8:55AM Pru on Semis : Prudential says that Q4 marks the first qtr of a gradual recovery for semis and makes the following categorizations; best chance for Q4 earnings upside: NVDA and AMD with NVDA's momentum sustainable but not AMD's. Best 12-month ideas: NVDA, INTC, LSI, MU. Best long-term ideas: NVDA, TXN, XLNX. Best turnaround ideas: AXTI, ATML, ATYT. Raising price targets: ALSC $8 to $13, AXTI $16 to $20, CREE $18 to $26, NVDA $68 to $85, PSEM $18 to $23.
8:43AM Oak Tech (OAKT) 14.49: Signs OEM agreement with LG Electronics for bundle distribution of Oak's SimpliCD recorder software with its new DVD players.
6:59AM Jabil Circuit (JBL) 24.75: -- Update -- JBL says that the economic environment has deteriorated since its conference call in Sept and that it expects a slower recovery of its business due to the recessionary economy. As a reesult, co reduces Q2 earnings outlook to $0.06-$0.08 (consensus $0.14). For the full yr, sees EPS of $0.50-$0.60 and rev of $3.5-$4.0 bln (consensus estimates $0.69 and $4.33 bln). Expects to resume sequential growth in fiscal Q3 and Q4.
6:57AM Jabil Circuit (JBL) 24.75: Reports Q1 net of $0.11 a share, in line with consensus, vs yr-ago EPS of $0.24. GAAP profit for the qtr was $0.04. Revenues fell 21.6% to $884 mln (consensus $921 mln).
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