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

To: acuransx_2000 who wrote (89600)	7/2/2002 8:50:38 AM
From: Jack T. Pearson	Read Replies (1) \| Respond to of 99280

There are a lot of companies out there whose only hope of survival was a turn-around in business investment this year. They have negative cash flow and very little cash left. As cash flow drops, it gets harder to service their debt, and that makes things worse. That turn-around in business investment isn't happening. Eventually it will burn out--either quickly or slowly, but it will burn out. 7:59AM Dell Computer sales estimate trimmed at Merrill Lynch (DELL) 25.16: Merrill Lynch says that in light of the continuing weakness in global IT spending, they are reducing their 2002 worldwide PC unit growth forecast to +2.5% from +10.5%, implying a decline in industy rev of 6.7% for the year; based on this, firm cuts DELL's FY03 rev est to $34.2 bln from $35.0 bln. 7:54AM Cisco Systems, Extreme Networks estimates cut by Solly (CSCO) 13.09: -- Update -- Salomon Smith Barney says that field checks indicate a premature flattening of demand into late June, when it should have been accelerating into the seasonally stronger month; believes soft conditions in the U.S. suggests results will come in at the low-end of CSCO's guidance suggesting a 1% rev increase and barely a 1.05 Book-To-Bill. Cuts CSCO's FY03 rev est to $20.8 bln from $21.4 bln, and cuts EXTR's FY03 rev est to $504.5 mln from $523.8 mln. 7:40AM Morgan Stanley cuts estimates for semi equipment co's : Morgan Stanley cuts semi capex forecasts for 2002 to -20% from -15% and for 2003 to +20% from +30%, saying they believe that the recovery is still underway but that consensus numbers suggest unrealistic growth; cuts price targets and/or estimates for AMAT, CYMI, AEIS, ACLS, DPMI, KLAC, KLIC, LRCX, LTXX, NVLS, PLAB, TER, VSEA, CMOS, EGLS, and MTSN.