Stan look at the time the article was put out on the Internet. AMAT had barely opened at 9:53AM with a 15 minute delay and you get:
biz.yahoo.com
Tuesday March 26, 9:53 am Eastern Time
Gerard Klauer Cuts Applied Materials, Cites Valuation
By: Donna Fuscaldo, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Gerard Klauer Mattison slashed its investment rating on shares of Applied Materials (NasdaqNM: AMAT - news) Inc. (AMAT) to neutral from buy, Tuesday citing valuation.
Analyst Jack Geraghty said in a research report that while Applied Materials is still the leading chip equipment maker, the stock is reaching his $55 12- month price target.
"At current trading levels, AMAT's share price is appropriately valued and it deserves a neutral rating," wrote the analyst.
According to Geraghty, the semiconductor-equipment cycle is starting to rebound off its bottom. But even though equipment orders are starting to build, the analyst said its already reflected in Applied Materials share price.
The analyst maintained his earnings estimate on Applied Materials for 2002 and 2003. Geraghty is calling for earnings of 38 cents a share in 2002 and $1.50 a share in 2003.
As for the company's fiscal second quarter, the analyst expects Applied Materials to earn six cents a share and post revenue of $1.1 billion.
Shares of Applied Materials were recently trading down 0.7%, or 33 cents, to $ 50.99 on volume of 380,900. Average daily volume is 18 million shares.
Officials at Applied Materials weren't immediately available for comment.
-Donna Fuscaldo, Dow Jones Newswires; 201-938-5253; donna.fuscaldo@ dowjones.com
Of course you probably were just joking.
If so sorry...
RtS |
