ONLINE SPORTSBOOKS

Go Back   MajorWager Forums > MW - Online Sportsbooks > Stock Talk
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

Stock Talk Stock tips, opinions and analysis

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 12-10-2003, 10:08 AM
jjgold jjgold is offline
Five Star General
 
Join Date: Jan 2002
Posts: 45,795
Default Tech Report Wednesday

Tech shares closed Tuesday down on average 1.5%. Decliners led advancers 2.9:1 with decliners dropping an average 3.2% and advancers gaining 3.1%. This compares against a decline of 4.12% for the Philadelphia Semiconductor Index (SOXX 478.74 -20.56). Among the 18 large companies that make up the index, shares were down 2.41-5.38%, including Texas Instruments (TXN 27.49 -0.75), which opened very modestly higher but closed down 2.7% despite raising revenue and earnings guidance.

After opening the day flat, tech shares steadily gave up ground until around 11:30am ET when prices stabilized as investors awaited the outcome of the FOMC (Federal Reserve Open Market Committee) meeting. Selling pressure resumed immediately following the Fed's announcement that accommodative policy can be maintained for a "considerable period" (please visit the Fed Brief page for a discussion of the FOMC action) and that the risk of an unexpected decline in inflation is now diminished. Investors interpreted the Fed's pronouncement as a setting of the stage for an eventual increase. Briefing.com continues to believe the Fed is unlikely to raise rates until at least the second-half of 2004 (please visit the Big Picture page for why we think the Fed will sit tight).

We remain modestly bullish on tech over the long-term but concerns regarding valuation will continue to limit advances near-term. With growing fear of a rate increase and valuations already pricing in growth and margins expectations that far exceed actual performance (and for many companies, levels that are unsustainable over the long-term ), the direction of greatest resistance for tech is higher. We would continue to protect gains as opportunities permit
__________________
"JJ Call me a 2'x4' again on the forum and your going to pay" Sportman.
Reply With Quote
  #2 (permalink)  
Old 12-10-2003, 10:08 AM
jjgold jjgold is offline
Five Star General
 
Join Date: Jan 2002
Posts: 45,795
Default

Computer Systems & Peripherals
Hewlett-Packard (HPQ) 21.96 -0.52: The Wall Street Journal reported the co is expected to announce that it is reorganizing the way it sells computers and services to its corporate customers. The move will enable combining H-P's profitable consulting group with the struggling unit that sells computer hardware to businesses. The reorganization, which will reduce H-P's operating divisions to three from four, is expected to be announced on Tuesday at H-P's meeting with financial analysts in New York. Company's HP Services unit, which reported $3.2 bln in revenue for Q4, has won major new service contracts exceeding $1 bln from clients such as Novell, Land O'Lakes and the U.S. Postal Service.

MIPS Techs (MIPS) 5.73 +0.08: Co announced that Genesis Microchip has taken a license for the MIPS32 4KEc core for use in its digital TV applications.

Networking
Cisco Systems (CSCO) 23.23 -1.06: Although Cisco Systems' analyst conference is scheduled to begin tonight at 4 PM PT, CEO John Chambers doesn't speak until 8:10 AM PT tomorrow morning. First Albany expects the meeting to be positive, as the co's execution has been outstanding and the IT buying environment is improving. Firm says investors should focus on how Cisco is trying to accelerate its top-line growth, with the best opportunities being in VoIP, security, wireless, and storage. Firm also anticipates that the co will begin to talk more favorably of its opportunities with service providers, but does not anticipate that mgmt will give any new earnings or rev guidance.

Proxim (PROX) 1.78 +0.15: Co announced that Guangdong Unicom, a provincial subsidiary of China Unicom Limited, has selected Proxim's Tsunami MP point-to-multipoint broadband wireless products to establish China's largest high capacity wireless network, delivering Voice over IP and Internet connections throughout China's Guangdong province.
__________________
"JJ Call me a 2'x4' again on the forum and your going to pay" Sportman.
Reply With Quote
  #3 (permalink)  
Old 12-10-2003, 10:09 AM
jjgold jjgold is offline
Five Star General
 
Join Date: Jan 2002
Posts: 45,795
Default

Internet
Akamai Tech (AKAM) 10.35 -0.63: Offers $175 mln in convertible notes.

China Unicom (OPWV) 11.46 -0.15: OPWV announced that China Unicom has expanded its relationship with OPWV and recently deployed additional licenses of Openwave Mobile Access Gateway (MAG), an interoperable and standards-compliant WAP gateway.

