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

To: Suresh who wrote (37389)	6/21/2002 2:52:12 PM
From: Johnny Canuck	Respond to of 69886

Suresh, I was wondering the same thing myself on IRF. It looks like the downgrade leaked out early. IRF Intl Rectifier cut to Underperform at BofA -- estimates ambitious (37.35) Banc of America Sec downgrades to UNDERPERFORM from Mkt Perform to reflect its concerns regarding the stk's 12-month outlook. While current qtr probably okay, 12-month earnings projections appear ambitious; firm believes its Street-low 2003 est of $1.35 (consensus $1.58) could carry additional downside risk given the prevailing lack of visibility and uncertain slope of recovery in key end markets. IRF fighting back though with a press release. 14:34 ET IRF Intl Rectifier reaffirms Q4 outlook (28.25 -9.10) -- Update -- Co states that it expects to meet the June qtr revenue and gross margin guidance provided in its April 25 earnings release and conference call; revenue is expected to be up sequentially 10%, plus or minus a couple of points, and gross margin is expected to be up sequentially about 1%. Let me know when you go long. I expect a bounce on Monday as the Triple Witching pressure will be off. A lot of stock have fallen off a cliff recently. RFMD not under 7. QCOM under 30. AMAT under 20.