Semi rally part Deux:
cbs.marketwatch.com
KLA, Novellus send hardware shares upward
By Janet Haney, CBS MarketWatch
Last Update: 10:34 AM ET Dec 17, 1999 Silicon Stocks
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NEW YORK (CBS.MW) -- Personal computer and chip stocks rose Friday encouraged by gains in KLA-Tencor and Novellus, as well as others in the semiconductor group.
The Philadelphia Semiconductor Index ($SOX: news, msgs) advanced 3 percent and the Goldman Sachs Computer Hardware Index ($GHA: news, msgs) edged up 1 percent.
Chip equipment makers boost shares
KLA-Tencor shares were lifted by 7.8 percent after the chip equipment maker announced a 2-for-1 stock split, to be paid on or around Jan.18 to stockholders of record on Jan. 4. KLA (KLAC: news, msgs) shares jumped 7 1/4 to 100 1/8.
Novellus also contributed to the gains of chip equipment stocks following Merrill Lynch's new price target objective of $120 on the stock. The San Jose, Calif.-based Novellus (NVLS: news, msgs) saw its shares jet ahead 7 15/16, or 10.6 percent, to 84 5/8.
Applied Materials (AMAT: news, msgs) rose 3 1/16 to 113 11/16 and Teradyne (TER: news, msgs) gained 9/16 to 49 7/8.
The world's largest chip maker, Intel (INTC: news, msgs), moved up 1 7/16 to 81 11/16. Advanced Micro Devices (AMD: news, msgs) advanced by 1/8 to 29 5/8.
Micron Technology (MU: news, msgs) was the only loser in the sector, slipping 1 1/2 to 71 1/2.
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