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THE STANDARD'S S T O C K G R O K What Financial Reporters Think of Wall Street ===================================================================== For money & markets news, visit: http://www.thestandard.com/subject/finance/ Friday, June 1, 2001 TOP GROKS: * What's Your Pleasure? Sorry, No Tech Rebounds * Palm? Please - So Uncool! * Analysts as Demons, Part 273 PUNDITS SAY THE DARNDEST THINGS: * Rob Walker, Slate: On the trail of a 'merger of equals' * David Futrelle, Money.com: It's deja vu all over again /=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= advertisement=-=-= THE STANDARD GOES WIRELESS! Now you can get The Standard's cutting edge Internet Economy news and information delivered straight to your Web-enabled phone or pager. Whether you log on for breaking news, stock quotes, or company and people information, you can now retrieve critical intelligence on the Internet Economy anytime, anywhere you go. Just enter "thestandard.com" on your key pad to get The Standard's powerful content. http://click.email-publisher.com/oaaacdsaaP8mxbVDzeiaaaaczb/ =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=/ TOP GROKS ~~~~~~~~~ What's Your Pleasure? Sorry, No Tech Rebounds While not quite as animated as the office pool predicting the next alcohol bust for a presidential offspring, stock scribes' recent banter over the future of tech stocks concluded that a bust of a different kind is already here - and isn't going away anytime soon. So what if tech stocks are up 30 percent or so since mid-April? Jawboning over what the market might do in the short term is "about as intellectually stimulating as reading the phone book," kvetched Motley Fool's Bill Mann. As for forecasting the market's next moves, "I personally don't give a damn," Mann chest-thumped. "That's like worrying about who is leading at the one-mile mark in a marathon." Newsweek columnist Jane Bryant Quinn pooh-poohed bright-eyed investors who treat tech stocks "as if they were lottery tickets - hoping to win your money back by a lucky draw." Better not hold your breath, she warned. "Historically, bubbles don't pop and reinflate," James Stack of InvesTech Research told the Newsweek columnist. Read the full Grok: http://www.thestandard.com/article/0,1902,26841,00.html?nl=stg ---------------------------------------------------------------------- Palm? Please - So Uncool It wasn't that long ago that all of Wall Street was cheering for Palm, notes SmartMoney.com. The same could be said of the media. But in the two weeks since Palm announced that - whoops - fourth-quarter revenues would sneak in at less than half of the $300 million-ish predicted, Palm seems to have run out of buzz. Which do business scribes dislike more, Palm's product or the company? It's a toss-up. On Yahoo's FinanceVision, commentator Caleb Goddard bragged about a phone-number swapping session where his pen-and-paper combo had the job done long before his Palm Pilot-wielding friend had even figured out how to switch from the keyboard to graffiti mode. As for reading on the dinky screens, forget it. Read the full Grok: http://www.thestandard.com/article/0,1902,26843,00.html?nl=stg ---------------------------------------------------------------------- Analysts as Demons, Part 273 What's next, a Securities Analyst Registry? Neighbors can log on to find out whether one of these tainted individuals is residing near them. Maybe local police can hand out flyers. Maybe it's time to resurrect the scarlet A, this time for Analyst. Round one of the media's post-heyday coverage of Net analysts had a decidedly deconstructionist angle: An up-close-and-personal look at the way the ex-heroes had spent their bubble days. The early phase of round two has continued the dissection, but with a twist: Rather than report more me-too exposes of naughty analyst behavior, business journos are covering the regulatory investigations into those naughty analysts. It's the same technique the media used with Princess Diana. Those mags that purported to be above the slavish post-mortem coverage simply worked in their share of Di photos by casting their coverage as a look at the media crush. Read the full Grok: http://www.thestandard.com/article/0,1902,26846,00.html?nl=stg ---------------------------------------------------------------------- PUNDITS SAY THE DARNDEST THINGS ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Rob Walker, Slate Upshot: On the trail of a "merger of equals." Do the Math: Lucent Technologies wanted a merger with Alcatel, but the all-stock transaction