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Cable companies....
By Ellen Sheng
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Cable operators may have continued to squeeze spending during the fourth quarter, but cable equipment makers managed to close out the year on a hopeful note.
"It looks like the fourth quarter could be better than expected," said Dan Ernst, analyst at Rodman & Renshaw. "Digital and broadband really picked up in the second half of 2002, and December was a pretty strong month."
Subscribers to cable modems jumped 42% year over year, while digital subscribers increased 32% from a year ago, Ernst said.
Still, strong demand for digital and broadband couldn't make up for cutbacks elsewhere, and overall spending was down both sequentially and year-over-year. Under pressure to be cash-flow positive while trying to stem a steady stream of defecting basic cable subscribers, cable companies have been forced to scale back. Also, most companies are wrapping up costly upgrade projects, and the fourth quarter is traditionally a quiet time since cold weather stalls much of the cable installation work.
Kaufman Brothers analyst Michael Perica estimated that fourth-quarter spending was down 10% to 15% sequentially, while total spending plummeted roughly 35% in 2002. Companies making equipment used for plant upgrades and expansions "will suffer the greatest decline as this spending is largely discretionary and success-based," said Perica.
Easing the blow, however, is Comcast Corp.'s (CMCSA, CMCSK) buildout plans for its AT&T Broadband network. At a time when most other cable companies are nearly done with their upgrade projects, Comcast intends to spend between $2 billion and $2.5 billion in 2003 to improve AT&T Broadband's network. Companies most likely to benefit from the buildout are Harmonic Inc. (HLIT) Arris Group Inc. (ARRS), C-Cor.net Corp. (CCBL), and CommScope Inc. (CTV). The massive upgrade project may have lent a boost to a few cable equipment companies during the fourth quarter, but most of the payoff won't come until 2003.
Also benefitting some of the equipment makers is the failed merger between satellite broadcasters EchoStar Communications Corp. (DISH) and Hughes Electronics Corp. (GMH). The outcome "is likely a recommitment by EchoStar and Hughes to adding local broadcast markets and to increasing their high-definition television footprint," Greg Mesniaeff, analyst at Friedman Billings Ramsey, said in a note last week. Both those areas will become very important to suppliers to satellite broadcasters, as such broadcasters try to draw subscribers away from cable.
Leading cable box maker Scientific-Atlanta Inc. (SFA) should see higher than anticipated sales volume during its fiscal second quarter ending December. In early December, the company said it already reached the low end of its guidance of 150,000 units. It won't be much of a reach to hit the high end of its 175,000-unit target.
What remains to be seen is the company's sales mix. Scientific-Atlanta has been selling both low-end and high-end Explorer set-top boxes to Time Warner. Though Time Warner has said it remains enthusiastic about the high-end Explorer 8000 model, the company appeared to pull back slightly on that enthusiasm in September, said Lawrence Harris, analyst at H.C. Wainwright. Harris, who rates Scientific-Atlanta shares at outperform, does not own any shares, but his company has recently done banking for the company.
Also a plus this quarter, Scientific-Atlanta signed an agreement with Cablevision Systems Corp. (CVC) in December that will allow it to recognize previously deferred revenue. As a result, Scientific-Atlanta will be able to recognize revenue on products shipped to Cablevision in the current and future quarters, in addition to about $16 million of revenue deferred from the first quarter ending in September.
Scientific-Atlanta is scheduled to release quarterly earnings Thursday after the market close. Analysts surveyed by Thomson First Call estimate earnings of 15 cents a share on revenue of $317.36 million. A year ago, the company earned 26 cents a share.
Strong Cable Modem Sales For Motorola
Similarly, rival set-top maker Motorola Inc. (MOT), which is scheduled to report earnings Jan. 21, should see strong shipments of cable modems. Alan Bezoza, analyst at CIBC World Markets, says sales of the modems could be up as much as 15% from a year ago. Sales of set-tops should also be "OK," though flat, he said.
Motorola is expected to earn 10 cents a share, after losing 4 cents a share a year ago.
Among the small equipment makers poised to benefit from Comcast's network upgrade, Arris stood out for having a strong fourth quarter. The company should be making "lots of trips to the bank this quarter," said Bezoza, who does not own shares of the company. Arris was able to generate nearly $90 million in operating cash flow and paid down lots of debt during the quarter, the CIBC analyst said. CIBC has done investment banking for Arris, as well as for C-Cor and CommScope.