Drugstore.com (DSCM) 5.64 -0.07: Company says it "remains on track with the guidance it previously provided for the fourth quarter" (a GAAP net loss of $2.7-3.2 mln and.revenues of $65-70 mln, vs an R.R. estimate of $69.7 mln). With the Vision Direct acquisition, DSCM expects an additional $2.7-3.0 mln in anticipated Q4 revenue during the last 3 weeks of qtr and sees a "neutral to favorable" impact on projected net GAAP loss, in range of $0-75,000.

InterNAP (INAP) 2.18 +0.07: Co and Hitachi Software Engineering America announced that VTV Japan has joined with Internap, Internap Japan and Hitachi to deliver integrated IP-based videoconferencing solutions between the U.S. and Japan. This latest agreement builds on Internap and Hitachi Software Engineering America's recently announced partnership to deliver IP videoconferencing solutions.

Sina.com (SINA) 31.66 -1.31: Co announced that it has entered into a definitive agreement to acquire Fortune Trip, an online hotel booking company based in Shanghai. After the acquisition, SINA expects Fortune Trip to become a cornerstone of its expanded effort into E- Commerce.

Sohu.com (SOHU) 29.53 -2.69: CFO Derek Palaschuk "has decided he wants to leave SOHU next year". Palaschuk has agreed to remain in his post until a replacement is found.

ValueClick (VCLK) 8.38 +0.66: Before the open, company guided for Q4 EPS of $0.04 vs the Reuters Research consensus of $0.04 (ex items), and revenues of approx $27.0 mln vs an estimate of $25.6 mln; sees Y03 EPS of $0.10, vs the R.R. consensus of $0.10 (ex items), and revenues of $89.5-90.0 mln vs an estimate of $87.7 mln; sees Y04 EPS of $0.19-0.24, vs the R.R. consensus of $0.22, and revenues of $134-138 mln vs an estimate of $114.5 mln. Co also closes its acquisition of Commission Junction.

Semiconductor
Genus (GGNS) 6.17 -0.38: Texas Instruments comments may have positive implications for Genus (OPENX) 6.36 -0.19: Miller Johnson Steichen Kinnard comments that Texas Instruments' increased Q4 guidance was based on strong growth across all of its semiconductor product lines. TXN indicated that strength in wireless products is a significant part of the upside, but added that most major semiconductor lines are expected to show double-digit sequential growth. Importnatly for Genus (GGNS), TXN announced that it would present results demonstrating the viability of a new high-k dielectric material at the International Electron Devices Meeting. The new high-k material that TXN will be demonstrating will be Hafnium Silicon Oxynitride, which it contends would solve the leakage problem associated with using existing silicon dioxide material as dielectric material thickness becomes an issue. Although TXN did not disclose the deposition methodology they would be using for this material Miller Johnson believes A.L.D. could be a candidate. Firm notes that Genus has focused on high-k materials with Hafnium Oxynitride as one of its production worthy films.

Texas Instruments (TXN) 27.49 -0.75: JMP Securities upgraded Texas Instruments (TXN) to Outperform from Mkt Perform after the co raised Q4 guidance during its mid-qtr update; firm believes that the Q4 strength goes beyond mere seasonality and reflects TXN's increasing momentum in 2.5G/3G cell phone DSP processors, chipsets, and analog/mixed signal products, with a good balance between blue-chip OEMs (Nokia, Sony-Ericcson) and emerging OEMs/ODMs in Taiwan and China. Target is $35. Company announced it will present results demonstrating the viability of its new high-k dielectric material at International Electron Devices Meeting. TXN states that its process to integrate Hafnium Silicon Oxynitride (HfSiON) high-k dielectric material in its transistor is a critical development in continuing to deliver the promised improvements of Moore's Law.

Trident Micro (TRID) 25.21 +1.86: CE Unterberg reiterated their Buy rating, raised their FY04-05 ests above consensus, and raises their target range to $27-$31 from $25-$30; firm believes that the Dec qtr is shaping up to be even stronger (up ~60% QoQ) than the co's guidance of 25-35% QoQ growth due to a combination of strong demand for Digital TVs and pull-ins from Q1 resulting from the early Chinese New Year.

