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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: OLDTRADER who wrote (169266)	4/11/2002 11:40:00 AM
From: kaka	Read Replies (2) \| Respond to of 176387

UBS ups Apple, cuts Dell unit sales est. (AAPL, DELL, GTW, HWP) By Emily Church UBS Warburg upgraded Apple Computer (AAPL) overnight to a 'strong buy' from a 'hold' and cut its 2002 unit shipment forecast for Dell Computer (DELL) to reflect 16 percent year-over-growth to 19.7 million units, down from an earlier estimate for 29 percent growth on a cautious stance on corporate IT spending. The broker also took down its fiscal 2003 revenue estimate on Dell by 2 percent to $33.8 billion. Dell shares were slightly lower in Germany at $26.49 in small volume. UBS said it upgraded Apple on optimism over the PC's makers new products. The broker raised its June and September quarter earnings per estimates to 16 cents and 20 cents from 14 cents and 16 cents respectively. The broker also raised its 12-month price target on the stock to $30.50 from $23. "We doubt that Apple will meet March quarter expectations because of the supply constraints and rapid channel stocking very late in the quarter - but we believe this is somewhat expected and will be overshadowed by the second half earnings outlook," analyst Don Young told clients.

To: OLDTRADER who wrote (169266)	4/11/2002 12:41:13 PM
From: stockman_scott	Read Replies (1) \| Respond to of 176387

Merrill Lynch Seeks Disclosure Delay Thu Apr 11,11:33 AM ET By MICHAEL GORMLEY, Associated Press Writer ALBANY, N.Y. (AP) - Merrill Lynch & Co. was expected to ask a judge for more time to comply with disclosure requirements under a state investigation of conflicts of interest within several Wall Street firms, a law enforcement source said. Merrill Lynch was expected to be in state court Thursday in Manhattan with attorneys for state Attorney General Eliot Spitzer to try to work out "parameters" of an extension of Thursday's deadline, the law enforcement source said speaking on the condition of anonymity. The judge would have to approve the terms. Merrill Lynch's other option was to go to court by 5 p.m. to contest Spitzer's court order obtained Monday. The court order requires detailed disclosures on whether the firm has done investment banking business or hopes to get such business for publicly traded companies that are the subject of its analyst recommendations. A Merrill Lynch spokesman didn't immediately respond to a request for comment Thursday. The firm has previously said Spitzer's accusations were wrong and the evidence was taken out of context. Spitzer's investigation focuses on the accuracy and honesty of Wall Street analysts who recommend whether to buy or sell stock. Critics say analysts often promote stocks their firms can get lucrative merger and acquisition or stock underwriting fees from. On Wednesday, Spitzer's office confirmed the investigation has been expanded to other firms, but refused to name them. The source familiar with the investigation, who spoke on condition of anonymity, identified the firms as Goldman Sachs Group Inc.; Credit Suisse First Boston, a unit of Credit Suisse Group; Morgan Stanley Dean Witter & Co.; the UBS PaineWebber division of UBS AG; the Salomon Smith Barney unit of Citigroup Inc.; and Bear Sterns Co. The Wall Street Journal reported Thursday that Lehman Brothers Holdings Inc. and Lazard Freres were also among the firms that have received subpoenas or would receive them shortly. Spitzer said a 10-month investigation showed Merrill Lynch lied to clients and recommended shares they knew were probably bad investments. The investigation, which honed in on Merrill Lynch's Internet research arm, uncovered a series of e-mail messages that Spitzer said show analysts had doubts about some stocks even while they maintained positive recommendations. In an interview Wednesday, Spitzer said efforts to settle the case with Merrill Lynch failed in part because the company did not want the e-mails made public. Spitzer said he did not know how much money customers lost, but he estimated the clients "number in the hundreds of thousands, if not millions."