During the quarter, cost-cutting moves and the sale of its Actives product line to Scientific-Atlanta aided Arris' financial position. The company also laid off 340 people, saving $8 million in the process.
As a result, the provider of broadband local access networks announced in mid-December that its fourth-quarter cash loss before items would come in narrower than the consensus loss estimate of 14 cents a share. Instead, Arris said it was expecting a loss of 8 cents a share to break-even. Arris is scheduled report earnings the morning of Feb. 5. Analysts expect the company to lose 7 cents a share, according to First Call. Arris lost 7 cents a share in the year-ago period.
Though the Comcast buildout bodes well for Arris' equipment business, it is less positive for its cable telephony business. The telephony segment had gotten a significant amount of business from AT&T Broadband, but since Comcast's acquisition of the unit, those projects have been put on hold.
For another company that preannounced, the quarter didn't shape up as well as hoped. In November, C-Cor.net lowered its fiscal second-quarter expectations due to delays in orders from "certain international customers." Officials blamed a proposed merger of two Spanish cable operators for some of the order delays.
The State College, Pa., company now anticipates that net sales for the quarter ended Dec. 27 will be between $49 million and $53 million, with a net loss of 21 cents to 25 cents a share. It previously anticipated sales of $57 million to $63 million, with a net loss of 12 cents to 17 cents a share. The company is scheduled to report results Thursday before the bell.
Analysts expect C-Cor.net to lose 18 cents a share, compared with earnings of 3 cents a share a year ago.
Also hurting from the slowing spending environment, coaxial cable maker CommScope cut its 2,800-person work force by 6% to 7% during the quarter, but maintained its revenue guidance. For the fourth quarter, CommScope still expects fourth-quarter revenue of $125 million to $135 million and a gross margin of 18% to 19%, excluding potential severance costs. Analysts expect a loss of 7 cents a share, according to First Call. A year ago, CommScope earned 10 cents a share.
On a brighter note, Harmonic, which is slated to report Jan. 22 after the market's close, should meet or beat consensus expectations, says Friedman Billing's Mesniaeff. Though the Sunnyvale, Calif., maker of digital and fiber-optic systems has been hurt by cutbacks at troubled cable operator Charter Communications Inc. (CHTR), the company can expect to benefit from the Comcast buildout as well as new HDTV and local projects from satellite operators, Mesniaeff said.
Analysts surveyed by First Call estimate a fourth- quarter loss of 20 cents a share on revenue of $37.8 million. In the year-ago quarter, Harmonic lost 14 cents a share.
Mesniaeff does not own shares of any of the companies he follows, and Friedman Billings Ramsey has not done investment banking for any of the cable equipment makers mentioned.
-By Ellen Sheng, Dow Jones Newswires; 201-938-5863; ellen.sheng@dowjones.com
(END) Dow Jones Newswires
01-14-03 1315ET
>>>I wonder how many times I have heard that little rumor about IDCC? Can you direct me to the website listed, I can't seem to find JAGfn.com? Where did you see this link... Maybe it isn't favorable since ERICY is up over 9% today and NOK still green. PLEASE enlighten me, I want to "believe"<<<
Pulled the Jag info from Schwab real-time news.
IDCC surging near a day high.
Jan 14, 2003 (JAGfn.com via COMTEX) -- InterDigital Communications Corporation
(IDCC) $15.14: Rumor that IDCC will get a settlement from NOK and ERICY from
patent lawsuit. Companies unavailable for comment.
BLUD surging north on strong volume.
RIMM seeing some buying action.
By Stuart Weinberg
Of DOW JONES NEWSWIRES
TORONTO (DOW JONES)--The U.S. Patent and Trademark Office's decision to re-examine five patents at the heart of a dispute between Research In Motion Ltd. (RIMM) and NTP Inc. is rare and could benefit Research In Motion.
Richard Meyer, a patent lawyer at Washington, D.C.-based Morgan Lewis & Bockius LLP, said possible outcomes to the reexamination include: a decision to reject the NTP patents, a decision to amend the patents or a decision to leave the patents unchanged.
It's rare for the Patent and Trademark Office to initiate a re-examination, Meyer said. But that's apparently what occurred. In a press release issued early Tuesday, Research In Motion, maker of the BlackBerry wireless handheld, said the director of the Patent and Trademark Office determined that certain relevant patents and publications (known as "prior art") not previously considered raise a substantial new question of patentability as to the claims of the NTP patents.
The simmering dispute between Research In Motion and NTP made headlines in November when a Virginia jury ruled that Research In Motion had infringed on five NTP patents. The jury awarded NTP, a Viginia patent house, $23.1 million in damages.
