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Is it me, or is SI down right now?
14:38 ET Taiwan hit by moderate earthquake : An earthquake measuring 6 on the Richter scale hit Taiwan today, but there was no immediate report of injuries or damage. Little reaction in Taiwanese foundries TSM and UMC.
13:54 ET Fairchild Semi estimates cut by Prudential (FCS) 12.48 -0.62: Prudential cuts ests for FCS, saying that checks indicate a build in distribution inventories since June, and that current inventory levels of discrete components could translate into pricing pressures and less visibility in the Dec qtr; cuts 2003 rev/EPS ests to $1.550 bln/$0.92 from $1.647 bln/$1.00 (well below consensus), and cuts price target to $14 from $22.
This post shows you as #1 Zeev, but dosen't show the # of PeopleMarks however.............
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=17413120
Seems the link won't let you connect to the message. I found it on SI's - Welcome to SI : Welcome to Silicon Investor! thread. It is post # 15817, posted; Thursday, May 2, 2002 11:47 AM.
FWIW, you were also #1 in the March 2002 HOT PEOPLE list as well - see post # 15775 posted; Friday, Mar 1, 2002 3:19 PM
Sadly, you were a paltry #3 in August 2001 <ggg>
:-o
Zeev, the only thing that seems to be slow is the link for this thread. If you click to read an individual post or to read the next 10 posts, it seems to be at normal speed FWIW.
12:45 ET Micron still expecting stronger second half - Soundview (MU) 17.96 -0.40: Following their bus tour with MU, Soundview commenting that demand for the co in July and August has been uneven, although customers are still buying parts with the expectation of some back-to-school strength and a stronger 2H02; co estimates capex this year to be $900 mln and $1.1 bln in 2003.
Reuters Market News
IPO shares allocated to WorldCom execs by Salomon
Tuesday August 27, 6:39 pm ET
WASHINGTON, Aug 27 (Reuters) - Following is a table of
initial public offerings, managed or co-managed by Salomon
Smith Barney and its predecessor companies, in which top
current and former WorldCom executives purchased shares. The
information was turned over by Salomon's parent, Citigroup Inc.
(NYSE:C - News), to the U.S. House Financial Services Committee.
Former WorldCom CEO Bernard Ebbers
Company: Shares: IPO Price:
SignalSoft Corp. 5,000 $17
TyCom Ltd. 7,500 $32
KPNQwest NV CL 20,000 $20.81
United Parcel Service 2,000 $50
Chartered Semiconductor 5,000 $20
Radio Unica Communications Corp. 4,000 $16
Williams Communications Group 35,000 $23
Focal Communications Corp. 5,000 $13
Juniper Networks Inc. 5,000 $34
Juno Online Services Inc. 10,000 $13
Rhythms NetConnections Inc. 10,000 $21
Earthshell Corp. 12,500 $21
Teligent Inc. 30,000 $21.50
Metromedia Fiber Net 100,000 $16
China Mobile Hong Kong Ltd. 2,000 $30.50
Nextlink Communications Inc. 200,000 $17
Box Hill Systems 5,000 $15
TV Azteca SA 1,000 $18.25
Qwest Communications Intl. Inc. 205,000 $22
Tag Heuer Intl. 5,000 $19.55
McLeod Inc. 200,000 $20
Former WorldCom CFO Scott Sullivan and Carla Sullivan
Company: Shares: IPO Price:
Travelers Property Casualty 3,900 $18.50
Kraft Foods Inc. 2,000 $31
Williams Communications Group 10,000 $23
Ixnet Inc. 5,000 $15
Rhythms NetConnections Inc. 7,000 $21
Telegroup Inc. 200 $10
Interstate Hotels Co. 200 $21
Nova Corp. 2,000 $19
Travelers/Aetna Property 2,000 $25
WorldCom Chairman Bert Roberts
Company: Shares: IPO Price:
AT&T Wireless Services Inc. 3,000 $29.50
WorldCom Director Stiles Kellett
Company: Shares: IPO Price:
AT&T Wireless Services Inc. 5,000 $29.50
Telecorp PCS Inc. 1,100 $20
NetZee Inc. 8,000 $14
United Parcel Service 50 $50
Williams Communications Group 700 $23
Telemate.Net Software Inc. 1,500 $14
Airgate PCS Inc. 700 $17
Labranche & Co. 100 $14
Rhythms NetConnections Inc. 4,000 $21
Edutrek International Inc. 700 $14
A Consulting Team Inc. 800 $12
Pameco Corp. 500 $14
Healthcare Recoveries Inc. 1,000 $14
Metro Information Services Inc. 500 $16
Firearms Training Systems Inc. 1,500 $14
Synthetic Industries Inc. 300 $13
Ingram Micro Inc. 300 $18
National Oilwell Inc. 300 $17
Hibbett Sporting Goods Inc. 100 $16
RMH Teleservices Inc. 100 $12.50
Telespectrum Worldwide Inc. 400 $15
Source Services Corp. 300 $14
American General Hospitality 1,500 $17.75
Strayer Education Inc. 200 $10
Remedytemp Inc. 400 $13
Airnet Systems Inc. 1,000 $14
Trico Marine Services Inc. 100 $16
Nova Corp. 200 $19
Travelers/Aetna Property 200 $25
Former WorldCom Chairman James Crowe
Company: Shares: IPO Price:
Qwest Communications 170,000 $22
Former WorldCom Director Walter Scott
Company: Shares: IPO Price:
Qwest Communications Intl Inc. 250,000 $22
Former WorldCom director Roy Wilkens
Company: Shares: IPO Price:
McLeod Inc. 50,000 $20
Reuters Market News
HP CFO Says Economy Weaker Than Expected
Tuesday August 27, 5:17 pm ET
SAN FRANCISCO (Reuters) - Hewlett-Packard Co. (NYSE:HPQ - News) Chief Financial Officer Bob Wayman said on Tuesday that economic weakness hurt sales in all business areas, but printers in its fiscal third quarter and that the slowdown was worse than expected.
