KLA-Tencor Corporation (KLAC) Message Board

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Technology Stocks : KLA-Tencor Corporation (KLAC)

KLAC 1,194

-1.1%

Nov 7 9:30 AM EST

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To: Howard Bennett who wrote (1508)	10/7/2000 9:01:00 PM
From: Math Junkie	Read Replies (1) of 1779

I am astounded at the careless way you throw out accusations with no real information. I worked for KLA-Tencor for several years, and while I'm sure that no one is perfect, the broad statement that their management is "untrustworthy" is ludicrous. Yes they do practice "earnings management" to try to smooth out lumpiness in the business. Yes, they know the business is cyclical. In any case, it's irrelevant because there has been no sign of weakness in their earnings yet. The current weakness in their stock price was not caused by company-specific news - it was caused by what is going on in the stock market as a whole, the fact that this is a high-beta sector, and the fact that there have been some earnings warnings on the part of companies like Apple, Dell and Intel. I think you're way over-reacting here. I don't think they could manipulate the stock price if their lives depended on it. I have looked at the published reports of insider sales from time to time, and while it's clear that they have a good idea of when their stock is expensive and when it is cheap, I have seldom seen them get out at the top.

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