More from Briefing.com: Merrill Lynch downgrades 13 Semi Equipment names Merrill Lynch cuts its FY03 capex growth forecast to a range of 20-25% from 30%. Since performance of sector is mainly a function of order expectation, firm downgrades 13 stocks in the sector. While firm is maintaining its '02 forecast of 20% growth, Merrill believes a pause in orders in the 2nd-half has become more likely over the past few weeks... Being cut to near-term BUY from Strong Buy are AMAT, KLAC, LRCX, NVLS, ASYT, MKSI, VECO, ENTG... Downgraded to near-term Neutral from Buy are AEIS, TWAV, UTEK... Firm lowers long-term view on DPMI to BUY from Strong Buy and cuts EMKR near-term rating to Neutral from Strong Buy and long-term view to BUY from Strong Buy.
INTC Intel estimates and target cut by Solly (18.50) Salomon Smith Barney says recent news that Taiwanese mobile shipments are picking up and that DRAM prices are firming could signal the beginning of a modest seasonal upturn in PC components; however, some of the mix issues that impacted INTC in Q2 could carry into Q3, resulting in slightly lower than expected revs and gross margins; cuts 2002 est to $0.55 from $0.60 and 2003 est to $0.90 from $1.00, and lowers price target to $27 from $45.
6:56AM United Micro reports June sales (UMC) 7.78: Posts a 58.44% yr/yr increase in June sales to NT$6.711 bln. On a month/month basis, sales rose 1.2%. The results exceed Merrill Lynch's forecast of NT$6.38 bln. Notes that XLNX biz appears to have slowed in Q3, which may challenge firm's 12% ASP growth forecast.
6:52AM Semi equipment stocks edge lower on Merrill downgrade of 13 names :
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