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Non-Tech : The Dazzling and New Women of SI Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rainy_Day_Woman who wrote (167)	5/15/2002 9:09:21 AM
From: Rainy_Day_Woman	Read Replies (1) \| Respond to of 228

8:55AM: After two days of strong gains the market is poised for a weaker start to the session. The S&P 500 futures are trading 0.9 points below fair value, the Nasdaq 100 futures are 6 points below fair value while the Nasdaq 100 PMI is off 8 points. Some favorable news from AMAT (+2.1% pre-market) last night as the company beat the consensus EPS and revenue estimates for Q2 and guided revenue higher for Q3. Said seeing a recovery in the semiconductor market. However, it was downgraded by Deutsche Bank this morning based on: expectations for slowing DRAM momentum, absolute order levels, highest order growth now in rear view mirror, summer seasonality, and valuation; firm did raise CY02 est to $0.33 from $0.27 and CY03 to $0.85 from $0.75. Hewlett-Packard (HPQ -1.3 pre-market) was less encouraging as it missed on the bottom line by $0.01 and suggested that it did not see meaningful improvement in IT spending until 2003. The early round of inflation data had a slightly negative impact as both the headline CPI number and excluding food and energy were slightly higher than expected.