Hi Justa,
Look at the ML upgrade today. The stock sunk like a stone out of the box before Greenspan spoke word one. When has an upgrade have that reaction? Upgrades used to be good for a spike at the open and a definite three or four points at the end of the day. We had to struggle today for over a point. Wow ... some upgrade Markie !! And NVLS, which was part of the upgrade, was up an 1/8th. KLAC, also part of the upgrade, was down for the day. ASML matched AMAT on a percentage basis. CYMI was the only one that did well and I doubt the catalyst was the upgrade.
IMHO the stock did not move because there was no upgrade that one can find today except for an excerpt of Mark Fitzgerald's comments which may have been made during their strong buy reiteration on the 20th, -http://www.nordby.com/returnjag.asp?SYMBOL=amat - the latest upgrade I saw was by Josepthal & Lyon from hold to buy. - biz.yahoo.com
It doesn't help investor's sentiment any when an aside from an analyst is published full blast without a follow up PR from the brokerage.
Comments from Merrill Lynch helped to raise shares of semiconductor equipment makers. Analyst Mark Fitzgerald said calendar year 2000 might stronger than he first anticipated, adding that if chip demand continues through the second half of the year at its current pace, there may be a shortage of capacity for the 0.25 micron chip.
As a result, Applied Materials (AMAT: news, msgs) gained 1 1/4 to 68 15/16 and KLA-Tencor (KLAC: news, msgs) was 3/16 lower at 63 13/16. Novellus (NVLS: news, msgs) was up 1/8 to 57 1/16 and Teradyne (TER: news, msgs) slipped 1/4 to 68 5/8.
cbs.marketwatch.com
Of course I may be wrong as I always am.
Best,
SF |