On Nasdaq Tuesday, Research In Motion is up 99 cents, or 6.7% to $15.86 on about 1.2 million shares.
Company Web Site: http://www.rim.net
(MORE) Dow Jones Newswires
01-14-03 1350ET
'X'.......Continues higher. Still long
PIOS is surging on news.
AAII cooking as expected. Just sold 1/2 and will let the other half ride with the Gods.
>>>Excluding the 5% rise in auto sales, however, sales were flat, reflecting the dismal holiday sales many retail chains reported earlier. Economists were expecting a slightly better 0.2% gain in ex-auto sales. November's sales gain was revised to 0.9% from 0.4%. <<<
Its going to get worse. I expect retail sales to take a massive nose dive in Jan. I'm looking to short many retailer stocks which have recently surged on BS news. I will even short AMZN.
I'm playing AAII this morn. The the will surge on positive news.
Bob, would you please e-mail me and explain what a membermark is. Thanks
TREE worth watching as it nears a day high.
JAH is another I'm watching for a breakout soon.
SEPR still looking strong here.
SEPR watch
By Karen Talley
Dow Jones Newswires
NEW YORK -- Hopes for small stocks to resume their mantle as market-outperformers may be set back by President Bush's plan to end personal income taxes on dividends.
The proposal "appears to be a con to our smaller-is-better thesis," said Steve DeSanctis, head of small-cap research at Prudential Securities. That is because most small stocks don't pay dividends -- feeling it is more important to put the money they do make back into operations to aid much-desired growth.
The concern is that the Bush plan will then steer investors more toward the large-cap market, where dividends are much more abundant.
More than half the companies in the Russell 1000 Index of large-cap companies pay dividends, while just a third of those in the Russell 2000 Index of small caps do. The average yield for the Russell 1000 is also higher, at 1.72%, compared with 1.4% for the small-cap index.
That isn't to say small caps completely lack dividend oomph. And based on the premise that "generous dividend payers could see a boost" if the tax law is changed, Mr. DeSanctis sees a number of opportunities for investors.
The top five Russell 2000 dividend payers are small-business investor MCG Capital, with a 15% yield; buyout firm AM Capital Strategies, 14% ; utility Northwestern (NYSE), 13%; electricity and gas distributor Vector Group (NYSE), 12%; and utility Westar Energy (NYSE), 12%.
Small caps that have demonstrated a propensity to improve their payouts may also be attractive. The top five Russell 2000 members that have increased payouts over the past five years are Albany International Group (NYSE), which makes fabrics used with paper-manufacturing machinery, with a jump to 22 cents from five cents a share; Citizens First Bancorp, up to 32 cents from eight cents; life-insurance provider Financial Industries, rising to 92 cents from 25 cents; chicken and pork distributor Seaboard (NYSE), up to $3 from $1; and banking company Port Financial, rising to 72 cents from 28 cents.
Small-cap money managers are mixed about the president's proposal, saying it may benefit big caps more than their group, but they generally aren't planning to overhaul their strategies. The portfolio managers say if a company is a good one it will rise in price whether it is big or small, pays dividends or not.
---
Friday's Market Activity
Small stocks joined their larger counterparts in posting a rise for their first full week of trading in 2003, but those hoping for the "January effect" to kick in -- where small caps lead the market -- were disappointed. Still, everyone did display strength, even on Friday, as stocks ended with gains after an initial selloff. The recovery helped small stocks mark their second consecutive weekly rise.
The Russell 2000 added 0.50 points, or 0.13%, Friday, closing at 396.44, with a gain of 1.57%, for the week. The S&P SmallCap 600 rose 0.35, or 0.17%, to 201.32, part of a gain of 0.60% for the week.
Steel and other materials stocks were among the session's best performers. U.S. Steel (NYSE) began the session as a small-cap stock with a market capitalization of less than $1.5 billion, but closed as a large-cap by passing that threshold with a gain of 7.3%, or $1, to $14.70. Several analysts Friday made positive comments about the company's plans to buy nearly all the assets of National Steel, continuing the industry's consolidation. Among other steel producers, Allegheny Technologies rose 2.4%, or 14 cents, to 6.05, and Worthington Industries rose 1%, or 15 cents, to 15.97, both on the NYSE.
