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TODAY: Equity research columnist Dave Sterman examines the recent
public pronouncements of Nortel (NT) and Lucent (LU), and why some analysts believe that management of both companies might be engaged in some subtle mind games. Also below, Columnist John Filar Atwood explains why the focus in the cable TV industry will be on consolidation and EBIDTA growth. Finally, readers might note that Qualcomm (Q) figures prominently in our list of ten most recommended telecom stocks, and can follow up by reading a strong recommendation from Morgan Stanley by registering for the firm's free research trial--a benefit available exclusively to Multex Investor members like you. ======================== Sponsored by ========================= Make 50% to 100% Profits From the Coming Nasdaq Surge. Learn the secrets of ChangeWave investing. The strategy that has delivered 75% a year growth since 1995including the Nasdaq crash of 2000-2001. Sign up for Tobin Smith's FREE e-mail seminar "Profiting From Change" and get session #1 now at: http://www.changewave.com/reg/?p=a&;c=4CAW014 ============================================================== Below --------- Investment ideas Broker reports Top 10 Free and sponsored reports ============================================================== Investment ideas ----------------------------------------- 1. Looking ahead: Analysts predict solid 2002 for cable TV stocks Consolidation and EBITDA growth will be the year's major themes by John Filar Atwood, equity research columnist Investors relying on cable television stocks as a defensive investment were disappointed in 2001, as the group fell by about 20 percent, compared with the a drop of "just" 13 percent for the S&P 500. But investors who now abandon the industry may find themselves even more disappointed in 2002. Analysts are projecting a strong year for cable companies, predicting revenue growth of 13 percent and EBITDA growth of 14 percent. They also believe most of the stocks are more fairly valued heading into 2002 than they were at the outset of last year, when a late-2000 runup left them overpriced. Adding to analysts' enthusiasm is the recent completion of Comcast's (CMCSK) purchase of AT&T's (T) broadband unit. The merger underscores the value of broadband and its ability to offer voice, data and video over the same pipe. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5682&;nd=0108 2. Dept. of silver linings: Dampening the mood Why Nortel (NT) and Lucent (LU) may be playing the reverse- psychology game By Dave Sterman, equity research columnist Lucent Technologies (LU) and Nortel Networks (NT) delivered their twisted versions of holiday cheer in recent weeks, telling analysts that sales are slowing yet further, and admitting that forward-looking estimates will have to come down--yet again. But with their shares languishing in single-digits despite a broad year-end Nasdaq rally, analysts have been softening their positions, even to the point of seeing silver linings in these recent whipping-boy stocks. Indeed, some analysts believe that the beleaguered telecom equipment vendors may be deliberately dampening investor enthusiasm and even underreporting or delaying booking some revenues in order to boost March 2002-quarter results (and make for easier December 2002 comparisons to boot). Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5619&;nd=0108 3. International wires: Counter-consensus These four telecom services companies bear analysts' lowest ratings, but is that really bad news? By Ben Mattlin, equity research columnist Last week, we looked at underrated international telco equipment companies. Today, we're featuring four international telecom services companies traded in the U.S. that tote an average analyst rating of 4 ("underperform") or worse. Why would an investor want to consider a poorly rated stock? Let's put it this way: A highly rated stock means a lot of people already like it. If you like it too, you're going with the flow, following the pack. Me-too investing may do all right, but it's better to get there first, to blaze the trail. True value is added only if the investment opinion is different, counter- consensus, and of course, on the money. In other words, no guts, no glory. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5577&;nd=0108 4. Burden of proof: Portly telcos Telecom stocks trying to slalom through tough conditions while carrying a few extra pounds of debt By Dave Sterman, equity research columnist Telecom bankruptcies have been making headlines for most of the last year. Struggling upstarts that borrowed too much money had to fold up shop as the cash ran out and creditors came knocking. But debt problems of another sort are cropping up for much larger telecom firms. These companies are not candidates for bankruptcy, but staggering debt loads may hinder their operational flexibility and could even cause them to radically scale back their businesses. For equity investors, the situation certainly bears watching. Click here to read more: http://www.thetelecommanalyst.com/article.asp?docid=5628&;nd=0108 ======================== Sponsored by ========================= Get 10 FREE issues of Investor's Business Daily. More than just a newspaper, Investor's Business Daily is a unique research tool designed to identify winning stocks with insightful charts and ratings you can't find anywhere else.This offer carries no obligation and there's nothing to cancel. http://ibd.infostreet.com/cgi-bin/freeoffer.cgi?source=A362GGL ============================================================== Broker reports ----------------------------------------- 1. WHAT'S HOT?: The Cisco shift This report examines IP infrastructure spending, the next-gen Internet and network architecture layers, Cisco's strategic alliances and mobile business customer targets, and advanced e- services and content applications. (2-page report for purchase - $5) http://www.thetelecommanalyst.com/download.asp?docid=5676705&;nd=0108 2. EDITOR'S PICK: Daily fiber In the report, a review of the Comcast (CMCSK) deal and possible beneficiaries, the latest on JDS Uniphase's (JDSU) business, the disappointment at Terayon (TERN), a warning from Juniper (JNPR), and news from Level 3 (LVLT). (6-page report for purchase - $25) http://www.thetelecommanalyst.com/download.asp?docid=25884720&;nd=0108 ======================== Sponsored by ========================= It's here! The Multex Investor Toolbar Now you can get broker research, quotes, charts and company information from anywhere on the Web. http://www.athoc.com/wis/activate/activate.asp?pid=10279&;mktmsg=JA1 ============================================================== Free and sponsored reports ----------------------------------------- 1. FREE RESEARCH REPORT: WR Hambrecht comments on the retailer's numbers for Sprint PCS (PCS) and Verizon (VZ), maintaining its "buy" recommendation for one. The report also contains stock and valuation data, as well as a historical and projected income statement. This 4-page report is free to Multex Investor members for the next 72 hours. http://www.thetelecommanalyst.com/download.asp?docid=25936413&;nd=0108 2. FREE SPONSOR REPORT: Morgan Stanley recommends QCOM to investors with a long-term investment horizon and a high tolerance for risk. Read why the firm is so high on the stock, and what caveats it issues, by registering for the firm's free research trial. http://www.thetelecommanalyst.com/download.asp?docid=4708130&;sid=8&nd=0108 Top 10 ----------------------------------------- Top 10: Most recommended telecommunications stocks: This week's selection includes Qualcomm (Q), Sprint PCS (PCS), and American Tower (AMT) Presenting the latest valuation and analyst recommendation data from Multex's proprietary stock-screening tool applied to the universe of The Telecomm Analyst stocks. See tables sorting the top 10 stocks according to the highest average recommendation. http://www.thetelecommanalyst.com/article.asp?docid=1502&;nd=0108 ================================================================ Click here to register at Multex Investor: http://www.multexinvestor.com/registration/regWrapA1Basic.asp Click here for The Telecomm Analyst homepage: http://www.multexinvestor.com/Analysts/HomeTTA.asp If you'd like to learn more about Multex Investor, please visit: http://www.multexinvestor.com/welcome.asp If you can't remember your password and/or your user name, click here: http://www.multexinvestor.com/lostinfo.asp If you want to update your email address, please click on the url below: http://www.multexinvestor.com/edituinfo.asp ================================================================ To remove yourself from this mailing list, please REPLY to THIS email message with the word UNSUBSCRIBE in the subject line. 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