From Briefing.com: 8:52AM Phoenix Tech guides Q3 revs below consensus (PTEC) 5.96: Company revises Q3 guidance, now sees revenue of $20-21 mln, vs Reuters Research consensus of $24.6 mln, based on decrease in co's traditional PC BIOS revenues.
8:50AM Mattson receives multi-million dollar order for multiple Aspen III ICP Strip systems (MTSN) 3.28:
8:46AM Cisco Systems expects IT recovery within months -- Reuters (CSCO) 18.73: Reuters reports that Cisco CEO John Chambers expects the IT market to recover within months. "In the next two to four months, companies' spending on IT products will recover. In two to six quarters, that will translate into a recovery in investments by Internet and telecom providers," Dutch daily Het Financieele Dagblad quoted Cisco Chief Executive John Chambers as telling reporters in San Jose, California.
8:05AM Asyst upgraded at Merrill Lynch (ASYT) 7.80: Merrill Lynch upgrades to Buy from Neutral, citing the following factors: 1) co took mkt share away from an incumbent competitor with yesterday's UMCi deal, and firm estimates ASYT now has over 50% of 300mm fab AMHS wins; 2) the co's aggressive cost restructuring should help provide significant margin leverage; and 3) valuation already discounts near-term pain. Target is $13.
7:36AM Intel target raised to $29 at UBS (INTC) 23.15: UBS reiterates their Buy rating and raises their target to $29 from $26 ahead of the co's Q2 earnings on July 15; while firm does not expect INTC to materially beat their Q2 sales est of $6.7 bln, they believe that Centrino results will be strong and could exceed their ests for Q2 and 2H03; INTC continues to gain share against AMD and outperform in notebook PCs, where higher growth and margins will exist for the near-term.
7:01AM Xicor reaffirms Q2 outlook (XICO) 7.72: Co expects Q2 sales to grow sequentially at the high-end of the 3% to 5% range previously provided. Based on the Reuters Research consensus of $9.99 mln, analysts are expecting sales to expand approx. 4% from the Q1 level.
6:54AM Chartered Semi inks multi-yr deal to provide manufacturing for Infineon (CHRT) 6.02:
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