From Briefing.com: 12:27AM Applied Materials says spending should accelerate in 2H02 (AMAT) 41.69 +0.38 (+0.9%): -- Update -- During their presentation to the BofA Technology 2002 conference, the CFO says that capital spending will lag the semi mkt recovery, but spending growth should accelerate in 2H02 (noted that wafer fab revs should grow 53% in 2H02 over 1H02). While this news may not be new, it adds to the growing chorus within the semi industry saying that the cycle bottomed around September 2001.
11:03AM SOX Intraday Technicals : -- Technical -- Despite solid sell pressure on the Nasdaq, semiconductors are higher as a group with the SOX posting an intraday gain of 0.3%. Currently trading at 534, look for important resistance at 542 which approximates its 20-day exponential moving average and its 50-day simple moving average. To the downside, the index has notable support at chart congestion in the area of 520. Notable gainers include INTC +1.1%, AMAT +1.5%, NVLS +1.7%, KLAC +2.2%.
10:58AM Sector Watch: semis, retail, banks, drugs show strength : Semiconductor equipment is one of the few strong sectors in tech. Positive action in names such as KLAC (+2%), NVLS (+1.6%), AMAT (+1%) is supporting the SOX (+0.4%). Other sectors finding interest include Retail (+1%), Banks (+0.9%), Drugs (+0.5%)... Individual tech stocks demonstrating relative strength include MSCC (+5%), QCOM (+1.8%), NVDA (-0.1%), ADCT (+3.8%), ESST (+2.5%), NEWP (+2.3%)
10:37AM Nasdaq Composite Intraday Technicals : -- Technical -- The Nasdaq has broken below support at 1879 and is tagging its lowest intraday levels in over two months. At current levels, the index is testing support in the area of 1868/1870 which approximates the lower end of its 10 and 20-day Bollinger bands. On a clean break lower, look for subsequent support at 1855. To the upside, look for initial resistance at 1879 followed by additional overhead in the range of 1888/1892.
Like this a lot Don Don<ggg>
Coverage has been initiated by Thomas Weisel on AMAT.
9:52am 01/30/02 - Applied Materials started at 'buy' at Thomas Weisel - CBS MarketWatch.com
Same news also listed at Briefing.com. Target price also listed there as $75 per share.
Coverage was also initiated by Thomas Weisel at various levels for KLAC(strong buy), LRCX(attractive), TER(mkt perform), NVLS(buy) and PLAB(buy).
finance.yahoo.com^SOXX+QQQ&d=c&k=c3&a=r14&p=b,v&t=3m&l=on&z=m&q=c
Thanks, RtS |
