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To: 2MAR$ who wrote (59359)	7/7/2002 9:34:41 PM
From: 2MAR$	Respond to of 208838

Hitachi cancels chip line closure on recovery-paper TOKYO, July 8 (Reuters) - Hitachi Ltd <6501.T>, Japan's biggest electronics manufacturer, has cancelled plans to close a chip production line and an assembly and inspection subsidiary due to a recovery in demand, the Nihon Keizai Shimbun said. The newspaper said on Saturday that Hitachi had reversed plans to close one of four production lines at a plant of subsidiary Hitachi Hokkai Semiconductor Ltd on the northern island of Hokkaido due to recovering semiconductor demand. Japan's third-largest chipmaker also called off the planned takeover of its assembly and inspection arm in Yamagata Prefecture by subsidiary Hitachi Yonezawa Electronics Co, the Nihon Keizai said. No one at Hitachi could be reached for immediate comment. Stronger-than-expected demand for microcomputers used for home electronics appliances led Hitachi to alter some of its restructuring plans announced in October, which focused on staff cuts and disposal of excess facilities, the newspaper said. Hitachi posted a group net loss of 483.8 billion yen ($4.03 billion) in the year ended in March, but has forecast a profit of 60 billion yen for 2002/03. ($1=120.10 Yen) ((Tokyo Equities Desk +81-3 5473-3714 tokyo.equities.newsroom@reuters.com)) REUTERS * end of story *

To: 2MAR$ who wrote (59359)	7/7/2002 9:45:08 PM
From: puborectalis	Read Replies (3) \| Respond to of 208838

Telecom and optical network stocks are mentioned as potential gainers since they've been beaten down, according to a pair of Barron's articles. Ross Margolies, manager of the Salomon Brothers Capital fund, lays out his rationale for Lucent (LU: news, chart, profile), Ciena (CIEN: news, chart, profile) and Comverse (CMVT: news, chart, profile) as solid picks based on future growth. Separately, Sanford Bernstein analyst Zhiping Zhao recommends JDS Uniphase (JDSU: news, chart, profile) and Agere Systems (AGRA: news, chart, profile) based on likely needs to build network capacity