United Micro (UMC) 4.89 -0.17: Reported Nov sales up 28.3% yr/yr

Xilinx (XLNX) 34.95 -1.38: Co announced the appointment of Boon C. (B.C.) Ooi to vice president of worldwide operations. Ooi most recently served as vice president of the corporate technology group and director of operations Intel. He replaces veteran Xilinx executive Randy Ong, who is taking a two-year sabbatical after more than 13 years with the company.

__________________
"JJ Call me a 2'x4' again on the forum and your going to pay" Sportman.
Reply With Quote
  #4 (permalink)  
Old 12-10-2003, 10:09 AM
jjgold jjgold is offline
Five Star General
 
Join Date: Jan 2002
Posts: 45,795
Default

Semi Equipment
Cree (CREE) 17.15 +0.11: Raised Q2 (Dec) revenue guidance from previous guidance of $70 mln to revised expectation of $72-73 mln, Reuters consensus is $70.6 mln. Company also sees Q2 earnings above the previous target range. CREE cites "L.E.D. demand has exceeded the previous forecast while the Company has also experienced improved price stability and operational efficiencies" for upside revision. SoundView raised its DecQ estimates following Cree's (CREE) preannouncement; EPS est goes to $0.15 from $0.14 and revs to $73 mln from $70 mln. However, firm says no change to its investment thesis for Cree, which is based on the company likely seeing lower than historical gross margins resulting from a missed product cycle. Furthermore, based on recent trip to Taiwan last week, firm believes the LED market may be overheating; perceived shortages of wireless handset components may be leading to double ordering.

Photronics misses by $0.02, misses on revs (PLAB) 16.84 +0.19: After the close, reported Q4 (Oct) earnings of $0.10 per diluted share, $0.02 worse than the Reuters Research consensus of $0.12; revenues rose 1.6% year/year to $91.5 mln vs the $93.6 mln R.R. consensus and the $94.0 mln First Call consensus.

Software
Autonomy (AUTN) 20.05 +0.10: America Online has chosen Virage, a division of AUTN, to power its video content delivery platform through the AOL Broadband service. AOL will use Virage Application Services to provide content processing for Video@AOL, a new global video hub with a broad collection of broadband content, including news, music, movies, television, sports, local weather, games, travel, and original programming. Video@AOL is a one-stop, on-demand video destination.

BARRA estimate, target cut at JMP (BARZ) 35.00 -0.97: JMP Securities maintained their Underperform rating, cut their FY04 est 3 cents below consensus of $1.75, and cut their target to $35 from $37, as they continue to believe that core revenue estimates for calendar 2004 are overly ambitious and at risk; firm believes that continued weakness in Europe, lower avg subscription sizes, likely reversal of sizable foreign exchange gains, and the uncertainty surrounding the mutual fund scandals are threatening Barra's ability to deliver internal top-line growth much beyond 5%; also, the decision to pay out a one-time dividend, institute a regular quarterly dividend, and reload the share repurchase program seems to telegraph to investors that they should not expect acquisitions to come to the rescue.

BEA Systems (BEAS) 11.48 -0.09: Piper Jaffray upgraded BEA Systems (BEAS) to Strong Buy from Outperform, saying the recent sell-off in the stock is overblown; although firm cautioned that uptake of the new WLP 8.1 product would be gradual, they believe that expectations got ahead of reality and now the stock is being punished for not delivering meaningful impact from 8.1 in Q3; also, recent checks indicate that WLI 8.1 is appearing more frequently on short lists for integration projects, and they expect win rates to improve as more customers go live on WLI 8.1 and can act as references. Target is $16.

eFunds (EFDS) 16.87 -0.36: Co announced today that it plans to switch to the NYSE under the symbol EFD beginning January 2, 2004.

FindWhat.com (FWHT) 16.45 -0.45: Merriman Curhan Ford initiated coverage with a Buy rating and $21 target; firm cited the co's strong value proposition for both advertisers and their distribution affiliates operating in lower-tier segments of the mkt, the co's defensible position in the value chain, and its product and geographical diversification.

NetIQ (NTIQ) 12.62 -0.20: Circuit City selected Webtrends reporting service (NTIQ) 12.82: Co announces that Circuit City Stores, Inc. has selected WebTrends Reporting Service, its Web analytics ASP service, because of its robust and comprehensive e-commerce and campaign management reporting.

NetScreen (NSCN) 24.14 -0.96: Co announced that it has hired Anson Chen as its vice president of research and development. Chen is a 12 year veteran of Cisco Systems and its former vice president and general manager of the Network Management and Services Technology Group.

