IRF donna stock-from thompson I-watch:
25-Jan-01 12:11:22 International Rectifier (IRF), a manufacturer of power
management semiconductors, is drawing investors' attention after beating
forecasts and issuing a bullish outlook in its 4Q report. Notably, the upside was
in contrast to many other chip manufacturers that have issued negative outlooks.
Earnings surged 209% to $0.71 from the same-quarter last year, which was
$0.05 better than the First Call consensus forecast. Though JP Morgan was
impressed with the results, the firm remains cautious on concerns that
International Rectifier cannot remain immune from the documented slowdown in
the sector. Regardless, IRF has risen $1 9/16 to $50 1/2 on 1.8 million shares
today, above the daily average of 1.4 million shares. Over 55% of the volume
stems from block trades, more than double its daily average. There are some
sellers of size in the I-Watch pre- trade market just above current prices,
advertising a fair amount of sell and super sell messages, which is capping
today's gains. From a longer term perspective, the weekly chart shows that IRF
is creeping up the right side of 20-week base. Though the stock has some work
to do before completing its 20-week consolidation, which is often the impetus
for higher prices, IRF's behavior has been orderly thus far. Volume has
accelerated in the past 4 weeks, as prices have risen, which is constructive.
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