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MarketPulse
9:36AM MTC Tech lifts 2003 sales, earns outlook by 2% (MTCT) by Emily Church
LONDON (CBS.MW) -- MTC Technologies (MTCT) raised its guidance for 2003 revenue by about 2 percent to a range of $170 million to $175 million. It said it now sees earnings per share 88-92 cents, up around 2 percent from its previous target. "Due to increased demand and some accelerated deliveries on several of our task orders, it now appears that 2003 will be even stronger than previously forecasted," it said. The company provides engineering, technical and management services to the federal government. The company sees 2004 revenue in the range of $200-$210 million.
9:25AM J.P. Morgan now 'more constructive' on chip sector (SMH, RFMD, ALTR, XLNX) by Tomi Kilgore
NEW YORK (CBS.MW) - Analyst Christopher Danely at J.P. Morgan said he was now "more constructive" on the sector, citing improved fundamentals, combined with seasonal growth and an improving economy. Danely added that he was "surprised at the positive tone of business" at most semiconductor companies he visited over the past couple of weeks. The Merrill Lynch Semiconductor Holdrs (SMH) rallied 42 cents, or 1.2 percent, to $35 in pre-open trading. He believes the wireless end market has exhibited the strongest order rates, boosting bookings at companies, such as RF Micro Devices (RFMD), and bookings at PC chip companies have been in line or ahead of expectations. The wireline end market, however, continues to be sluggish, and could lead to results for Xilinx (XLNX) and Altera (ALTR) at the low end of projections. |
