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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (17164)	10/8/2002 1:10:48 PM
From: StockDung	Read Replies (1) \| Respond to of 18998

Mr. P$nk always ahead of the curve->RESEARCH ALERT-Goldman cuts IBM 2003 earnings view NEW YORK, Oct 8 (Reuters) - Goldman Sachs on Tuesday cut its earnings estimates for the fourth quarter and next year for International Business Machines Corp. <IBM.N>, but said the top computer company should weather the extended downturn better than most technology companies. In a research note, analyst Laura Conigliaro said she was lowering her estimates for fourth-quarter earnings per share by 6 percent to $1.33 per share from $1.42. For 2003, she lowered her estimate to $4.30 per share from $4.50. The reductions bring her estimates somewhat below Wall Street analysts' average estimates of $1.35 per share for the fourth quarter and $4.43 for 2003, according to research firm Thomson First Call. "IBM ... continues to fare better than most tech co's during the extended slowdown in IT spending, gaining market share and mindshare in a very difficult climate," Conigliaro wrote. "Although we are revising our estimates for the December quarter and full-year 2003 downward, we see the quality of IBM's earnings as continuing to improve as IBM makes headway in each of its key markets." IBM shares closed Monday at $56.80 on the New York Stock Exchange. 10/08/02 11:59 ET Copyright 2002 Reuters Limited.

To: Mr. Pink who wrote (17164)	10/8/2002 1:39:40 PM
From: StockDung	Respond to of 18998

RESEARCH ALERT-Bear Stearns cuts Cisco estimates NEW YORK, Oct 8 (Reuters) - Bear Stearns on Tuesday cut its estimates for Cisco Systems Inc. <CSCO.O>, the No. 1 maker of equipment that directs Internet traffic, citing weak revenue in all major regions. In a research note, analyst Wojtek Uzdelewicz cut his fiscal 2003 first-quarter revenue and earnings estimates to $4.5 billion and 13 cents a share from $4.8 billion and 14 cents, respectively. He cut full-year fiscal 2003 sales and earnings estimates to $18.3 billion and 52 cents a share from $20.2 billion and 56 cents, respectively. Bear Stearns has a "peer perform" rating on the stock. He also reduced his full-year fiscal 2004 estimates to $20.5 billion and 56 cents a share from $22.9 billion and 61 cents. "We believe Cisco is having difficulty making the (first) quarter," Uzdelewicz said in the note. He said Cisco is benefiting from a benign pricing environment and better component pricing, but that has been offset by sales weakness. Uzdelewicz said the stock could fall to $8 a share and recommends caution on the stock in the near term. Cisco's stock was off 39 cents, or 4.5 percent, at $8.67 in morning Nasdaq composite trading. 10/08/02 12:00 ET

To: Mr. Pink who wrote (17164)	10/8/2002 1:41:15 PM
From: StockDung	Respond to of 18998

More Brokerages bow down to Mr. P$nk-> Merrill and Bear lower Cisco estimates (CSCO) By Julie Rannazzisi 9:28am 10/08/02 Merrill Lynch and Bear Stearns became the latest brokerages to slice estimates for Cisco Systems (CSCO) . Merrill cut its fiscal first-quarter revenue estimate and also trimmed its operating earnings-per-share target to 13 cents from 14 cents, citing a still-volatile business environment. Merrill also took down its fiscal 2003 EPS estimate to 56 cents from 60 cents. "Our checks indicate that Cisco has witnessed a slowdown in business starting in mid-September. We believe that this slowdown is primarily related to macro economic conditions that are causing CIOs to delay IT spending," analyst Sam Wilson said. On its part, Bear said: "We are jumping on the bandwagon and lowering our estimates on Cisco. We believe business is likely tracking below plan on the top-line across all major geographies." Bear sliced its fiscal first quarter, fiscal 2003 and 2004 earnings and revenue estimates on the networking titan. Cisco shares were modestly higher in pre-open action.

To: Mr. Pink who wrote (17164)	10/8/2002 10:57:21 PM
From: StockDung	Respond to of 18998

Chartered Rights Offer Leaves Merrill With 16% Stake (Update2) By Paul Scanlon Singapore, Oct. 9 (Bloomberg) -- Merrill Lynch & Co. was left with a 16 percent stake in Chartered Semiconductor Manufacturing Ltd. after underwriting a rights offer by the world's No. 3 manufacturer of custom-made chips. Merrill found buyers for about a 10th of the shares it was hired to sell at S$1 (56 cents) apiece, leaving it with 393 million, Chartered said in a statement. The company's stock fell by half since the sale to shareholders was announced on Sept. 2, closing below the offer price on nine of the past 11 days. Merrill's investment in the chip industry, where demand is yet to recover from its worst year since 1985, underlines the risk faced by securities firms trying to sell stocks and bonds. The Bloomberg Asia Pacific Semiconductors Index is down 50 percent this year, according to Bloomberg data. Chartered's shares yesterday fell to a record intraday low of 88.5 Singapore cents amid concerns among some investors it would miss its forecast for the third quarter. Chartered said it raised S$1.11 billion, helped by state- owned Singapore Technologies Group, which owns 60.5 percent of Chartered and took up its right to 670 million shares. Merrill's spokesman in Hong Kong, Bob Sherbin, declined to comment on what Merrill planned to do with the Chartered stake. Chartered spokeswoman Maggie Tan declined to comment on Merrill being a shareholder in the chipmaker.

To: Mr. Pink who wrote (17164)	10/11/2002 5:17:22 PM
From: Cogito	Read Replies (2) \| Respond to of 18998

Tuesday, October 8, MP said: >>Brethren, ye may short IBM here at 56.70 with impunity. Oh lord He is wise. Mr. P$nk<< NEW YORK (Reuters) - Shares of International Business Machines Corp.(IBM) jumped 11 percent on Friday, helping to buoy the whole market, after Wall Street analysts turned optimistic about the world's largest computer company. The Armonk, New York, company was the second-biggest percentage gainer among blue chip stocks, fueling a 4 percent rise in the Dow Jones industrial average. The technology heavy Nasdaq also was up more than 4 percent. IBM shares, which have fallen more than 50 percent since January, and earlier this week languished near four-year-lows, closed up $6.34 to $63.92 on the New York Stock Exchange. --------------- Woops. There goes my impunity. Proof once again that even the most knowledgeable and wise person is wrong sometimes. But please don't become even the slightest bit humble. That monstrous ego is so charming. ;-) - Allen PS: Please do not construe this post as disrespecting a fine record of correct calls overall. PPS: I do love how you don't capitalize "lord" but you do capitalize the "He" referring to yourself.