Restaurant stocks, which have struggled lately, reversed course, aided by Ruby Tuesday (NYSE), which rose 6.4%, or 1.22, to 20.27 after saying in a conference call that sales momentum is building and the company will invest marketing dollars to drive same-store sales. Lone-Star Steakhouse rose 1.8%, or 44 cents, to 25.48, and Jack in the Box (NYSE) rose 1.4%, or 24 cents, to 17.45.
But health-care providers struggled after UBS Warburg and Lehman Brothers downgraded LifePoint Hospitals, which lost 9.4%, or 2.48, to 24.02, with UBS saying it sees a more "uncertain" environment for the industry. Province Healthcare fell 6.9%, or 65 cents, to 8.80 and Pediatrix Medical Group declined 1.5%, or 61 cents, to 39.94, both on the NYSE.
DeCode Genetics was one of the session's best gainers, rising 41%, or 87 cents, to 2.97 after the Reykjavik, Iceland, genetic-information provider was upgraded to overweight from neutral by J.P. Morgan, which said little value is being given the company's product pipeline which includes genetic identifiers for heart ailments.
OM Group (NYSE) rose 28%, or 1.79, to 8.14 on reports that cobalt prices are rising, which could boost profits of the specialty-chemical maker, which uses cobalt as a raw material and also refines it.
Kana Software gained 30%, or 90 cents, to 3.88 after the Palo Alto, Calif., online communications-systems provider was upgraded to buy from hold by W.R. Hambrecht.
(END) Dow Jones Newswires
01-12-03 1935ET
>>>Will watch HJD to buy soon as insiders are buying. <<<
I mean HD.
Bought HMY this morn. I've been building a longer term position in "X". Will watch HJD to buy soon as insiders are buying.
By Dinah Wisenberg Brin
Of DOW JONES NEWSWIRES
PHILADELPHIA (Dow Jones)--Disappointing December sales at Home Depot Inc. (HD) shouldn't affect building products makers' fourth-quarter financial results, but could spell uncertainty for the companies in 2003.
Several key building products players are expected to post higher earnings in the fourth quarter compared with a year ago, although competitive pricing pressures among power tool makers and ongoing softness in industrial end markets may dampen some results.
Power tool maker Black & Decker Corp. (BDK) has announced that it expects to meet or beat Wall Street earnings estimates of $1.01 a share for the fourth quarter, compared with 72 cents of operating earnings in the year-ago period. Black & Decker had a net loss of 16 cents a share in the fourth quarter of 2001, when it took a large restructuring charge that included job cuts and plant shutdowns.
Sherwin-Williams Co.'s (SHW) chairman and chief executive told Dow Jones Newswires in late December that the paint company was sticking with operating earnings guidance of $2.00 to $2.06 a share, or net income of 79 cents to 85 cents a share. That indicates fourth-quarter net income of 32 cents to 38 cents a share, compared with 29 cents a year earlier.
Analysts expect earnings of 39 cents a share for Sherwin-Williams in the fourth quarter, according to a Thomson First Call survey consensus.
"Home improvement activity and homebuilding activity have still been reasonably strong," Merrill Lynch & Co. analyst Joseph Sroka said.
Sroka predicts fourth-quarter earnings of 36 cents a share for Delta faucet and KraftMaid cabinet maker Masco Corp. (MAS), a penny less than the analyst consensus view and a nearly 40% gain from the 26 cents a share that Masco earned in the fourth quarter of 2001.
Hand tool and hardware maker Stanley Works (SWK) faces a flat fourth quarter, according to analysts, who cite the effects of the soft industrial market. Analysts, on average, forecast earnings of 56 cents a share for Stanley, compared with year-ago net income of 7 cents a share, including special charges, and operating income of 57 cents a share.
Home Depot's Jan. 2 warning that its fourth quarter would be softer than expected caused investor concern for building products companies, but Sroka doesn't expect Home Depot's woes to shake their fourth-quarter results. Fiscal 2003 remains a question, however, he added.
The home-improvement retailer said it expects earnings of $1.53 to $1.55 for the fiscal year ending Feb. 2, compared with a previous estimate of $1.57 and year-earlier earnings of $1.29 a share, and said fourth-quarter same-store sales could fall as much as 10%, a steeper drop than the previously forecast 3% to 5%. Home Depot cited lower-than-expected December sales, and said it expects a challenging environment well into its next fiscal year.
Competitor Lowe's Cos. (LOW) reaffirmed its own fourth-quarter earnings guidance, including same-store sales growth of 2% to 4% and earnings of 33 cents a share, and said full-year earnings should increase 37% to $1.78 a share.
