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.

Strategies & Market Trends : Gorilla and King Portfolio candidates - Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (314)	11/5/2003 11:36:48 PM
From: Eric L	Read Replies (2) \| Respond to of 2955

Crisco Mo and da strict valuationists ... Frank, << Careful. In the next 24 hours some valuationist will come up with an analysis showing they actually lost money, marketshare, and their virtue. >> LOL! It will be interesting to see how the market reacts tomorrow to this evening's CSCO (and QCOM) earnings report and CC. So far so good. I was certainly pleased with both. CSCO traded 86.96 million shares today and closed up + 0.22 (+1.02%) at $21.80 just short of its 52 week high of $21.85. I'm always leery of after hours reaction when earnings are announced after the closing bell but CSCO traded a whopping 19.38 million shares after hours closing at $23.02 (+$1.22). QCOM traded 13.57 million shares today, above its average daily volume, and closed down -$0.73 (-1.54%) at $46.59. It made back most of today's loss after hours trading 1.364 million shares after hours closing at $47.28 (+$0.69). I'm always leery of after hours reaction when earnings are announced after the closing bell but CSCO traded a whopping 19.38 million shares after hours closing at $23.02 (+$1.22), $.135 off its 52 week high of $48.63. Briefing.com had this to say on your G&K Superbowl contenders: >> Market Report -- Story Stocks (CSCO, QCOM) November 05, 2003 6:21:00 PM ET Wednesday After Hours price levels vs. 4pm ET: The after hours trade has taken off, fueled by encouraging earnings pronouncements from leading tech names such as Cisco Systems (CSCO 23.02 +1.22) and Qualcomm (QCOM 47.09 +0.05). Presently, the S&P futures, at 1053, are 2 points above fair value, while the Nasdaq 100 futures, at 1442, are 11 points above fair value. Shares of Cisco have jumped 6% following the manufacturer of networking and communications products's better than expected 1Q04 (Oct) report and Q2 (Jan) revenue outlook. Cisco reported EPS of $0.17, which were $0.02 ahead of the Reuters Research consensus estimate, and revenues that rose 5% to $5.10 bln (consensus of $4.85 bln). The company went on to guide Q2 revenues to up 1-3% sequentially, to approximately $5.15-5.20 bln versus the consensus of $5.04 bln. Management also said that gross margins shoud be approximately 67-69%. Other telecom equipment stocks such as EXTR, PMCS, AMCC, SONS, JDSU, CIEN, and FDRY have received a lift from the news. Qualcomm stock has also moved higher in the extended session following its 4Q03 (Sept) report. The wireless communications company met Wall Street's consensus net income forecast of $0.29 per share, and put its 1Q04 (Dec) outlook at $0.37-0.40 for EPS and revenues at up 16-22% sequentially (about $1.01-1.06 bln), both of which were above the consensus estimates. Qualcomm also guided FY04 EPS to $1.37-1.43 (consensus of $1.38) and revenues to up 5-9% year/year (about $4.2-4.4 bln versus the consensus of $3.91 bln). << Right now things are looking pretty good. Let us see what tomorrow brings. This could set the stage for that traditional November/December Nasdaq rally. - Eric -