He told Reuters that international softness, especially, was more pronounced than he had noted in a June 4 meeting with analysts, but the recently concluded merger with Compaq Computer Corp. was on track. Corporate goals for the merger were unchanged, he said.
"All of us are seeing a few new signs of weakness," he said, referring to the industry as a whole, when asked to compare his current outlook with that on June 4.
"We are leveling out in the U.S. and seeing some risks around the world."
Wayman said HP still planned to cut 15,000 jobs due to the merger and said his previous forecast of a revenue loss of 4.9 percent due to the merger was still a "good model."
http://biz.yahoo.com/rf/020827/hewlett_outlook_1.html
17:24 ET Hewlett-Packard (HPQ) 14.21 -0.64: -- Update -- On its conference call, the company again affirms guidance for Q4 (Oct), however, conditions point to continued weak IT spending. Buying cycles are lengthening. The company's workforce reduction is on track. Not much new on the call that's not in the press release... stock at 14.60
15:28 ET Gore aide finds "white powder" in envelope sent to Gore headquarters
New LOD in the QQQ's & the SOX
14:01 ET KLA-Tencor now eyeing August low (KLAC) 34.61 -1.71: -- Technical -- The stock has recently pushed to a fresh session low and is currently a mere $0.44 from the multi-month low established on August 14. The next support of interest if a breach of the August low (34.17) is sustained is in the 33.66/33.46.
QQQ's new LOD
SOX new LOD
The dollar won't help equities today............
http://quotes.ino.com/chart/?s=NYBOT_DXY0
Zeev,
What sort of time frame are you looking for that low (1308 +/-)? Days? Weeks?
TIA
KLAC new LOD
QQQ new LOD
SOX new LOD
North American Semiconductor Equipment Industry Posts July 2002 Book-to-Bill Ratio of 1.16
SAN JOSE, Calif., August 20, 2002 -- The North American-based manufacturers of semiconductor equipment posted $1.15 billion in orders in July 2002 (three-month average basis) and a book-to-bill ratio of 1.16, according to the July 2002 Express Report published today by Semiconductor Equipment and Materials International (SEMI). A book-to-bill of 1.16 means that $116 worth of new orders were received for every $100 of product billed for the month.
The three-month average of worldwide bookings in July 2002 was $1.15 billion. The bookings figure is two percent below the revised June 2002 level of $1.17 billion yet 50 percent above the $769 million in orders posted in July 2001.
The three-month average of worldwide billings in July 2002 was $995 million. The billings figure is seven percent above the revised June 2002 level of $927 million and 17 percent below the July 2001 billings level of $1.19 billion.
"The July bookings data likely reflects renewed questions about the robustness of the economic recovery and the prospects for the consumption of electronic goods," said Dan Tracy, Ph.D., director of industry research and statistics for SEMI. "The data is consistent with recent announcements of reduced capital spending plans by some global chipmakers and supports the consensus of industry analysts projecting market recovery in 2003."
The SEMI book-to-bill is a ratio of three-month moving average bookings to three-month moving average billings for the North American semiconductor equipment industry. Billings and bookings figures are in millions of U.S. dollars.
http://dom.semi.org/web/wpress.nsf/174c224b2afaf5e7882565b60079d14a/489d9a9af703819c88256c1b007662f7....
New highs - new lows seems to be improving Zeev.
The plug got pulled on NEWP...........