"It begs the question for 2003, just where is the market headed," Sroka said. The Home Depot and Lowe's outlooks send "sort of a mixed message," he said.
Housing remains strong while the industrial economy has been weak but may be improving somewhat, he said. High oil prices are a negative for the building products companies, but the euro is strong relative to the dollar, which is a positive, Sroka said.
"It's obviously early to call 2003 as a whole," he said. But Sroka said Black & Decker, Sherwin-Williams, Stanley Works and Masco all are gaining market share in their end markets. The analyst said he doesn't own shares in any of those companies. Merrill Lynch has investment-banking business with Masco and Stanley but not with Black & Decker or Sherwin-Williams, he said.
Strength Seen In Consumer Business
Parker Hunter Inc. analyst Lawrence Horan said building products companies generally should post very good fourth-quarter results on the consumer side of their businesses but weaker numbers on the industrial and commercial side.
"Manufacturing's been sick for a long time but the consumer's been strong," he said. Black & Decker, Sherwin-Williams and Masco should report gains for the period, but Stanley Works will have a flat quarter because "they're getting hurt on the industrial side," Horan said.
He noted that Masco, expected to post a large gain, sells primarily residential products. Horan said he owns shares of Masco, Sherwin-Williams and Stanley Works but not Black & Decker. Parker Hunter doesn't do investment-banking for any of those companies, he said.
Janney Montgomery Scott LLC analyst James Lucas said it's unclear how softness at Home Depot will affect the chain's buying patterns and building products companies in 2003. The fourth-quarter effect is less of a concern because the retailer already bought the building products, but it remains to be seen how much inventory will be left, he said.
The power-tool arena continues to face competitive pricing pressures, Lucas said. The emergence of TechTronic Industries Co.'s (H.TEC) budget power-tool line, Ryobi, at Home Depot has created a "trade down phenomenon," he said.
Still, Lucas said in an interview, Black & Decker "had a number of neat products during the holiday season, which has become a trademark for the company."
Home Depot is an important customer for Black & Decker, but not its only one, as the company enjoys broad distribution, he said later in a research note. The company has a diverse portfolio of products and two of the strongest brands in Black & Decker and DeWALT, he wrote.
Black & Decker should benefit from having closed some plants in high-cost locations, Lucas said. The company should do all right in the fourth quarter, he said. Lucas forecasts earnings of $1 a share, a penny shy of the consensus.
In contrast, a little more than half of Stanley's business serves industrial end markets, which remain soft, Lucas said. Stanley depends on holiday sales less than power tool manufacturers, so Home Depot's slower December sales should not bode ill for the company's bottom line, he said.
Janney already was expecting a challenging fourth quarter for Stanley because of sluggishness in industrial end markets, he said. Stanley's recent purchase of Best Access Systems allows the company to enter the faster-growing security market and should contribute to earnings in 2003, Lucas wrote.
Diversified manufacturer Pentair Inc. (PNR), which makes power tools near the pricier end of the spectrum, as well as water pumps and enclosures for electronic components, has been subject to the pricing pressures affecting the power-tool sector, Lucas said.
Pentair should fare well in terms of revenue but pricing pressure will probably compress margins, Lucas said. He expects Pentair to earn 51 cents a share in the fourth quarter compared with 27 cents a share a year earlier, when tool business difficulties resulted in a rough showing. His estimate is 4 cents below the consensus view and less than the company's own guidance.
Pentair has exposure to Home Depot's home-center channel but its Delta and Porter-Cable tool brands are less dependent on the chain than in the past, and the company's faster-growing exposure to Lowe's should help fourth-quarter results, Lucas said.
Pentair has been working on its cost structure and positioning itself for an industrial recovery, and two acquisitions should contribute to the bottom line in 2003, he said.
Lucas rates Black & Decker, Stanley and Pentair at buy. He said he doesn't own shares of the companies and said Janney hasn't done investment-banking for them recently. Janney research notes on each company said the firm expects to receive or seek investment-banking compensation from the businesses in the next three months.
-By Dinah Wisenberg Brin, Dow Jones Newswires; 215-656-8285; dinah.brin@dowjones.com
(END) Dow Jones Newswires
01-10-03 1201ET
SFA another worth watching. Hitting a day high here.
>Bearmove...whats NVGR...not coming up as a valid ticker?<
Sorry....should read NVGN
MDCO breakout watch
AVID....I believe this is a buying oppty.
NVGR at a day high and worth watching.
