Paul,
I'm only posting this because I love the title, journalism at it's best:
Chip stocks go rancid
By Janet Haney, CBS.MarketWatch.com
Last Update: 5:53 PM ET Oct 2, 2000 NewsWatch
Latest headlines
NEW YORK (CBS.MW) -- After starting out the week with positive signs of growth, semiconductor stocks slumped Monday, with shares of chip equipment makers getting hit hard in trading.
The Philadelphia Semiconductor Index ($SOX: news, msgs) lost 2.1 percent to 833.37, marking its eighth-straight day of trading under 1,000.
Texas Instruments (TXN: news, msgs), though, saw its shares gain over 5 percent Monday after unveiling an Internet audio chip that the technology giant promises will boost playing time on hand-held gadgets. See full story.
Chip gear makers Novellus Systems (NVLS: news, msgs) and KLA-Tencor (KLAC: news, msgs) shares both dropped nearly 8 percent Monday.
Meanwhile, Intel (INTC: news, msgs) shares fell $1.44 to $40.13, after the company divulged on Friday that it has scrapped plans for its Timna microprocessor for low-cost computers.
Additionally, Netherlands-based chip equipment maker ASM Lithography (ASML: news, msgs) said it will buy rival Silicon Valley Group (SVGI: news, msgs) for $1.6 billion in stock. See full story. The stocks, which are not components of the Philly semi index, were mixed in trading.
Memory component maker Micron Technology (MU: news, msgs) shares fell $3.63 to $42.38 two days ahead of its fourth-quarter results. |