Newport Corporation Announces Cost Reduction Plans and Associated Division Reorganization
IRVINE, Calif., Aug. 20, 2002 (PRIMEZONE) -- Citing the protracted downturn in the fiber optic communications market and the current uncertainty with respect to the pace of the recovery in the semiconductor equipment market, Newport Corporation (Nasdaq:NEWP - news) today announced a cost reduction program and a reorganization of its business units geared toward achieving profitability during this period of weak demand........................
http://biz.yahoo.com/pz/020820/30877.html
15:42 ET Semi Equipment Book-to-Bill due out tonight : Deutsche is expecting a ratio of 1.19-to-1 (plus/minus 0.02) vs June level of 1.28... Goldman Sachs sees figure coming in at 1.15.
16:13 ET Agilent misses estimates (A) 17.44 +1.48: Reports Q3 (Jul) loss of $0.31 per share, $0.16 worse than the Multex consensus of ($0.15); revenues fell 23.5% year/year to $1.39 bln vs the $1.54 bln consensus; expects Q4 revenue in the range of $1.6 billion to $1.7 billion vs the current consensus estimate for revs of $1.66 billion.
It depends on who you talk to wecus. I say an extreme reading is an extreme reading & should be considered in conjunction with other sentiment indicators.
I think that the odds that todays close is the low for the next month or so are low though.
Whoo Hoo! Equity P/C closed @ .38.
To da moon & beyond!
Equity P/C = .44.
Lot's of exuberance out there.
13:20 ET Cisco Systems: fibre channel intro could weigh on Brocade, McData (CSCO) 14.59 +0.23: Merrill Lynch says that CSCO may be preparing to introduce its initial fibre channel switching products to its sales force next week at the co's annual kick-off meeting; although these products may not become generally available for sale until the end of 2002 or beginning of 2003 at the earliest, the announcement could weigh on BRCD and MCDT, depending on the details.
NTAP...... I sold my NTAP longs on the pop the last two days. I like it long again around the $8.45 area.
What are your thoughts LG?
"What's the symbol for that? Does it trade like stock?"
It's called Spiders - SPY - the QQQ's of the S&P.
http://finance.yahoo.com/q?s=SPY&d=t
Suspicious behavior on Wall Street
Commentary: Rate-cut predictions raise dark questions
By Paul Erdman, CBS.MarketWatch.com
Last Update: 1:08 PM ET Aug. 15, 2002
SAN FRANCISCO (CBS.MW) -- Everybody has been up in arms lately over CEOs exercising stock options and bailing out after they had pumped the price of their company's stock to heights that they knew full well were unjustified and thus not sustainable, leaving the rest of us holding the bag.
Similarly, Wall Street's research analysts have come under fire for hyping stocks to a gullible public while sending internal e-mail to each other referring to the same stocks as cats and dogs.
Maybe I'm getting paranoid, but it seems another group of Wall Street insiders has recently been behaving in a rather suspicious manner. I refer to the economists or pseudo-economists who work for some of our most stalwart investment firms
Morgan Stanley (MWD: news, chart, profile) heads the list. They told the investing community that the Fed was going to cut its target fed funds rate from 1.75 percent to 1 percent in the near future, starting with a half-point cut this week.
Were they just dumb? Or were they very clever?
If they wanted to create a rally out of very thin air by broadcasting such nonsense, they succeeded quite well, especially after Lehman Bros., Deutsche Bank and many of their other brethren on Wall Street jumped on the bandwagon. It might be quite educational to examine trading patterns during the rally. Did some of these firms take advantage of a selling opportunity of their own making?
Of course, a couple of days before the Fed meeting, the firms' self-serving calls and the market both cooled off as the views of more sensible investment pros gained the upper hand.
But now they're back at it again. The rate might have remained unchanged, they are now telling us, but the bias has shifted radically in favor of future rate cuts. In fact, the wording of the Fed's statement strongly suggests there's a good chance that the first such cut will come before the next Fed meeting Sept. 24.
Really? That's not the way I read it.
The Fed said that its overnight rate was at a level that continues to provide stimulus to the economy. This, coupled with the strong growth in productivity, "should be sufficient to foster an improving business climate over time."
While delivering this basic message, the Fed also stated the obvious. Two factors -- falling stock prices and corporate governance scandals -- had produced a temporary crisis in confidence that had resulted in slower-than-expected growth this summer. Until the danger stemming from these extraordinary sources abates, despite the confidence that the Fed has in the overall future path of the economy it, it feels that the risks are temporarily weighted toward "conditions that may generate weakness."
Does that latter statement mean the Fed is poised to cut rates within weeks?
Of course not. On many occasions in the past, the Fed has warned that the risk of economic weakness in the immediate future is greater than that of a revival of inflation without following through with any change in its key interest rate.
