Arnie Berman
Arnie Berman
basis capital companies cyclical fact faster good investing overall pace rate recover sound spending technology terribly
How these companies sound isn't a terribly good basis for investing right now, ... The fact is that in an incremental cyclical recovery, capital spending will recover at a brisker pace than the overall recovery, and technology spending will recover at a faster rate than capital spending.
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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,
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The best news this year has been great reactions to bad news,
control cost gotten strategic structure sun
Sun has not gotten its cost structure under control and is more of a strategic muddle.
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.
company far ibm looks solutions though time
So far it looks good. It looks as though IBM is the company that has the right solutions set for some time now.
content context happened intel line numbers whisper
The Intel numbers were actually in line with the whisper numbers, so the content is not so surprising, but the context is excellent, when you look at what happened in the quarter.
brutal chose company example ibm lower missed number quarter results spending technology whose worse
The first quarter was so brutal for technology spending that even IBM missed the number and chose to lower the bar. But here you have an example of a company that's very big and whose results were not, in any respect, worse than expected.
companies employees focus operating reducing
The first focus for companies is reducing operating costs, squeezing the most out of your employees and restraining headcount.
anecdotal business closed evidence key postponed question whether
The key question is whether or not business that's not getting closed is representing postponed business or forgone business, ... The anecdotal evidence is indicating that business is probably postponed.
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The latter stage of an economic recovery, where head count is rising and productivity is starting to fall, is the best for technology spending, and that's where we will be in 2006. Business leaders start thinking more about technology and less about questions like capacity expansion or how long the recovery will last.
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I think that is clearly helping Microsoft, ... When I look at this big move, I am really thinking that people are afraid of missing out on something. That is what we are seeing here.
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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,
came companies crunch time tough tougher week whose
If Oracle, when it came to crunch time in February, had a tough time getting new business, then companies whose crunch time is this week will have a tougher time still.