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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (38090)	8/27/2002 12:36:15 PM
From: Johnny Canuck	Respond to of 68115

9:30 ET Semi capex expected to decline 22% - IC Insights Digitimes.com reports that overall capex in the global semi industry this year is estimated to decline 22% YoY, larger than the previously-predicted decline of 15-22%, according to IC Insights. 08:08 ET UTSI UTStarcom cut to Neutral from Outperform at Solly (14.50) Salomon Smith Barney downgrades to NEUTRAL from Outperform based on 1) global wireless outlook continuing to look challenging, 2) the uncertainty of the wireless market in China, and 3) the overhang of China Telecom's IPO. Also expects focus to remain on issues such as Softbank share lockup coming off 8/27. Firm believes these factors may lead to an increase in stock volatility over the near term. New target price is $15, down from $25 07:25 ET INTC Intel sees modest sequential earnings growth (18.13) Reuters reports that CEO Craig Barrett told a news conference that the company sees modest growth in Q3 over Q2 and that it hasn't "seen much improvement in the computing environment because companies are not investing." (Current Q3 consensus is $0.13. Excluding certain items, INTC earned $0.11 in Q2)... Also, in an interview with Bloomberg television, Barrett indicated that he was not confident a holiday season uptick would materialize this year. 18:43 ET DY Dycom misses Q4 estimates (10.95 +0.73) Reports Q4 (Jul) earnings of $0.06 per share excluding charges, $0.04 worse than the Multex consensus of $0.10; revenues fell 23.9% year/year to $148.2 mln vs the $152.0 mln consensus. [Harry: I wonder how strong overall cable demand is. Most of DY revenues are cable master service contract. It is true that DY is limited to certain parts of the country though.] 18:08 ET GNSS Genesis Microchip announces stock repurchase (8.64 -0.06) Company's Board of Directors approves stock repurchase program, authorizing repurchase of up to $25 mln of Genesis' common stock. 11:48AM Gartner sees stabilization in mobile phone industry (NOK, MOT, SI) by Tomi Kilgore Analysts at research and advisory firm, Gartner Dataquest, said there were indications that the mobile phone industry had stabilized and is positioned for stronger growth as mobile terminal manufacturers are preparing for a transition to color displays and data-enabling technologies in the second half of 2002. Gartner added that second quarter global mobile phone sales increased 0.8 percent over the same period a year ago to 98.7 million units. "The frenzy of marketing activity around new services such as picture and photo messaging by mobile network operators in Western Europe is likely to fuel replacement demand for color mobile phones in the second half of 2002," said Ben Wood, a senior analyst at Gartner. The firm added that Nokia (NOK) maintained its market share lead, followed by Motorola (MOT), Samsung and Siemens (SI). 8:11AM JDS to benefit most from optical industry contraction (JDSU, INTC) by Tomi Kilgore Analyst Zhiping Zhao at Sanford Bernstein believes JDS Uniphase (JDSU) will be the biggest long-term beneficiary of the recent drop-off in optical components players. Another company that Zhao thinks may potentially be a major player in the industry over the long term is Intel (INTC), which has "shown ambition" to compete in the communications business. "We believe [Intel] could be a credible competitor in 3 to 4 years if it continues to acquire companies in the components space," Zhao said in a note to clients. JDS is slipping 9 cents to $3.21 and Intel is shedding 51 cents to $17.62 in pre-open trading Tuesday. 6:18AM Toll Bros.' Q3 earns fall but top expectations (TOL) by Tomi Kilgore Toll Brothers (TOL) reported fiscal third-quarter earnings that declined from year-earlier levels, due to slower demand and post-Sept. 11 contract declines, but exceeded the consensus analyst expectation. Net income for the quarter ending July was $53.5 million, or 70 cents a share, down from last year's $59.4 million, or 77 cents a share. Analysts surveyed by Thomson Financial/First Call had been expecting earnings of 65 cents a share, on average. Revenue for the period fell 1.4 percent to $565.4 million. Backlog for the quarter rose 21 percent to $1.9 billion. The homebuilder's stock closed Monday up 85 cents at $26.75.