StockIceMan's Weekly Stock Pick
Week of July
15th, 2002
| Stock: |
Corvis
Corporation |
| |
|
| Ticker Symbol: |
CORV - Nasdaq -
Communications Eq. |
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|
| Buy: |
0.70 to 0.75 |
| |
|
| Sell: |
2.00 + |
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|
| Info: |
Corvis
Corporation designs, manufactures
and sells high-performance all-optical
and electrical/optical
communications systems. The
Company's optical products enable
a fundamental shift in network
design and efficiency by allowing
for the transmission, switching
and management of communications
traffic, entirely in the optical
domain. These products include
ultra-long-distance optical
signal transmission, reception
and amplification equipment, all-optical
and electrical/optical switching
equipment and software that
enable the creation of optical
backbone networks. By deploying
the Company's products, carriers
eliminate the need for expensive
and bandwidth-limiting electrical
regeneration and switching
equipment, significantly reducing
costs, increasing network
capacity and allowing them to
more quickly and efficiently
provide new services. |
| |
|
| Financial Info: |
For the three
months ended 3/30/02, revenue
fell 90% to $8.7 million. Net
loss decreased 30% to $71 million.
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| |
|
| Key Ratios: |
Current
Ratio: 9.85; Total Debt/Equity: 0.01,
P/E: N/A, Price/Book: 0.30, Price/Sales:
2.16; Cash Value/Share: 1.67 |
| |
|
| Share Info: |
There are 366.8
million shares outstanding with
254.3 million shares in the
trading float. 189 Institutions own
approximately 23.0 % of the
shares outstanding. There has
been 1 insider buying a total of
10,000 and 1 insider selling 350,000
shares in the last six months.
As of 6/10/2002, there were 1.97
million shares short.
Net Institutional Selling: 12.7
million shares: prior to latest
quarter. |
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|
| Articles: |
Corvis CEO to
Speak at CIBC World Markets
Annual Investor Conference |
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