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

To: Donald Wennerstrom who wrote (7026)	11/22/2002 2:53:42 AM
From: augieboo	Respond to of 95564

Thanks Don. Great thread you've got here! (: eom

To: Donald Wennerstrom who wrote (7026)	11/22/2002 9:05:52 AM
From: Return to Sender	Respond to of 95564

From Briefing.com: 8:38AM Computer Assoc upgraded at First Albany (CA) 15.12: First Albany upgrades to Buy from Neutral, saying their own checks and some feedback from META Group about CA's infrastructure mgmt, development tools, and portal products suggest that CA is doing better; raises FY04 rev/EPS ests to $3.21 bln/$0.30 from $3.14 bln/$0.23. Price target is $18. 8:34AM Fulcrum downgrades CSCO/EXTR : Fulcrum downgrades Cisco (CSCO 15.24) to SELL from Neutral; cites concern that revenue growth in rest of 2003 and 2004 will not be sufficient to offset the impact of declining gross margins; sets 12-month target of $11. Also downgrades Extreme (EXTR 5.11) to SELL from Neutral, citing continued market share loss, additional pricing pressures, and lack of operating leverage. 8:28AM ATI Tech cut to Hold at UBS -- valuation (ATYT) 7.91: UBS Warburg downgrades to HOLD from Buy as stock has rebounded 48% in the last 2 months and moved within 1% of firm's price target. 8:19AM Wachovia downgrades select wireless equipment stocks : Wachovia downgrades RFMD, SWKS, and TQNT to Hold from Buy and downgrades ANAD and ERICY to Sell from Hold; firm says their survey indicates that demand in the U.S., Europe, and South Korea was down sequentially, and overall demand appears to have dropped as precipitously as it did this time last year, which presaged a weaker-than-expected Christmas selling season 8:11AM Verizon initiated with Sell rating at Deutsche (VZ) 40.64: Deutsche Securities initiates coverage with a Sell rating, saying they remain concerned that the current mkt ests for 2003-04 are unlikely to be attained; firm believes co is likely to report declining earnings through 2003-04, citing: 1) UNE-P pressure is likely to escalate through 2003-04, 2) firm does not believe data biz will rebound strongly over the next 12-18 months and the longer term as well, and 3) firm anticipates a major reversal of pension surpluses and a further rise in post-retirement obligations. DCF valuation is $34.80. 8:04AM Siebel and Peoplesoft downgrade details : Salomon Smith Barney downgrades SEBL and PSFT to Underperform from In-Line; given current valuations and the their view that software co's are not likely to beat Q4 license rev ests by a significant margin, firm believes that investors will be disappointed by the likely scenario that FY03 ests remain the same or drift lower; cuts PSFT FY03 rev/EPS ests to $494 mln/$0.57 from $533 mln/$0.59, but leaves SEBL ests unchanged; although stocks could continue to move higher over the next 4-5 weeks, firm would use this opportunity to reduce positions. 8:04AM Adobe Systems downgrade details (ADBE) 30.20: -- Update -- WR Hambrech downgrades to SELL from Hold; says ADBE currently trades at a valuation from which they have fallen significantly in the past; thinks disappointing guidance may be the catalysts to drive shares downward; believes the impact of channel clearing in Q1 will make for an unusually weak qtr. Price target $21. 7:25AM ADC Telecom expects to be taken out of Nasdaq-100 (ADCT) 2.44: After recent discussions with the Nasdaq, ADCT believes that it will be removed from the Index. Nasdaq is expected to issue a news release on Dec 13 regarding its list of additions and deletions from the Index. Approx. 25.5 mln ADC shares were held by the NASDAQ-100 Trust on Oct 31. 7:22AM Adobe Systems cut to Sell at WR Hambrecht; target $21 (ADBE) 30.20: 7:16AM Cisco Systems: expensing options would have cut earnings by 60% (CSCO) 15.24: The Wall Street Journal reports that CSCO's Q1 net income would have been reduced by 60% had the co treated stock options as an expense, according to the co's latest 10-Q. 7:15AM McDATA cut to Underperform at RBC (MCDT) 8.85: 7:04AM NVIDIA cut to Reduce from Hold at UBS (NVDA) 16.14: 7:03AM Brocade cut to Underperform from Outperform at Solly; target $5 (BRCD) 7.28: 7:02AM PSFT and SEBL cut to Underperform at Solly finance.yahoo.com^SOXX+ADCT+ADBE+ALTR+AMAT+AMD+ANAD+ATYT+BRCM+BRCD+CA+CSCO+ERICY+EXTR+INTC+KLAC+LLTC+LSCC+LSI+MCDT+MOT+MU+MXIM+NSM+NVDA+NVLS+PSFT+RFMD+SEBL+SWKS+TER+TQNT+TXN+XLNX+VZ+^VIX+^IXIC+^SPX+SMH&d=t RtS

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