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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (70884)	5/23/2002 4:15:02 PM
From: vampire	Respond to of 99280

Ya think the biotech's will pull the rest of the market up with it...or will it be a very narrow move up?

To: Zeev Hed who wrote (70884)	5/23/2002 4:20:20 PM
From: Fiscally Conservative	Respond to of 99280

Zeev should not tomorrow be an up day given the sentiment going into the weekend. If this market is going to sell down some time next week or post Memorial Day weekend I would think the street would want to fool has many has they can before the anvil drops. Just a thought. Also,the Russell 2000 had a pretty good day considering. I say we move higher

To: Zeev Hed who wrote (70884)	5/23/2002 4:31:28 PM
From: DlphcOracl	Read Replies (1) \| Respond to of 99280

Regardless of the FDA's decision on Biogen's Amevive, any strength in the biotech sector (BTK) should be shorted (although the biotech euphoria may last several days). The fundamental problems with the sector have not changed and are as follows: 1. Very slow & expensive testing and development of new drugs. 2. Even slower FDA approval, often requiring additional Phase III trials which are quite expensive to conduct. Only the largest cap biotech companies have the cash on hand to sustain themselves during the laborious clinical trials while awaiting FDA approval. 3. The ImClone kiss of death. Last year's ImClone debacle marked (IMHO) a sea change which precipitated this year's marked decline in the biotech sector. Specifically, the large pharmaceutical companies are no longer throwing inordinate amounts of money at the small, one-product biotech companies in the hopes of catching pharmaceutical lightning in a bottle. If the large pharmas do become involved with a biotech company, you can bet that it will be on very advantageous terms, severely compromising the profitability of the biotech company's wonder-drug. 4. The internet-like balance sheets of all but a handful of biotech companies. Most companies are still not profitable, are bleeding cash (high burn rate) and are dependent on 1 or 2 products still in Phase II or Phase III trials. In summary, let this nonsense play itself out; then, when markets begin their summer swoon, consider shorting the BTK. The decline in this sector will (IMO) be disproportionate.

To: Zeev Hed who wrote (70884)	5/23/2002 4:33:45 PM
From: Sully-	Read Replies (1) \| Respond to of 99280

Emulex to Move to the New York Stock Exchange New Ticker Symbol Will Be ``ELX'' COSTA MESA, Calif.--(BUSINESS WIRE)--May 23, 2002--Emulex Corp. (Nasdaq:EMLX - News), the world's leading supplier of storage networking host bus adapters (HBAs), today announced it will transfer its stock listing to the New York Stock Exchange (NYSE). Emulex's stock will commence trading under the ticker symbol "ELX" on Monday, June 24, 2002. "The NYSE is privileged to welcome Emulex to our family of listed companies," said Exchange Chairman and CEO Dick Grasso. "Emulex is a proven leader whose long-standing commitment to customers, innovation and quality are key reasons for its growth in America and abroad. The Exchange looks forward to its new partnership with Emulex and to serving the company and its shareholders." "After more than 20 years as a public company, with our global business profile and our expanding leadership position in the storage networking industry, the time is right for Emulex to move to the New York Stock Exchange," said Paul Folino, president and CEO of Emulex. "As a worldwide company with an international roster of customers and stockholders, moving to the New York Stock Exchange will increase Emulex's visibility with a wider base of investors in domestic and international markets. We believe this move will also deliver measurable savings to our stockholders through reduced transaction costs and more efficient trade executions resulting from the centrality of the NYSE marketplace." Emulex has been listed on the Nasdaq Stock Market under the ticker symbol "EMLX" since its initial public offering on March 26, 1981. Recently the Wall Street Journal, for the second year in a row, identified Emulex in the top 10 performing stocks on any exchange over the prior 3-, 5- and 10-year periods. To mark the company's first day of trading, Folino will ring the opening bell at the NYSE on June 24. Concurrent with the NYSE listing, the company's shares will be withdrawn from the Nasdaq Stock Market. About Emulex Emulex is a leading supplier and developer of storage networking host bus adapters based on both Fibre Channel and IP networking technologies. The Emulex product families are based on internally developed ASIC, firmware and software technologies, and offer customers high performance, scalability, flexibility and reduced total cost of ownership. The company's products have been selected by the world's leading server and storage providers, including Compaq, Dell, EMC, Fujitsu Siemens, Groupe Bull, Hewlett-Packard Co., Hitachi Data Systems, IBM, NEC, Network Appliance and Unisys. In addition, Emulex includes industry leaders Brocade, INRANGE, Intel, Legato, McDATA, Microsoft and VERITAS among its strategic partners. Emulex markets to OEMs and end users through its own worldwide selling organization, as well as its two-tier distribution partners, including ACAL, Avnet, Bell Microproducts, Info-X, Netmarks, Tech Data, TidalWire and Tokyo Electron. Corporate headquarters are located in Costa Mesa. News releases and other information about Emulex are available at www.emulex.com. EMULEX -- We network storage "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; fluctuation in the growth of Fibre Channel and IP markets; changes in economic conditions or changes in end-user demand for technology solutions; fluctuations or delays in customer orders; the highly competitive nature of the markets for Emulex's products; Emulex's ability to gain market acceptance for its products; the company's ability to attract and retain skilled personnel; the company's reliance on third-party suppliers. These and other factors which could cause actual results to differ materially from those in the forward-looking statements are also discussed in the company's filings with the Securities and Exchange Commission, including its recent filings on Forms 8-K, 10-K and 10-Q. Note to Editors: This news release refers to various products and companies by their trade names. In most, if not all, cases these designations are claimed as trademarks or registered trademarks by their respective companies. -------------------------------------------------------------------------------- Contact: Emulex Corp., Costa Mesa Michael J. Rockenbach, 714/513-8213 (investors) or Robin Schnug, 714/513-8152 (media) robin.schnug@emulex.com biz.yahoo.com