Barring some new external shock, that is what is going to happen this time around.
Economist and author Paul Erdman is a CBS.MarketWatch.com columnist.
http://cbs.marketwatch.com/news/story.asp?guid=%7BF5F64C60%2D4B58%2D4BE5%2DBCE1%2D7FDC4F3E72E8%7D&am...
I agree Bob. One thing I could not do was make the system work in the manner that normal folks would like to see. All I was able to do was expose it & give Uncle an iron clad case. Sadly, we suffer from bumbling, morally & ethically corrupt, bureaucratic leaders who drop the ball far too often.
That's why I say white collar crime pays. They guys I worked with often joked that with the knowledge we had, we should join the 'Dark Side'. We could become millionaires in a couple of years. Heck, even if we got stupid & got caught, we'd get to keep most of the stollen $$$ & maybe spend a year or two with other white collar criminals getting in shape for our wealthy retirement.
<edit> One thing these guys all had though was morals & ethics. We couldn't do it even though we knew how to do it, how far we could go & get away with it.
"The moral of the story is that without a strict ethical compass, executives run the real danger of rapidly getting onto the slippery slope, they get away with minor infractions, and by the time they wake up, they have become down to earth felons."
Zeev, I was an auditor for the Fed's for more than a decade. What you described above was the most common issue in every fraud case I worked. It usually started out with them misusing small amounts (from the overall size of the company's POV, but rather sizeable from the individual's POV) and they don't get caught.......... Or it's not worth prosecuting because the amount involved &/or the evidence make it unlikely to get a conviction. After all, these guys are quite intelligent. They knew how to play games, manipulate, etc.
They get away with it.
They keep doing it.
Then they get greedy & start taking or misusing more........... and get away with that too.......... so they go for more........ and more....... By the time I arrive, it's become real hard to hide anymore.
One other common thread was that it seems stealing/misusung company assets becomes addictive. These guys often continued their evil ways after I arrived & was hot on the trail. It did make my job much easier though.
Too bad they never really paid fully for their crimes.
Heck, he doesn't even need a high powered attorney. White collar crime pays & pays well........... with little down side risk. Steal millions, tens of millions, even hundreds of millions, get caught red handed (with clear, irrefutable evidence of guilt) & maybe do 2 yrs in a nice white collar prison. Oh, & don't worry about having to disgorge those profits either. Uncle Sam seems satisfied if he gets less than a penny on the dollar back.
Even though this is options expiration week, that P/C ratio is getting fairly extreme. And although the new high/low list is improving it is still nearly 3:1 new lows over new highs, or a fairly narrow advance so far.
This guy makes a good point..............
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=17881696
I think we get some weakness in the NAZ soon. Hope we see some decent numbers tomorrow with Building Permits, CPI, Core CPI, Housing Starts & Mich Sentiment-Prel.
Here you go...............
http://www.iqauto.com/cgi-bin/pain.pl
19:13 ET Qwest discloses US Attorney investigation (Q) 1.50 +0.39: Company announces that it believes the US Attorney's office is investigating matters that are also the subject of investigations by the SEC, Congress, and the US Attorney's Denver office.
18:08 ET S&P Index changes : Travelers Property Casualty (TAP) to replace Vitesse Semiconductor (VTSS) in the S&P 500 Index after close of trading on August 20... Rock-Tenn Company (RKT) will be added to the S&P SmallCap 600 Index, replacing Cygnus (CYGN) after close on August 15.
17:46 ET AOL certifies; 39 to go : AOL finally certified, leaving just 39 on our list; recently removed: OGE, TEN, APCC, DHR, AEE, MCH, BOW, RTN, TMPW, CKC. We have also removed five cos from our list that do not report on a calendar year basis and therefore may have been listed on the SEC list of Aug 14 deadlines by mistake: AV, GHVI, MGL, DSS, UGI.
17:13 ET Brocade saw growth in OEM business (BRCD) 15.05 +0.88: -- Update -- On call, says it experienced growth across all OEMS qtr/qtr and that the quarter was not back-end loaded... also notes that the pricing environment has remained incredibly stable... BRCD +0.75 at 15.80
17:06 ET Brocade maintains Q4 guidance (BRCD) 15.05 +0.88: -- Update -- On call, says it is comfortable with its current guidance for Q4 revenues of $160-165 mln (Multex consensus $162.8 mln), gross margins in the 60% range, and EPS of $0.10 (consensus $0.10)... separately, expects revenue from Advanced Fabric Services and Software to exceed the 15% target it set last quarter... BRCD +0.57 at 15.62
16:56 ET After Hours Indications : The late session tone is modestly negative. S&P futures at 918, trade two points below fair value while the Nasdaq 100 after hours indicator is lower by 1.7 points.