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To: stockman_scott who wrote (65990)	9/17/1998 5:01:00 PM
From: jhg_in_kc	Read Replies (2) \| Respond to of 176387

Merrill Forecasts Move From PCs To Simpler Devices should we worry? jhg NEW YORK (Dow Jones)--Merrill Lynch & Co.'s technology analysts issued a report Thursday that forecasts an eventual move away from the personal computer as the industry's focal point. The report, which summarizes a larger document being sent to clients, lists 11 technology trends and 22 stocks that should benefit from them. The firm said it sees a shift in the industry away from personal computers as the driver of computer-hardware growth. In semiconductors, there will be a move from PC-centric chips toward those that power communications devices, according to the report. Broadcom Corp. (BRCM) and PMC-Sierra Inc. (PMCS) are among the companies Merrill Lynch projects will benefit the most from this shift. Further, according to the report, the next hardware category will be appliances, "representing a shift from general-purpose to specialized computing." Network Appliance Inc. (NTAP) and Sun Microsystems Inc. (SUNW) are two companies that will benefit here, according to the report. Tough times in the chip equipment industry will likely result in consolidation, especially given the low valuations of some of the smallest companies in the sector. Brooks Automation Inc. (BRKS) is one company likely to benefit from this trend, Merrill Lynch said. Some of the industry's best-known names are missing from Merrill Lynch's list: Dell Computer Corp. (DELL) and Intel Corp. (INTC) are two notable absences. Steve Milunovich, the enterprise hardware analyst, said the firm is still bullish on some stocks that weren't included in the report, which focused on big-picture issues. The Merrill Lynch report forecasts that data traffic will come close to exceeding the amount of voice information traveling across networks by 2003. The firm sees strong demand for telecom equipment for the next few years and projects that mergers and acquisitions in the sector should accelerate this fall. Stocks that could benefit include Cisco Systems Inc. (CSCO) and Lucent Technologies Inc. (LU). The firm said it is still enthusiastic about potential growth in the Internet space, with growth likely in e-commerce and on-line health-care companies. Internet-related companies mentioned in the report include America Online Inc. (AOL), Microsoft Corp. (MSFT), Galileo International Inc. (GLC), Sterling Commerce Inc. (SE), Cerner Corp. (CERN) and IDX Systems Corp. (IDXC). In enterprise software, the firm sees a shift toward programs that enhance manufacturing and delivering goods and services. Two companies likely to benefit here include i2 Technologies Inc. (ITWO) and Oracle Corp. (ORCL), the report states. The firm sees a transformation in the electronics equipment supply chain, aiding Molex Inc. (MOLXA) and Solectron Corp. (SLR). Merrill Lynch claims that services will become the "ultimate value-added segment" of the technology field. Companies likely to benefit include Computer Sciences Corp. (CSC) and Ciber Inc. (CBR), the report said. Merrill Lynch also sees consolidation in the mechanical design software space, mentioning Structural Dynamics Research Corp. (SDRC) and Visio Corp. (VSIO) as two likely winners. - Christopher Grimes; 201-938-5253

To: stockman_scott who wrote (65990)	9/17/1998 7:18:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

Ref:US economy- Feguson see "balaced" risks. Scott: Thanks for that report,I do particularly like the bit about 'blow out' quarter,can always use one of those can't we.<g> =============================================== Thursday September 17, 3:15 pm Eastern Time Ferguson sees ''balanced'' risks for U.S. economy KANSAS CITY, Mo., Sept 17 (Reuters) - Federal Reserve Governor Roger Ferguson said on Thursday the risks for the U.S. economy were balanced between inflation and the threat of a sharp slowdown. ''I do see the risks are balanced,'' he told reporters following a speech here. ''Earlier this year, I was worried more about inflation, but the risks are much more evenly balanced now.'' He said, however, that nothing was etched in stone and that the Fed would be looking very carefully at all incoming data to evaluate the appropriate course of monetary policy. ''It's important to be as forward-looking as possible,'' he said, adding it was important to recognize that ''monetary policy takes time'' to affect the real economy. He reiterated Greenspan's comments on Wednesay that the Group of Seven rich nations were not planning a coordinated interest-rate cut to spur world growth and stem the spreading financial problems. ''I think what the chairman said was that there were no current plans for coordinated action, but that does not preclude individual central banks from taking actions they think are appropriate based on the evidence that they see and the risks as they see them,'' he said.