDPH LE FWHT MNRO * ELBO sold off despite beating numbers for earnings JBL reducing rev for next 2 Q's, ups EPS due to better tax rate, ups rev and EPS for year, large new contracts 2H * Appears to raise 2003 rev guidance, miss of 2004 though ** re-affirms for the Q, down slightly for the year *** MCHP raised guidance again for the Q