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To: Johnny Canuck who wrote (40900)	4/1/2004 11:25:06 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70464

08:03 MU Micron started with an Underweight at JP Morgan (16.71 ) JP Morgan initiates coverage of MU with an Underweight rating due to high valuation and limited cash generation potential; firm notes that the stock trades at 2.4x their CY04 sales est and 8.9x EBITDA, vs peers at 1.7x sales and 12.7x EBITDA; also, with over 95% of its revs from DRAM and over 80% from the PC end-mkt, firm says MU is heavily exposed to a slower-growing end-mkt and faces constant cost pressure from its competitors. 08:02 IACI InterActiveCorp upped to Buy from Hold at Legg Mason, tgt $41 (31.63 ) Firm encourages aggressive purchase of IACI shares. Near term, upside to the co's financial results may be limited by rising hotel prices in major cities, but the price increase is due to seasonal factors in addition to an improving economy, and firm believes that unit volume growth of merchant hotel sales will remain steady or possibly even accelerate in the second quarter of 2004 as seasonal pressures remain subdued compared to the second half of 2003