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09:48 ET Revised June Michigan Sentiment at 89.7 vs consensus of 87.2
11:13 ET Ex-Symbol Tech exec to plead guilty to fraud charges -- Dow Jones
Here's the spin on the B To B. Russ
08:21 ET Goldman Sachs comments on Semi Equip Book-to-Bill
May book-to-bill of 0.89 was below the Goldman Sachs 0.91 estimate and slightly above the Street estimate of 0.88. Following the report, Goldman Sachs is reiterating its Attractive coverage view on group and believes that 6-9 month investors should be overweight the group due to increasing signs of cyclical growth beginning in Q3 and still reasonable valuations as per firm's normalized free cash flow based analysis.
08:33 ET S&P futures vs fair value: +4.8. Nasdaq futures vs fair value: +9.5.
Futures trade strengthens on the heels of the 6% rise in May Housing Starts and the slight increase in May core CPI that has helped dispel fears about deflation... As such, the indices are set for a moderately higher open, aided by further dollar strengthening and PFE's raised FY04 (Dec) guidance.
08:32 ET Economic Data
CPI for May was reported at unchanged vs consensus of -0.1%; core CPI (excluding food and energy) at +0.3% vs consensus of +0.1%. Housing Starts jumped 6.1% to 1.732 mln vs the consensus of 1.70 mln with Building Permits up 3.7% to 1.788 mln vs consensus of 1.723 mln.
George. I'm certainly no expert but I think this article, which has more info than the one you posted, answers a couple of your questions. It would appear full approval could take up to a year, and actual sales would be another year down the road. Hope this helps. Russ
http://biz.yahoo.com/djus/030612/1444001059_2.html
Dow Jones Business News
NexMed Shares Higher on Positive Impotence Cream Trials
Thursday June 12, 2:44 pm ET
By Amy Braunschweiger
NEW YORK -- NexMed Inc.'s shares set a second straight 52-week high Thursday after two Phase III studies showed its erectile-dysfunction cream, Alprox-TD, effective.
Kenneth Anderson, NexMed's vice president of commercial development, said the company plans on filing a new drug application for Alprox with the Food and Drug Administration (News - Websites) in the first half of 2004.
Alt Text
But first, the pharmaceutical and medical-technology company will initiate a long-term study of the product, beginning "almost immediately," Mr. Anderson said. The long-term study will last a year, but the company can begin to submit information to the FDA after only six months.
If approved by the FDA, NexMed expects the cream to hit shelves 12 months later, company representative Deborah Carty said. The Robbinsville, N.J.-based company is in talks with "about a dozen" large and mid-sized pharmaceutical companies to help it market Alprox-TD.
"Certainly (the companies) will look upon these results as very favorable," Ms. Carty said about the Phase III trials.
In afternoon trading on the Nasdaq National Market, shares of NexMed jumped 80 cents, or 31%, to $3.40. Earlier, shares rose as high as $4.23, above a 52-week high of $3.14 set Wednesday.
Earlier Thursday, NexMed said the cream showed a "highly significant" increase in erectile function.
NexMed's cream hasn't been compared with oral medications for erectile dysfunction, Ms. Carty said.
The cream, however, begins to work between 10 minutes and 15 minutes after it is applied, while pills can take two hours to begin working.
"It's truly an on-demand product," Ms. Carty said.
In addition, men taking nitrate medications, such as heart medication, also can use the cream. Taking medication containing nitrates isn't recommended for patients using erectile-dysfunction pills. The cream is safe to use with a condom, Ms. Carty said.
- Amy Braunschweiger, Dow Jones Newswires; 201-938-2205; amy.braunschweiger@dowjones.com
Bearmove. Checked out TSA. I like what I see and entered the stock also. Your calls have been a big help. Much thanks.
Russ
Thanks Joe. I was kind of hoping the original numbers were correct, and showed some sense coming back into the housing market. But this is the hot season. Have a good one.
Russ
Joe. That would make more sense. If I come across anything I'll post it.