SCO Group (SCOX) 15.66 +0.39: Co has finalized an agreement with institutional investors BayStar Capital Partners and Royal Bank of Canada, and as previously announced, finalized its amended agreement with Boies Schiller & Flexner LLP. The co's agreement with its institutional investors provides them a right of consent to certain company actions that would entitle the law firms to receive a contingency fee... Briefing.com Note: The co has sued IBM for $3 bln for what SCO claims is its stolen code used in the Linux operating system. In Nov, co said it plans to file suit in 90 days or less against at least one more large company that makes use of Linux.

Telecom Equip
ECI Telecom (ECIL) 6.41 +0.52: Making a new 52-week high today is ECI Telecom, a maker of networking gear. This Israel-based co has been announcing a number of international deals lately. In just the last week, the company announed that the Tata Group and one of India's leading CDMA mobile carriers, will deploy ECI's MultiService Provisioning Platforms within its optical transmission access and backbone network. Also, the co announced that China Unicom has deployed its platform within its Beijing Branch... While the co reports a loss per share, it has generated positive cash flow from operations for the past 10 quarters as telecom carriers are slowly beginning to increase cap-ex spending. The co now has $214.6 mln in cash/inv, or about $2 per share, with almost no long term debt. The stock trades just over its book value of $5.48/sh.

Qualcomm (QCOM) 48.44 -0.78: Co and America Online announced an agreement for the distribution of America Online's content and applications across QUALCOMM's Binary Runtime Environment for Wireless (BREW) platform. With the BREW distribution and publishing system, America Online will make its most popular applications available to millions of BREW users in the United States

Vyyo (VYYO) 7.45 +0.59: Co announced that Shanghai Mobile Communications Co., a subsidiary of China Mobile, has selected Vyyo for the deployment of its broadband wireless access solutions in Shanghai. Vyyo's system integrator and OEM Shanghai Datang Mobile Communications Equipment Co., Ltd. secured the deal.

Telecom Services
Centurytel (CTL) 30.17 -0.75: Prudential downgraded Overweight to NEUTRAL. Target $40 to $32. Believes that issues of Universal Service Fund and intercarrier compensation reform will be complex and could take a year to resolve.

Time Warner Cable (TWX) 16.48 -0.01: UBS reports that Time Warner Cable will utilize Sprint and MCI's backbone to provide VoIP services, potentially expediting its plans to roll out telephony throughout its region. The firm believes VoIP deployments by the larger cable MSOs to be the largest threat to Bell fundamentals over the next 5 years. The firm believes that this announcement signals that AT&T will see increasing competition in the wholesale market, the fastest growing part of its business segment, however, it should have little impact on Sprint or MCI's near term financials. SBC and BellSouth have the most exposure to Time Warner's markets.... Another UBS analyst, who atteneded the Western Show, says VoIP will be much bigger in 2004, led by Time Warner. He views Cisco, Motorola, Arris, Siemens, Cedar Point, Syndeo and Nuera as some of the likely beneficiaries of cable VoIP deployment. The Wall Street Journal reported TWX's cable division now expects to offer the service to almost 18 mln households that could be connecting to its cable systems by the end of the year. According to the article, the move is the latest boost for the technology known as voice over Internet protocol, or VOIP. As part of its announcement Monday, TWX said it has cut deals with FON and M.C.I. to carry long-distance traffic and provide other services that include connections between cable systems and local phone lines.

Verizon (VZ) 32.59 -0.42: After the close, co estimated that it expects to record an after-tax Q4 (Dec) charge of apprx $2.8 bln ($0.99 per share), associated with a voluntary separation plan under which 21,260 employees left the payroll this quarter. Apprx $1.1 bln of this charge involves cash severance payments and related costs associated with the voluntary separation program. The remainder represents co's pension and post-retirement benefits costs. In addition, the co expects to record a charge related to pension settlements of $0.7 -$0.9 bln, after taxes, mostly in Q1 (Mar) of Y04.
__________________
"JJ Call me a 2'x4' again on the forum and your going to pay" Sportman.
Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -4. The time now is 08:27 PM.

Please be advised that if you are wagering over the internet, this is illegal in many jurisdictions. A wagering site may be operating legally at their location but it may still be illegal for you to wager from your location. We suggest you check on the legal situation from any jurisdiction in which you may wager.
 

Search Engine Optimization by vBSEO 3.0.0 RC6