John,
I'd be surprised if the sector leaders don't move noticeably upward this week and this quarter. I think we're going to see the January Effect in October, then again in November, then again in December, then again in ... <vbg>
Ian.
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Chip-Equipment Stocks Rise In Late Session Trading
NEW YORK -- Shares of Novellus Systems Inc. (NVLS) gained more than 6% in late trading Monday after the chip-equipment company reported third-quarter earnings were 8 cents higher than Wall Street consensus estimates.
Novellus shares recently traded actively at 77 7/8, Reuters Instinet said, after closing the regular session at 72 15/32. Novellus shares gained 2 31/32, or 4.3%, in Monday's Nasdaq trading.
After Monday's bell, Novellus posted third-quarter earnings of 54 cents a share. Analysts' consensus estimate for Novellus' third quarter had been 46 cents a share, according to First Call/Thomson Financial. Its third-quarter profit was more than twice that of the year-ago quarter.
After-hours traders also bid up shares of semiconductor equipment companies Applied Materials Inc. (AMAT) and KLA-Tencor Corp. (KLAC).
According to Instinet, shares of KLA-Tencor were recently actively trading at 73, two points ahead of their Nasdaq close. During the regular session, KLA-Tencor shares posted a more modest gain of 1 11/32 or 1.9%.
Shares of Intel Corp. (INTC) were recently trading at 77 1/2, one point above their Nasdaq close. Intel shares gained 13/16, or 1.1%, during the regular session.
Applied Materials shares were recently trading actively at 84 3/8, Instinet said. Applied Materials' stock posted a 1/2 point gain to close Nasdaq trading at 82 3/4 Monday.
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