Arnie Berman
Arnie Berman
currently dire nearly prices stock technology
nearly as dire as technology stock prices currently reflect.
asset candidates cash flows healthy higher potential prices reflect several stable stock
LBO candidates have several characteristics in common: healthy businesses, stock prices that reflect little respect, stable cash flows, and potential catalysts to still higher cash flows (cost cutting, asset sales, etc.),
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Software companies have a nasty habit of doing so much of their business in the last moments of the quarter that they typically only confess once the quarter has come to a close.
capital markets week
One week does not a capital markets make.
announced companies deals evidence merger news provides recent strongest wave willing
This recent wave of merger news provides some of the strongest evidence yet that companies are willing to do some long-term planning. The kind of deals getting announced not just bolt-on acquisitions but transformational deals,
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Neither bride nor groom is particularly young, attractive or reeking of potential.
aware bond cash chances flows improved investors irrelevant market money owed
The bond market is keenly aware that cash flows have improved and that the chances of investors getting back money they are owed is better. That's not at all irrelevant to stockholders,
bad best great news reactions year
The best news this year has been great reactions to bad news,
december either estimates growth higher looks negative period positive row saw third
It looks like we'll have the third period in a row where revisions to estimates are positive. And top-line growth rates, which were negative for a while, will be positive for the third period in a row and will be higher than we saw in either December or March.
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Sun has not gotten its cost structure under control and is more of a strategic muddle.
attractive bond companies debt equipment market present publicly rally relative sector sending signal technology traded
The outsize rally in the publicly traded debt for companies in this sector suggests that the bond market is sending a signal that the communications equipment sub-sector is particularly attractive at present relative to other technology sub-sectors,
associated best delivering downside earlier growth industry intel news pc positive rest returned surprises technology tends upside
A lot of the best news is associated with the PC industry. Intel has been not just a bellwether in the sense that it's big, but in the sense that technology as an industry has returned to positive year-over-year growth rates, and technology as an industry tends to be delivering more upside surprises than downside surprises these days. Intel started to do that earlier and more substantially than the rest of technology.
companies delivering few group growth money narrow positive tech tends
You've had a narrow group of tech companies that have been delivering positive and accelerating growth characteristics and money tends to get concentrated in those few companies that are doing that.
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This marriage of Hewlett and Compaq that's finally been allowed to be consummated reminds me a lot of what would happen if there were a union between Prince Charles and Camilla Parker Bowles.