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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Big Bucks who wrote (24175)	9/11/1998 10:13:00 PM
From: akidron	Read Replies (1) \| Respond to of 70976

this from street life exposes the madness of number massage... and the dangers 0f continuing to play the buy on the weakness game. NUMBER GAMES.... So Intel closed up $5 7/8, at $84 15/16, following its positive preannouncement last night. Gruntal upped its earnings estimates for Intel; Warburg Dillon Read raised its rating from "hold" to "buy." No word from Kurlak The Grinch. But we all know who's really happy. Nelson, of course. Nelson says he's "like, SO excited." But Intel is still expected to earn less--some 20% less--this year than it did in 1997. Does that really justify a PE multiple of 26? While we're naysaying, let's pick on Oracle, too. Oracle soared $3 3/8 today after announcing that it beat analysts' estimates by 4 cents! Yay! But the 20 cents a share that Oracle reported is LESS than the 27 cents a share Oracle was supposed to earn this quarter BEFORE it guided estimates downwards a few months ago. Oh well. Goldman upgraded Oracle to "market outperformer"; the Pru went from "accumulate" to "strong buy"; Merrill went from "near term accumulate" to "near term buy." But Everen DOWNGRADED Oracle to an "immediate term market perform." Hmmm. Maybe the source of the disagreement is that the immediate term is not the same as the near term. "sometimes it hurts to even laugh"