Wi-Fi Watch List
Keep an eye on these in 2003
ISIL Intersil $15.95
BRCM Broadcom 18.71
PCTI PC-Tel 7.12
MXIM Maxim Integrated Products 38.04
RFMD RF Micro Devices 8.20
INTC Intel 17.34
HRS Harris 28.26
ITT ITT Industries 60.05
VZ Verizon 43.50
DT Deutsche Telekom 14.18
LVLT Level 3 4.98
Source: MSN Money
CIEN breakout watch
"X" is surging. I've been long and added this morn.
I will watch INTC to buy as a earnings play. Why? Because almost every single earnings season the stock runs up on earnings after all the spinning. I see a $1 downside and a potential $3 upside. I will have the CNBC cheerleaders backing me up.
Bad North Korea news...
Reuters
Tokyo, Seoul Markets Shaken
Friday January 10, 3:29 am ET
By Richard Baum
SINGAPORE (Reuters) - Japanese and South Korean stocks and the yen fell on Friday after North Korea said it was pulling out of the nuclear Non-Proliferation Treaty, alarming investors in neighboring countries.
The escalation of tension over North Korea's nuclear weapons program dealt a further blow to an already weak Tokyo stock market and reversed gains in Seoul.
"North Korea pulling out of the treaty has been talked about for some time, but it is still so geographically close to Japan and I think bears have used it as an excuse to sell," said Hiroyuki Nakai, chief strategist at Tokai Tokyo Securities.
http://biz.yahoo.com/rb/030110/markets_asia_5.html
Islamic Gold Dinar Will Minimize Dependency on U.S. Dollar
The first Islamic gold dinar was issued in 1992
By Khaled Hanafi, IOL staff
CAIRO, January 8 (IslamOnline) – Malaysia will start using the Islamic gold dinar starting mid 2003 in its foreign trade section with some countries replacing the U.S. dollar in a first step move toward unifying the currency used in commercial dealings between Islamic countries.
The success of this idea, according to several western newspapers, may lead to minimizing the U.S. dollar hegemony as an intermediate tool in commercial dealings in the world.
The idea was adopted by Malaysian Prime Minister Mahathir Mohamad who conducted bilateral talks during the year 2002 with several Islamic countries, including Bahrain, Libya, Morocco and Iran, to convince them of using the Islamic dinar as a way of payment in their commercial dealings with Malaysia.
This move is considered from one side a way to recall a currency related to the history of Muslims and their monetary heritage since the time of Prophet Muhammad (peace be upon him), and from the other side, the ability to find the Islamic alternative to the dollar at a time the calls to boycott all what is labeled as American starting from goods to currency, are intensified.
The idea of the Islamic gold dinar belongs to Professor Omar Ibrahim Fadillo, founder of the Morabeteen International Organization founded in 1983 in South Africa where it is widely known as well as in Europe.
The organization believes that the unity of the Islamic world can not be achieved except through the unification on the economic level. It also calls for the establishment of a united Islamic market using one currency which is the gold Islamic dinar used by the Morabeteen members, hoping it will replace the U.S. dollar.
“The idea of the Islamic gold dinar aims at minimizing the hegemony of the U.S. dollar and to use the gold once again as an international currency because the value of the paper currencies is in continuous fluctuation unlike the stable gold currency which preserve its value through the value of the metal itself.
The system is built on the idea that the Islamic governments keep the gold in a central bank and use it in settling their commercial dealings instead of depending on foreign fund markets and foreign financial corporations.
Dinar Online
The first Islamic gold dinar, equivalent to 4.25 grams of 22-karat gold, was issued in 1992 on a very limited scale between the member of the Morabeteen.
In 1997, the idea developed to be implemented into an exchange framework through launching what was called the electronic dinar, a system based on using the gold as fund through transactions made on the internet.
According to the e-dinar limited company based in the Malaysian island of Lapoine, the electronic transactions using the gold Islamic dinar currently reached what is equivalent to 4 tons of gold and that the users are increasing with 10% monthly.
The number of users through the electronic dinar website www.e-dinar.com, launched in 1999 after 7 years of issuing the Islamic gold dinar, reached 600,000 and that number is increasing, the company announced.
Several countries around the world are currently dealing directly with 100,000 Islamic gold dinars and 250,000 silver dirhams issued by the company, hoping that one day it will replace the U.S. dollar in the dealings of the 1.3 billion citizens of the Islamic countries.
Benefits of Dinar for Islamic countries
The success of the gold dinar as a united Islamic currency will depend on the level of demand of the countries that want to deal with it as the primary currency in the international commercial dealings.
