From Briefing.com: Nasdaq holds above recent lows -- Technical -- The index is still in the bearish camp but it has thus far held above the lows of the last two weeks (1323 and 1315). Initial resistance is in the 1348/1350 area with the top of today's gap at 1356. It will, however, take sustained follow through beyond the 1360/1370 area to improve the current bias. A reversal back through 1336 and 1330 argues for a run at the recent lows.
9:59AM SOX edges into positive territory -- +0.6%
9:36AM Semi Equip maker DPMI gaps down 22% on downgrade, guidance 21.20 -5.98:
9:28AM Atmel downgraded at Prudential (ATML) 5.02: -- Update -- Prudential downgrades to HOLD from Buy after the co reported a weaker-than-expected Q2; firm is concerned about how late ATML has been to adjust its costs, and believes it is prudent to remain on the sidelines until the co is able to reduce its costs; cuts price target to $6 from $12.
8:13AM Sun Microsystems downgraded at CSFB (SUNW) 5.80: CSFB downgrades to HOLD from Buy due to cautious guidance, lingering concerns with Unix server mkt fundamentals, and inconsistent global IT spending patterns; cuts FY03 rev/EPS ests to $13.5 bln/$0.08 from $14.4 bln/$0.16, and cuts 12-month fair value est to $5 from $20.
8:08AM DuPont Photomasks, Photronics downgraded at CIBC : CIBC downgrades DPMI and PLAB to UNDERPERFORM from Buy and Strong Buy, respectively, due to pricing pressure and softness in demand for photomasks; present concern is that price wars in photomask markets are notoriously difficult to quantify, both in their duration and magnitude.
8:07AM Dupont Photomask raises Q4 guidance; Q1 outlook below consensus (DPMI) 27.18: Expects to posts Q4 net of about break even (before items) on revenues of approx. $94.5 mln. DPMI had provided guidance of a $0.02-$0.10 loss on revs of $87-$92 mln. Multex consensus is -$0.04 and $89.98 mln. For Q1, co sees EPS ranging from ($0.20) to $0.02 on revs of $87-$94 mln (consensus $0.08 and $96.57 mln.
8:02AM Infineon reports smaller quarterly loss (IFX) 17.10: Chip maker advances 2.5% in Germany after reporting a Q3 loss of Euro 0.11 compared with a loss per share of Euro 0.16 in the previous qtr. Revs rose 1% sequentially and 10% yr/yr to Euro 1.4 bln. Sees signs of moderate improvement in demand for 2nd-half, but expects strong pricing pressure in most of its business groups.
7:59AM McDATA upgraded at Merrill Lynch (MCDT) 8.30: Merrill Lynch upgrades to BUY from Neutral after the co beat Q2 expectations; firm is satisfied that MCDT is 1) able to deliver 2Gb product, 2) sell into the high-end in this tough economic environment with some sustainability, and 3) compete vs BRCD's SilkWorm 12000; raises 2002 rev/EPS ests to $318 mln/($0.08) from $285 mln/($0.17) and 2003 to $445 mln/$0.14 from $395 mln/$0.06; sees upside to $10.
6:42AM Plexus Corp matches EPS consensus; guides below Q4 mean (PLXS) 15.05: Posts Q3 net of $0.07 a share, in line with the Multex consensus. Revenue declined 7.3% to $234.75 mln (consensus $236.39 mln). For Q4, co sees EPS of $0.05-$0.08 on revs of $225-$235 mln (consensus $0.09 and $246.3 mln).
finance.yahoo.com
That was a big change in guidance from the usually positive SEMI.
Thanks, RtS |
