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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (54012)	7/22/2002 10:35:16 AM
From: stockman_scott	Respond to of 65232

08:27 ET Amazon.com poised to beat estimates, raise guidance-- Piper Jaffray (AMZN) 15.29: USB Piper Jaffray says they would be buyers of AMZN ahead of their Q2 earnings announcement based on the belief that the co is poised to beat ests and that margin expansion is likely; also, firm expects co to increase its guidance for the rest of 2002; raises Q2 rev/EPS ests to $807.5 mln/($0.04) from $796.3 mln/($0.06), above consensus. 08:16 ET June semi equipment book/bill edges higher : The June semi equipment book/bill ratio was released late Friday - the ratio edged up to 1.28 from a revised 1.27 in June. Most brokerage firm comments on the data are pretty neutral - noting that the numbers were slightly better than expected, but that the focus is on earnings right now. 08:11 ET BellSouth misses qtr; lowers full yr guidance (BLS) 27.61: Posts Q2 normalized earnings of $0.53 a share, $0.04 below the Multex consensus of $0.57. The results include bad debt expense of $255 mln or $0.05 per share. For 2002, sees normalized EPS of $2.13-$2.20 (consensus $2.34). 08:03 ET Procter & Gamble to repurchase shares (PG) 74.46: Intends to increase its level of stock purchases in the 2002-03 fiscal year under its previously announced share repurchase program. PG said it remains confident about its business and will use its free cash flow to repurchase shares on a discretionary basis. 08:02 ET UBS upgrades select household products stocks : UBS Warburg raises their Household Products sector weighting to Overweight from Mkt Weight due to valuation and positive sector fundamentals; says volumes are healthy, raw material costs appear benign through the calendar year, competitive pressures remain limited, and recent Euro/Yen strength is a positive sectorwide; upgrades PG to STRONG BUY from Buy, G to STRONG BUY from Hold, and ACVA and CLX to BUY from Hold; reiterates Strong Buy ratings on EL and CL.