Islamic countries will benefit if they implement this new currency in many ways, the most important of which is that these countries will not need reserve of foreign currencies to finish commercial trading, Dr. Mohamed Sherif Beshir said.
“Consequently, the gold dinar will be the ideal currency to facilitate and increase international trade and minimizing speculation in paper currency that lead to the Asian currency crisis in 1997,” he said.
The existence of a fund unity between the countries of the Muslim world will increase the amount of trade between them and will help in increasing the economic development if the conditions for the success of the gold dinar were provided, he added.
PCLE is hitting a day high here...
Bought EDS with a stop at $19.95
Also take a look at POSS.
Thanks Plexxus, I'm looking for $20+ this year out of this stock.
MVL buyers keep stepping up. MVL looks to move to new highs again. Watch
MVL saw a 40,000 block buy at the close Monday. MVL has a projected 132% growth rate for 2003.
Expect more new highs going forward. I'm also expecting MVL to come out with news any day and raise numbers going forward.
The Hulk;)
MVL is kicking butt. Should move thru $10 soon and then the big boys jump in.
ABY day high.
Also love IVX here.
MVL....Bingo! New 52wk high breakout.
MVL.....Watch for breakout to new high.
GATEWAY INC (GTW)
The holiday shopping season failed to bear fruit from
Gateway's two-year turnaround, The Wall Street Journal
noted, requiring a further revamp in corporate strategy.
Price: $3.23
Net Change: -$0.23
% Change: 6.65% Loss
Volume: 266,200 Shares
... ... ...
APPLIED MOLECULAR EVOLUTION INC (AMEV)
J.P. Morgan boosted its rating to overweight from
underweight.
Price: $3.38
Net Change: $0.66
% Change: 24.26% Gain
Volume: 269,418 Shares
... ... ...
1-800-FLOWERS.COM INC (FLWS)
Forecast fiscal second-quarter earnings of 15 cents a
share, which falls below the 17-cent-a-share profit
estimate of analysts. The firm's revenue projection of
$197 million for the quarter also misses the analyst
forecast of $206.6 million.
Price: $5.86
Net Change: -$0.53
% Change: 8.29% Loss
Volume: 228,700 Shares
... ... ...
CHARLES RIVER LABORATORIES (CRL)
Forecast a fourth-quarter profit of 35 cents to 36 cents a
share, while analysts expect 36 cents a share. Sales should
grow 14% during the quarter, below its prior forecast of
15%. Separately, paid $10.4 million to increase its stake
in Charles River Japan, a joint venture with Ajinomoto Co.,
to 85.01%.
Price: $34.00
Net Change: -$4.06
% Change: 10.67% Loss
Volume: 753,900 Shares
... ... ...
CRYOLIFE (CRY)
The Food and Drug Administration, which halted
CryoLife's tissue processing in August, told the company
that it can again distribute non-valved cardiac and
vascular tissues without extraordinary restrictions.
Price: $7.61
Net Change: $0.76
% Change: 11.09% Gain
Volume: 290,100 Shares
... ... ...
SBC COMMUNICATIONS (SBC)
The Federal Communications Commission will stop forcing
local phone companies to renting their networks to
competitors at reduced rates, The Wall Street Journal
reported, which may reverse increasing price competition.
Price: $30.95
Net Change: $2.07
% Change: 7.17% Gain
Volume: 4.7M Shares
VERIZON COMMUNICATIONS (VZ)
Price: $43.15
Net Change: $2.70
% Change: 6.67% Gain
Volume: 4.3M Shares
BELLSOUTH CORP (BLS)
Price: $29.10
Net Change: $1.98
% Change: 7.30% Gain
Volume: 2.1M Shares
QWEST COMMUNICATIONS INTERNATIONAL (Q)
Price: $5.99
Net Change: $0.61
% Change: 11.34% Gain
Volume: 3.5M Shares
- -
Below are previously published hot stocks
with updated price and volume data
- -
AT&T CORP (T)
Federal regulators are preparing to stop making local
phone companies rent their networks to their main
competitors at cheap rates, a setback for AT&T. The
company announced $440 million in new fourth-quarter
charges, from impairment and restructuring costs, which
comes in addition to an earlier $1.1 billion charge from
its Latin American operations.
Price: $27.45
Net Change: -$0.21
% Change: 0.76% Loss
Volume: 1.6M Shares
... ... ...
