From Briefing.com: Sector Watch: Semiconductor Group is broadly lower with the losses being paced by INTC -4.9%, NVLS -5.1%, TER -4.3%, AMAT -4.5%, ALTR -5.1%, AMD -4.9% and TXN -4%. SOX index (at 324) has held at support in the 325/323 area thus far but need to see a push through 330 and 333 to improve the short term tone. Next support is at 316/315. Support for the Semi HOLDRs (SMH at 25.88) is at 25/24.85.
9:41AM Intel to place wireless LAN orders to Taiwan manufacturers (INTC) 18.13: -- Update -- Digitimes.com reports that INTC will visit Taiwan soon to source mini-PCI modules, which will use the co's latest wireless LAN chipsets designed to work with new "Banias" mobile processors; to date, INTC has adopted chips from ISIL and Atheros for 802.11b and 802.11a products, but demonstrated its own chipsets in June; in addition, sources tell Digitimes that since INTC's WLAN chips are still in an early stage of development, shipments could be pushed back to mid-2003. (See archive for more on the long-running INTC/ISIL WLAN story.)
9:30AM Semi capex expected to decline 22% - IC Insights : Digitimes.com reports that overall capex in the global semi industry this year is estimated to decline 22% YoY, larger than the previously-predicted decline of 15-22%, according to IC Insights.
8:01AM IBM widens lead in servers, Hewlett-Packard loses share : Reuters reports that IBM widened its mkt share lead to 29.6% in a shrinking server mkt in Q2, while SUNW showed the fastest rise in share (to 18.4% from 16.6%), according to the latest survey from Gartner; DELL increased its share to 7.2% from 6.5%, while HPQ lost share, going to 24.7% from 27.4%.
7:25AM Intel sees modest sequential earnings growth (INTC) 18.13: Reuters reports that CEO Craig Barrett told a news conference that the company sees modest growth in Q3 over Q2 and that it hasn't "seen much improvement in the computing environment because companies are not investing." (Current Q3 consensus is $0.13. Excluding certain items, INTC earned $0.11 in Q2)... Also, in an interview with Bloomberg television, Barrett indicated that he was not confident a holiday season uptick would materialize this year.
From yesterday: Genesis Microchip announces stock repurchase (GNSS) 8.64 -0.06: Company's Board of Directors approves stock repurchase program, authorizing repurchase of up to $25 mln of Genesis' common stock.
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