reportedly would have dealt Alcatel shareholders 58 percent of the new company, and Lucent 42 percent. That looked like an acquisition to everyone but CEO Henry Schacht & Co. Seriously, Have You Ever Seen One? "Yes, the merger of equals, an interesting creature, one that is captivating in the abstract but elusive in real life." What Was Henry Thinking? After all, someone has to have the top job, and then there's the issue of how to divide board seats. "Variations on this not-shocking discovery - that in any business merger, one side is going to end up dominant - are played out constantly." Beggars Can't Be Choosers: "You would think that Lucent and Schact would be highly motivated to close the deal and to recognize that they were not exactly dealing from a position of great strength. In short, you'd think they'd realize that they were being acquired." Lucent's Acquisition Epiphany http://slate.msn.com/cx/moneybox/entries/01-05-30__109015.asp ---------------------------------------------------------------------- David Futrelle, Money.com Upshot: It's deja vu all over again. Once Burned, Never Shy: Didn't the tech crash cure most investors of the idea that there are no second chances? No way. The recent rally saw the return of bubble-thinking in all of its dubious glory, as investors plunged back into an assortment of momentum stocks simply because they were going up. Tied to the Rails: When Morgan Stanley analyst Jay Deahna recently issued the not-so-subtly titled report "The Train has Left the Station," he created a mini buying frenzy for Teradyne and LAM Research as investors scrambled to get aboard before it was too late. Too late for what? The stocks Dehna mentioned are about even with where they were. Mea Culpa: "My point here isn't to take pot shots at anyone's stock picking ability (after all, I'm the guy who recommended Sun last Friday). The point is that you should base your investment decisions on a stock's fundamentals - not on fear or greed." The Tech Express Goes Local http://www.money.com/money/depts/techinvestor/archive/010531.html /=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= advertisement=-=-= **The Standard's new COMPANY INDEX** Find information about hundreds of companies in our new COMPANY INDEX. Browse through the alphabetical listings, industries and categories, or perform a search to find the company you're looking for. The Company Dossier hosts articles, a company profile, stock information and financial overviews, key players and contact information. http://click.email-publisher.com/oaaacdtaaP8mybVDzeiaaaacAb/ =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=/ MORE LINKS ~~~~~~~~~~ Cyberian Winds Blind PC Connection http://www.msnbc.com/news/580762.asp?cp1=1 Do AOL Insider Sales Belie the Buyback? http://interactive.wsj.com/articles/SB991170361420468941.htm (Paid registration required.) Breaking Up Is (Still) Hard to Do http://www.msnbc.com/news/578467.asp?cp1=1 What's Next for Microsoft? http://www.cnbc.com/010530plotkin-stocks.html Talking Heads' Home on Hold http://www.nypost.com/business/31497.htm No Summer Romance in Store for AT&T Wireless http://www.thestreet.com/tech/telecom/1444593.html The Prodigal Dot-Coms' Return http://www.businessweek.com/magazine/content/01_23/b3735094.htm Venture Capitalists Seek Less Adventure http://www.usnews.com/usnews/issue/010604/biztech/venture.htm Rich Prospects for Online Luxury Stores http://www.forbes.com/2001/05/29/0529luxuryshopping.html STAFF ~~~~~ Written by Deborah Asbrand (dasbrand@world.std.com). Edited by Suzan Revah (srevah@thestandard.com). GET THE MAGAZINE ~~~~~~~~~~~~~~~~ 4 RISK-FREE issues at this URL: http://click.email-publisher.com/maaaclmaaP8NtbVDzeib/ GET MORE NEWSLETTERS ~~~~~~~~~~~~~~~~~~~~ The Standard newsletters cover the media, stock market, e-commerce, music, law and more. To SUBSCRIBE to other newsletters, click here: http://click.email-publisher.com/maaaclmaaP8NubVDzeib/ To unsubscribe, click here: http://thestandard.email-publisher.com/u/?bUrKBp.bVDzei ADVERTISING INFORMATION ~~~~~~~~~~~~~~~~~~~~~~~ For more information on advertising in The Standard Newsletters, contact: Erik VanderKolk (evanderkolk@thestandard.com) FEEDBACK AND PROBLEMS ~~~~~~~~~~~~~~~~~~~~~ Send letters to the editor to letters@thestandard.com. Please contact us with any problems that arise: http://www.thestandard.com/service customerservice@thestandard.com You can also contact us via phone or mail: Standard Media International, Customer Service 866-776-9890 (phone) Copyright 2001 Standard Media International
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