HOTELS.COM (ROOM)
Cut its fourth-quarter and full-year earnings and
revenue targets, citing unexpectedly low bookings and
higher advertising expenses. It corporate parent, USA
Interactive, fell despite backing its 2002 projections,
as did corporate sibling Expedia.
Price: $43.26
Net Change: -$15.78
% Change: 26.73% Loss
Volume: 5.1M Shares
USA INTERACTIVE (USAI)
Price: $21.97
Net Change: -$2.25
% Change: 9.29% Loss
Volume: 7.6M Shares
EXPEDIA INC (EXPE)
Price: $62.36
Net Change: -$8.54
% Change: 12.05% Loss
Volume: 3.6M Shares
... ... ...
PROBUSINESS SERVICES (PRBZ)
Automatic Data Processing agreed to buy ProBusiness
for $17 a share, or about $500 million in cash.
Price: $16.63
Net Change: $6.37
% Change: 62.09% Gain
Volume: 2.1M Shares
AUTOMATIC DATA PROCESSING INC (ADP)
Price: $40.21
Net Change: -$0.18
% Change: 0.45% Loss
Volume: 412,700 Shares
... ... ...
MCDATA CORP (MCDT)
Boosted its fourth-quarter earnings and revenue targets,
citing strong demand for new products.
Price: $9.50
Net Change: $1.10
% Change: 13.10% Gain
Volume: 2.3M Shares
... ... ...
VIRAGE LOGIC CORP (VIRL)
Lowered its fiscal first-quarter earnings and revenue
forecasts, saying some customers delayed purchases and
and the industry has been slow to adopt its 90-nanometer
process technology.
Price: $6.42
Net Change: -$3.25
% Change: 33.61% Loss
Volume: 629,821 Shares
... ... ...
VIGNETTE CORP (VIGN)
Said fiscal fourth-quarter revenue will top its earlier
forecast of between $30 million and $32 million. Laid
off 20% of work force in connection with its acquisition
of Epicentric Inc.
Price: $1.56
Net Change: $0.27
% Change: 20.93% Gain
Volume: 1.6M Shares
MVL.....This is my top pick for 2003.
MVL has 4 movies coming out this year. The companies growth rate is projected at 132% for 2003. The co has payed down debt bigtime. I expect them to raise numbers soon as the cash rolls in from Spiderman. Also, MVL has the master toy lic for all 3 Lord of the Rings movies.
The stock will soon breakout to a new high.
The Hulk Super Bowl Spot Confirmed
Tuesday, December 24, 2002 7:57 CST
Variety has confirmed what you heard here first in that you'll be getting your first good look at Universal's The Hulk on the Super Bowl...
While a Hulk-less teaser trailer for the film adaptation of the Marvel Comics character has already bowed in theaters, a second, more revealing trailer is set to appear during the Super Bowl on Jan. 26.
The first official print image in theaters comes in the form of an oversized banner that features the Hulk reaching toward viewers. The banner was placed in several highly trafficked multiplexes on Dec. 20.
"We chose to put out the first image in Hulk size and only in Hulk size," says Marc Shmuger, vice chairman of Universal Pictures. "You're managing a brand with the Hulk. The medium is as much a part of the message of the brand as the brand itself."
The trade says the studio is trying to avoid Sony's "Godzilla" approach, which kept the creature hidden until close to the film's release, and go with a campaign similar to Spider-Man...
By contrast, [Sony] ended up whetting the appetites of "Spider-Man" fans by releasing early shots of the superhero and settling any fears over the pic's production, which is said to have helped generate $115 million for the pic during its opening weekend.
"From the first image of 'Spider-Man,' there he was," Shmuger said. "There was no tease about what he was going to look like."
"It was both an opportunity and a challenge to present the excitement, the power and the realism of this character in the print medium, and we are enormously pleased with the resulting image," said Adam Fogelson, president of marketing.
http://www.superherohype.com/cgi-bin/news/hulk.cgi?newsid1040738268,45381,
ABY is now breaking out.
30-Day Avg. Volume: 407,000
Todays volume is at 320,000 so far.
PE 9
Yield at 3.10%
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>>>Rich, Is that you of AOL's Experienced Investors fame? Welcome to the board. If you are not Rich, welcome to the board anyway. LOL! I would be interested ina list of stocks you are currently trading or watching. <<<
Its me buddy. Glad to find this board. Do you guys have room for another trader?
I'm bullish on MVL...ABY....IVX
ABY.....Breakout watch
3.10% yield, PE of 9 and a breakout in the cards, this one is a buy.