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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (2121)	8/6/2002 8:43:54 PM
From: Sarmad Y. Hermiz	Read Replies (2) \| Respond to of 25522

Donald, it is unbelievable to me what non-sense these CEO's go through to justify their theft of shareholder value through options. Options have a value. Many arbitraguers (sp ?) and derivative dealers would be happy to sell Chambers any kind of option he wants. The company can buy these out of the money (hopefully) call options and give them to employees. This would be the cost when issued. And it will not change by one penny over time. However, that method would deprive Chambers of the means to hide the cost of employee compensation and officer engorgement. If Chambers wants to give himself 10 zillion CSCO 15 2005 LEAPS, there is someone who will sell them to the company for a one-time price. And this falsehood of the cost changing from year to year would be exposed as the non-sense that it is. As Gottfried asked earlier, is there an error in my arithmetic here ? This is all aside from the issue that it is none of Chambers' business to give away stock in the company. That is the shareholders' property, and he should keep his hands off it. Sarmad

To: Donald Wennerstrom who wrote (2121)	8/6/2002 9:34:50 PM
From: Proud_Infidel	Respond to of 25522

Tokyo stocks seen rebounding on U.S. comeback TOKYO, Aug 7 (Reuters) - Japanese shares are expected to rebound on Wednesday as a strong comeback on Wall Street and a softer yen are likely to encourage investors to scoop up battered technology issues. "Things all look warm today after the cold, overdone sell-offs yesterday," said Kazunori Jinnai, general manager at Daiwa Securities SMBC's equity department. The benchmark Nikkei average (^N225 - News) fell for a fifth day on Tuesday to close 2.10 percent lower at 9,501.02 after slipping below the psychologically key 9,500 level for the first time in six months. The Nikkei is just a hair away from a year-to-date closing low of 9,420.85 marked in February, which was the lowest close since Japan's asset bubble burst in the early 1990s. On Tuesday, U.S. stocks racked up hefty gains with the blue-chip Dow (CBOT:^DJI - News) rising nearly three percent as investors swept into the market after days of sharp declines, hoping the Federal Reserve may fire off another interest rate cut to shore up the economy. Web gear giant Cisco Systems Inc (NasdaqNM:CSCO - News) extended gains in after-hours trading after it reported higher quarterly earnings, helping send the Nasdaq 100 futures (0#ND:) up more than two percent in early Asian trading hours. Traders said this is another supportive factor for the technology sector in Japan. Japan on Tuesday sought to restore stability to flagging share prices by announcing new restrictions on short-selling, a practice blamed for wild market fluctuations. Effective in September, the new rules will apply to sellers of stocks borrowed via Japan's domestic margin trading scheme and fill a loophole after the Financial Services Agency imposed similar price regulations on another type of short-selling in March. But the new regulations are unlikely to have an immediate impact, traders said, although they may help attract individual investors to equities in the long run. Traders forecast the Nikkei would move between 9,650 and 9,800 on Wednesday. Companies to announce April-June first quarter results include auto giant Toyota Motor Corp (Tokyo:7203.T - News), which releases quarterly earnings for the first time, as well as trading houses Mitsubishi Corp (Tokyo:8058.T - News) and Itochu Corp (Tokyo:8001.T - News). Strong U.S. sales and a weaker yen are expected to have helped Toyota forge a rise in quarterly operating profit of up to 25 percent. STOCKS TO WATCH -- Itochu Techno Science Corp (CTC) (Tokyo:4739.T - News). The computer systems integrator said late on Tuesday its April-June net profit fell nearly 70 percent from a year ago, hit by a curbed corporate appetite for fresh IT capital spending. CTC also cut its full-year targets, eyeing a slump in sales. -- Mitsui & Co Ltd (Tokyo:8031.T - News). Late on Tuesday, Japan's number-two trading house posted an 8.9 percent fall in group net profit to 18.37 billion yen ($151.9 million) in the first quarter with sales off 7.9 percent to 2.92 trillion yen. Mitsui said it would stick to its full-year forecasts despite a slowdown in its energy and info-tech areas, and that U.S. economic conditions had worsened since its forecasts in May. -- Mitsubishi Estate Co Ltd (Tokyo:8802.T - News). Japan's second-biggest property developer said on Tuesday that it had raised its full-year group net profit estimate by more than 50 percent to 33.5 billion yen due to gains from the sale of property to trading house Mitsubishi Corp (Tokyo:8058.T - News). -- Don Quijote Co Ltd (Tokyo:7532.T - News). The discount retailer said late on Tuesday that it will create a section in all its stores to sell items for 50 yen, undercutting the famously cheap 100-yen stores of competitors. As a result of the announcement, shares of Can Do Co Ltd (2698.Q), an operator of 100-yen shops, could face pressure. -- Nissan Motor Co Ltd (Tokyo:7201.T - News). Japan's third-biggest automaker may come under pressure after news on Tuesday that a consumer advocacy group in the United States is urging federal investigators to demand a recall of passenger-side air bags in some of its Altimas because of blinding eye injuries linked to inflation of the safety devices. -- Nippon Meat Packers Inc (Tokyo:2282.T - News). President Hiroji Okoso said late on Tuesday that a unit of the meat processor had mixed imported with domestic beef when applying for a government scheme to purchase domestic meat as a way to help the industry after an outbreak of mad cow disease. ($1=120.95 yen)

To: Donald Wennerstrom who wrote (2121)	8/6/2002 10:50:28 PM
From: Lizzie Tudor	Respond to of 25522

re: cisco options exp Larry Carter also said they would disclose the black sholes calculations in all the financial statements going forward. So it sounds like it isn't going to be directly expensed but investors can perform the calculation if they choose. Personally I prefer this. I agree with Chambers, after seeing almost all of my friends with itm options let them become otm (sometimes seriously) I see no reason to create expenses that don't exist. L edit - Ah! I see you answered the post already with exactly the same thoughts!