8:47AM SG Cowen on Semi Equipment : Believes next semiconductor capital equipment up-turn will occur in next 6 months, rather than consensus of 2H02 or later; cites across the board recovery in autos, electronics, wireless, and pick-up in Taiwan fabs. While stocks overbought, short-term focus should be on co's with most exposure to tech shifts and address more than one mkt: KLAC, NVLS, LRCX.
7:52AM Novellus (NVLS) 40.66: UBS Warburg cautious on NVLS, sees current order guidance of flat-to-up 20% as vulnerable; expects company at Nov 29 meeting to guide to low end or below current order guidance, as channel checks indicate continuing industry order declines into Dec. However, expects co to maintain Q4 rev ($200-215 mln) and EPS (+$0.11) guidance.
7:35AM Intel (INTC) 32.31: Bloomberg report that company may not be able to meet demand for P4 processors is being talked about on trading floors this morning. However, company apparently not willing to say whether strengthening P4 demand is an indication that the PC market is rebounding.
7:28AM Jabil Circuit (JBL) 27.78: Prudential downgrades to HOLD from Buy, lowers FY02 cash EPS est to $0.66 from $0.70 (below mgmt guidance of $0.75-$0.80). Believes valuation is high, and expects flattish rev trend in Q2 and possible delays/reductions of several large new programs in 2H02.
finance.yahoo.com |
