Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (6150)	10/14/2002 9:18:14 AM
From: michael97123	Respond to of 95480

OOPS!

To: Cary Salsberg who wrote (6150)	10/14/2002 9:37:32 AM
From: Return to Sender	Read Replies (2) \| Respond to of 95480

From Briefing.com: TXU TXU Corp downgraded at Morgan Stanley (18.75) -- Update -- Morgan Stanley downgrades to UNDERWEIGHT from Equal-Weight based on the belief that TXU's $2.6 bln bank-line drawdown (see Friday's 5:36 comment) signals that it sees potential for about $1 bln in claims against the parent if TXU Europe is downgraded to junk; estimates at least $1.5 bln in new equity is needed to stabilize TXU's balance sheet. IBM IBM estimates cut at Morgan Stanley (63.92) Morgan Stanley believes that IBM did not experience the normal pickup in hardware orders in the last few weeks of the qtr, and that Microelectronics remains a wildcard; cuts 2002 est to $3.80 from $3.82 and 2003 to $4.05 from $4.25 (below consensus of $3.93 and $4.41). Soundview cuts estimates for Linear Tech & Maxim Integrated Soundview believes that consensus ests for LLTC and MXIM could come down following the cos' conference calls in order to reflect a more gradual 2003 recovery; cuts LLTC CY03 rev/EPS ests to $656 mln/$0.81 from $725 mln/$0.94, and cuts MXIM CY03 ests to $1.3 bln/$1.08 from $1.4 bln/$1.21. MRVL Marvell downgraded at Wachovia, defended by Thomas Weisel (13.76) Wachovia downgrades to BUY from Strong Buy due to the increased uncertainty surrounding the potential impact on MRVL's 2003 earnings from INTC's upcoming gigabit ethernet controller (note that firm had defended MRVL on Friday). Separately, Thomas Weisel says MRVL is oversold on the INTC news; believes sales to INTC should increase in CY03, while new gigabit ethernet and storage customers could deliver upside to current ests. 7:44AM S&P futures vs fair value: -5.9. Nasdaq futures vs fair value: -11.0. Seeing some additional deterioration in the futures as Bali bombing provides the catalyst for profit taking after last week's big gains; relatively quiet on research front today aside from Merrill's downgrades of auto stocks. Note that the bond market is closed today for the Columbus Day holiday. 7:43AM Merrill Lynch downgrades select auto stocks : Merrill Lynch downgrades F, GM, DCN, and DPH to NEUTRAL from Buy to reflect worsening auto industry fundamentals; believes continuing deterioration in new and used car prices is an increasingly strong headwind raising the risk of further margin compression for these co's, which have both high operating leverage and constrained financial flexibility. 7:40AM Travel stocks impacted by Bali bombing : The bombing in Bali has depressed prices of airlines and travel agents in European trading; likely to see some impact on US stocks as well, with airlines potentially impacted as well as travel related stocks such as EXPE and ROOM. 7:27AM ADTRAN beats by two cents (ADTN) 21.01: Reports Q3 (Sep) earnings of $0.27 per share, $0.02 better than the Multex consensus of $0.25; revenues fell 7.7% year/year to $88.2 mln vs the $88.0 mln consensus. 7:24AM Tyco audit to determine whether co is in violation of debt covenant - NYT (TYC) 13.64: The New York Times says that depending upon how auditor Pricewaterhouse assesses TYC's enormous amount of goodwill and other intangible assets on its balance sheet, TYC could be in violation of a covenant on some recently negotiated bank debt. 7:23AM B of A raising equity weighting : Banc of America Securities strategist Thomas McManus raises the equity weighting in his model portfolio to 70% from 65% while reducing bonds to 20% from 25%; says last week's reversal indicates that the bottoming process has entered a new phase finance.yahoo.com^SOXX+ADTN+ALTR+AMAT+AMD+BRCM+DCN+DPH+EXPE++F+GM+IBM+INTC+KLAC+LLTC+LSCC+LSI+MOT+MRVL+MU+MXIM+NSM+NVLS+ROOM+TER+TXN+TXU+TYC+XLNX+^VIX+^IXIC&d=t RtS