Russ
"The industry group's index of demand for loans to refinance rose to 8,840.9, up 5.9 percent from the prior week., Its seasonally adjusted gauge for loan applications to buy a home stood at 359.7, little changed from previous week's 395.8."
Wow. Unless my math is worse than I thought, the index for applications to buy homes fell about 9 to 10% from 395 to 359. That's a heck of a lot more than 'little changed'. Somebody doesn't want to acknowledge that the purchase of homes may be past its peak.
Russ
WIND. Got hammered today on earnings report. Now announces this. FWIW. I'm long. Russ
13:00 ET WIND Wind River technology picked by IBM and Sony (3.73 -0.54) -- Update --
Announces that IBM Microelectronics and Sony Business Europe's Semiconductor & Devices Division selected Wind River's PLATFORM for consumer devices to deliver latest set top box reference design.
FWIW. Just a reminder on the potential reverse stock split.
Loral to Seek Shareholder Approval of Reverse Stock Split
Wednesday February 19, 5:13 pm ET
Sets Date for Annual Meeting
NEW YORK--(BUSINESS WIRE)--Feb. 19, 2003--Loral Space & Communications (NYSE:LOR - News) today announced that it will seek shareholder approval to implement a reverse stock split at its annual meeting on May 29, 2003, in order to, among other things, restore the company's compliance with New York Stock Exchange share price requirements. Loral meets all other criteria for continued listing on the Exchange, including having a market capitalization well in excess of the minimum required.
The reverse stock split ratio of new shares to existing shares will be established and detailed in a proxy statement to be mailed to shareholders several weeks before the annual meeting. The date for determining shareholders of record entitled to receive notice of, and to vote at, the annual meeting is April 1, 2003. The reverse stock split transaction will be promptly enacted upon shareholder approval.
As of January 31, 2003, there were 430,798,402 million shares of Loral Space & Communications common shares outstanding. Loral's average daily trading volume in January was 2.3 million shares.
Mainehiker. That 3 way merger idea sounds great. You're right about the cash position at ASTM, but the price is so cheap, it's almost foolish not to take the chance on their success.
Russ
From Briefing.com
09:16 ET ASTM Aastrom Biosciences announces bone disease results (0.30)
According to co, the clinical results support the use of its TRC stem cells for bone disease.
OT. One of these might work for you. Each program has a user review. Russ
http://download.com.com/3120-20-0.html?qt=wav+editor
In this market, you may very well be right. But somehow I think you'll get the reaction you're looking for. No guarantees though. <ggg>
Russ
08:20 ET CUM Cummins downgraded at UBS (26.39)
UBS Warburg downgrades to Reduce from Neutral, saying CUM's mkt share could be vulnerable due to the potential superiority of CAT's ACERT engines and Caterpillar's strong marketing campaign; cuts 2004 est to $2.40 from $3.00 (consensus $3.43) and lowers price target to $20 from $25.
Re: INTU. Add me to the list of people that switched to TaxCut after using Turbotax for many years. As a matter of fact, the CNET review I read placed Taxcut above Turbotax. My girlfriend stuck with Turbotax and followed all the download and activation directions, and still couldn't get her return to print properly. I can't imagine ever going back to Turbotax unless Taxcut does something as equally outrageous.
Russ
CNN Online reporting appearance by Saddam genuine.
• U.S. targets private home, other targets near Baghdad in "decapitation" strike aimed at Saddam, other leaders
• U.S. intelligence officials: Saddam TV appearance genuine, but attack may have killed other senior leaders
• Iraq fires at least four missiles into Kuwait, U.S. says two intercepted by Patriots, two land harmlessly in desert
• Officials confirm U.S. Special Forces performing reconnaissance missions in southern Iraq
Edit: Just got in. Strange.
Anyone else having trouble getting in through the Datek Client Log-in? TIA.
Russ
I'll vote 'higher', though I realize it might just be wishful thinking.
