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

To: Johnny Canuck who wrote (36907)	5/1/2002 10:53:30 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68496

Sycamore shares off after co. warns about Q3 revs (SCMR) by Michael Baron Sycamore Networks (SCMR) is down slightly on the Island ECN after the Chelmsford, Mass., optical networking firm warned about its third-quarter revenue after Tuesday's closing bell. The company sees a pro forma loss of 10 to 12 cents a share, in line with Wall Street's consensus estimate for a loss of 11 cents. However, it pegged revenue at between $13 million and $14 million, under the average view of analysts polled by Thomson Financial/First Call of $17.1 million. Sycamore cited continued cautious customer spending in light of the "unprecedented" downturn in the telecommunications sector. The stock last changed hands at $3.05, about 10 percent below its Tuesday close of $3.38. 8:57AM Merrill Lynch: AMAT upbeat at conference (AMAT) by Julie Rannazzisi Merrill Lynch told clients that chip equipment stalwart Applied Materials (AMAT) sounded upbeat at the brokerage's "Hardware Heaven" conference in San Francisco on Tuesday. While AMAT did not make specific comments about the quarter, Merrill claimed the "tone" of the presentation showed management's excitement about the improving business outlook. "AMAT believes that the increase in business due to technology upgrades in early 2002 has just scratched the surface of the actual demand," Merrill said, noting that China remains an "important piece of the AMAT Puzzle" since the company expects to book up to $500 million in China this year. Merrill also said it feels "quite comfortable" with its fiscal second quarter revenue, earnings and order estimates on AMAT. Shares closed up 1.6 percent to $24.32 on Tuesday. 9:00AM Treasury suspends debt buybacks by Rachel Koning Slimmer-than-expected tax revenues led Treasury to suspend its debt buyback operations, the agency announced Wednesday as part of the details on its quarterly refunding operations. The United States will sell a larger-than-expected $22 billion new 5-year note next week, shifting from the reopenings of previously sold issues to outright issues amid a changing debt management landscape. The agency will however, continue to sell only additional issues from previously sold 10-year notes. Next week, it will sell $11 billion more of its securities to mature Feb. 15, 2012. Treasury also warned that without an extension from Congress, its spending needs will bring it up against the $5.95 trillion debt ceiling by the middle of June. The Bush administration has asked for a permanent extension to the debt ceiling. [Harry: Decreasing debt is one of the reasons the US dollar has been strong, so this is not a good sign. I wonder if there is a mood to re-inflate the economy as under Reganomics.] 9:03AM Agile Software warns, cuts jobs (AGIL) by Tomi Kilgore Shares of Agile Software (AGIL) are getting pummeled for a $3.21, or 35 percent loss, to $5.95 in pre-open trading Wednesday after the provider of product chain management software said fiscal fourth-quarter losses would be wider than consensus analyst expectations on revenue that would fall short of forecasts. The company added that it will reduce its workforce by 15 percent to better align its resources with current weak industry conditions.