[ We need the Chips to participate to go Higher on the Naz ] Micron powers charge by chip stocks
By Janet Haney, CBS.MarketWatch.com
Last Update: 11:51 AM ET Aug 14, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) -- Semiconductor stocks were on the move Monday morning, powered by a rise in shares of Micron Technology, while personal computer issues faltered.
Today on CBS MarketWatch
Dow, Nasdaq hover near unchanged mark
Bond market slips
Broadcom buys NewPort in $1.2 billion stock deal
News Corp. bids for Chris-Craft
Tech Report: Agilent to cut 450 jobs
More top stories...
CBS MarketWatch Columns
Updated:
8/14/2000 10:31:12 AM ET
The Philadelphia Semiconductor Index ($SOX: news, msgs), which tracks shares of 16 chip and chip equipment makers, gained 2.8 percent.
Words from Salomon Smith Barney lifted Micron Technology's (MU: news, msgs) stock after the investment firm increased its fourth-quarter earnings-per-share estimate, as well as its outlook for fiscal 2000 and 2001.
The brokerage, which met recently with Micron management, reported that the maker of computer-memory components recorded a jump in unit shipments for the first week of August vs. the first week of July. Shares of Micron gained 4 to 79 5/8.
Chip equipment makers also sought higher ground as KLA-Tencor (KLAC: news, msgs) popped 2 15/16 to 47 5/8 and Novellus Systems (NVLS: news, msgs) added 4 11/16 to 49 1/16.
However, the Goldman Sachs Computer Hardware Index ($GHA: news, msgs) dipped 0.6 percent.
Sun Microsystems (SUNW: news, msgs) lost 3/4 to 111 7/16, and hard-drive specialist Seagate (SEG: news, msgs) fell 2 3/8 to 49 1/8.
Hewlett-Packard (HWP: news, msgs), scheduled to report fiscal third-quarter results on Tuesday, saw its shares edge up 1.6 percent. Analysts surveyed by First Call expect the tech giant to earn 85 cents a share, vs. 66 cents in the year-ago period.
cbs.marketwatch.com
Other .... LSI biz.yahoo.com
Did you see this ??
Thursday August 10, 5:15 pm Eastern Time
Vishay sets 5 million share buypack
NEW YORK, Aug 10 (Reuters) - Electronic components maker Vishay Intertechnology Inc. (NYSE:VSH - news) said on Thursday its board of directors set a 5 million common share buyback.
``We believe our shares are undervalued at the present time in the market and represent an attractive investment,'' chief executive Felix Zandman said in a statement.
``The decision to repurchase our shares reflects our optimism for the long-term performance of our Company.''
Vishay will lend money at market rates to its board members and certain managers to allow them to purchase stock on the open market, the company said.
Vishay shares closed down 13/16 at 29 on Thursday on the New York Stock Exchange. The stock has traded between 12-3/8 and 62-5/8 in the past year. |
