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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (17307)	6/26/2002 8:30:51 AM
From: JakeStraw	Read Replies (1) \| Respond to of 19080

>>Sort of puts the Halo on Orcl Oh, how do you figure that?

To: robert b furman who wrote (17307)	6/26/2002 9:48:59 AM
From: MeDroogies	Respond to of 19080

FWIW...not that I give this stuff much credit. But Barton Biggs has been extraordinarily bearish...why would he be changing? RESEARCH ALERT-Morgan Stanley ups tech, financials NEW YORK, June 26 (Reuters) - On a day when it looked like technology stocks will face considerable fire, Morgan Stanley on Wednesday advised its clients to increase their exposure to technology and financial stocks based on valuation. In a report entitled "Rearranging Sector Chairs (On the Deck of the Titanic?)," Morgan analysts advised clients they had raised their technology and financials weightings from "underweight" to "market weight" and reduced their "overweight" in consumer discretionary to "market weight." They maintained their "overweight" positions in energy, health care, industrials, and materials; their "underweight" positions in staples and telecom, and their "market weight" position on utilities. The firm said it was changing its ratings based on the battered valuation of tech and financial stocks "Given a continued collapse in stock prices we no longer believe the risk reward of being underweight in the tech sector is compelling," Morgan Stanley said. "With the sector now basically trading at its long term average price to sales ratio, short interest outsized relative to the capitalization, and an inflection in revenue declines having already occurred, an market weight seems more appropriate." Among the tech stocks the firm identified as "interesting" for investors were Hewlett-Packard Co. (NYSE:HPQ - News), Oracle Corp. (NasdaqNM:ORCL - News), Texas Instruments (NYSE:TXN - News) and Motorola Inc. (NYSE:MOT - News). On the financial side, it mentioned American International Group (NYSE:AIG - News), Citigroup Co. (NYSE:C - News) and Goldman Sachs Co. (NYSE:GS - News).