Russ
If the PPT is alive and well, they better be ready for some major 'prop-up' work today. Torrent of downgrades and negative news reported by Briefing.Com this morning.
Russ
From Briefing.com:
14:16 ET MERQ Mercury Interactive: boutique firm recommends maintaining shorts (31.93 -3.57)
Stock has been selling off all day on no news; some traders attribute today's drop to a morning note from boutique firm Apogee Research, which recommended maintaining short positions on MERQ; sources say the firm cites poor quality of earnings, stalled sales, compressed margins, and growing future service commitments in a weak industry environment.
Russ
My goodness ! Are you the real Cents and Sensibility Kimberly Lee, or just a reasonable facsimile?
Russ
Also from Briefing.com. Russ
08:21 ET INTC Intel cut to Mkt Perform from Outperform at Bernstein (20.05) -- Update
From briefing.com. These guys sound confident. Russ
08:06 ET NSM National Semi reiterates Q2 outlook, says industry to recover by June (18.82)
Chairman Brian Halla today reiterated his Q2 rev guidance of flat-to-down 5% sequential growth as well as his forecast of an industry recovery before the end of June; Halla says that demand for electronic gadgets is expected to pick up in the U.S. and that investor confidence is returning.
BRKS. FWIW. I bought a little late Friday on this news. It seems the semi-equips get hit, then bounce back. Hoping the trend will continue on this news for BRKS.
Russ
Brooks-PRI Automation Wins Multi-Million Dollar Hardware and Software Order from China's Grace Semiconductor
Friday November 22, 3:43 pm ET
GSMC purchases Brooks-PRI's SMIF Load Ports, Lithography Management System and Manufacturing Execution Software
http://biz.yahoo.com/prnews/021122/nef021_1.html
I sold my BRCD earlier. I really expected them to disappoint. Of course, in this market, that should have been my cue to hang on.
Russ
16:19 ET BRCD Brocade meets consensus, will lay off 12% of workforce (7.28 +0.89) -- Update --
Reports Q4 (Oct) earnings of $0.07 per share, in line with the Multex consensus of $0.07; revenues rose 31.4% year/year to $153.1 mln vs the $152.3 mln consensus; co also announced it will cut cut its workforce by 12%.
From Briefing.com Russ
13:06 ET BRKS Brooks-PRI Automation cut to Sell from Hold at Deutsche; target lowered to $10 from $17 (14.95 +1.26) -- Update --
BRCD. Got out at 6.97, a little over 10%. Too early I'm sure, but I've always been a nervous trader <g>.
Russ
Thanks Zeev. Have to admit to being a little greedy on this one, but the trigger finger is getting nervous already so I'm not sure how long I'll hang in.
Russ
TraderXx. thanks for your insight. Going to hold it for a while and see how the story unfolds. Don't know if I'll hold any into the close though. Been burned that way a few times.
Regards, Russ
BRCD. Anyone have an idea if this one will bounce higher. Up nicely already from yesterday's close, but looks to be a positive open, and earnings are tonight.
Russ
This may kill any rally attempt. Then again, in this climate, maybe not. From Briefing.com
07:39 ET GE General Electric lowers 2002 guidance
Russ
BRCD. Earnings aren't until after the close tomorrow. More upside during the morning? I'll probably hold until then.
Russ
BRCD. Anyone expecting a pre-earnings ramp before they report Thursday P.M.?
Russ
KLIC green for the day. Will wonders never cease? As a matter of fact, the whole market is turning around. Too strange for me. Just watching.
Russ
From briefing.com. Russ
11:45 ET SOX -1.5% rebounds on Morgan Stanley positive Semi Equipment comments
From Briefing.com. Somebody was discussing this company a couple of days ago I believe.
09:25 ET KLIC Kulicke & Soffa exploring options for non-core biz units (3.86)
Announces that it is exploring options for certain of its non-core business units, including their potential sale; co has begun very preliminary discussions with potential buyers while concurrently exploring other alternatives.
Russ