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To: Return to Sender who wrote (2863)	4/22/2002 9:43:03 AM
From: Return to Sender	Respond to of 95422

From Briefing.com: 7:40AM Micron/Hynix talks progress (MU) 29.50: Announces the signing of a non-binding memorandum of understanding for the purchase of Hynix's memory business in exchange for approx 108.6 mln shares of Micron common stock. Micron will also invest $200 mln in Hynix in return for a 15% equity stake in Hynix's continuing non-memory businesses. As part of the transaction, Korean lenders will provide $1.5 bln of long-term debt financing for use by Micron in its Korea-based operations. 7:40AM Anadigics beats by a penny; reaffirms guidance (ANAD) 12.32: Reports Q1 (Mar) loss of $0.37, a penny better than the Multex consensus of ($0.38); revenues were $19.5 mln vs the consensus of $18.6 mln. Company says it's 90% booked to meet Q2 revenue forecast of $21 mln (Multex: $20.6 mln), sees loss of $0.31 vs consensus of a loss of $0.30. 7:36AM Agere Systems to be spun off from Lucent June 1 (AGR.A) 3.67: Lucent announces that it has met all of the financial conditions under its credit facility to complete the spinoff of Agere Systems. The distribution is planned for June 1, 2002, to the holders of Lucent common stock as of the close of business on May 3. 7:33AM Lucent Tech approves options exchange program (LU) 4.29: -- Update -- Co's board of directors approves an offer that will enable eligible employees to voluntarily exchange certain outstanding stock options, most of which are priced well above current market levels. 7:30AM Lucent Tech results largely in-line (LU) 4.29: Reports Q2 loss of $0.14 per share, $0.03 better than the Multexconsensus of ($0.17). Revenues rose 1.5% year/year to $3.52 bln vs the $3.61 bln consensus. For Q3, co sees a modest sequential improvement on the bottom-line. Co is reluctant to provide rev guidance due to market uncertainty. 7:25AM WorldCom, Ericsson weigh on futures : -- Update -- Several downgrades of WorldCom (WCOM) this morning following announcement late Friday that fiscal 2002 revenues would come in between $21-21.5 bln (consensus $22 bln) and EBITDA about 15% below prior expectations... Warning by Ericsson (ERICY) that it expects a full yr loss and no longer sees a pickup in demand in the 2nd-half is hitting telecom equipment names NOK, ALA, MOT. Ericsson also stated that it plans to cut one-fifth of its workforce and raise approx. $2 bln through stock sales... Currently, Nasdaq futures are trading 18 pts below fair value; S&P futures are 2.9 pts below fair value. 7:06AM WorldCom cut to Neutral from Buy at Solly following warning (WCOM) 4.29: 7:02AM Short interest climbs to record level : The Wall Street Journal reports that the level of short selling rose to a record on the NYSE this month, driven by hedge-fund selling. Short interest increased by 3% to 6.84 bln shares. The stocks experiencing the largest increases in shares shorted were (in order) LU, NT, HWP, PFE, GE, KO, CA, CNC, XOM, GPS, MO, LOR, HD, PEP. 6:51AM Lucent Tech inks 3-yr DWDM pact with Verizon (LU) 4.29: Announces 3-yr agreement to expand the capacity of Verizon's regional inter-office core network throughout the U.S. Verizon has named Lucent its exclusive provider for future deployments of ring Dense Wavelength Division Multiplexing technology. finance.yahoo.com^SOXX&d=t