Various bits of news for the semis and semi-equips.
<<Ridgeland, MS, MAY 19, 2004 (EventX/Knobias.com via COMTEX) -- Early trading in the equity markets is unfolding as advertised, with the Technology (+2.6%) and Materials (+2.5%) sectors vying for leadership in amid broad-based buying. As expected, HPQ (+6%) is leading the Dow. Tech bellwethers INTC and IBM are among the top 4 blue chip performers as well. Semis (SOX +3.7%) are higher on bullish outlooks from AMAT, STM and Samsung.
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Earnings News
(+) Hewlett-Packard Co (HPQ) - Q2 Results Adj 34c vs 29c; Meets Q Est on +4% revenue surprise and upped its H2 revenue forecast. CIBC upgraded HPQ to Outperform.
(+) Applied Materials (AMAT) topped the street by 3c in Q2. Revenue increased 82% Y/Y. AMAT sees sequential revenue growth of 5%, and 23-25c in Q3 EPS vs. the 23c Multex estimate. The Company was DOWNGRADED by UBS Securities.
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--- Semi Equipment:
--- AMAT, ATMI, NVLS, VECO, VSEA were DOWNGRADED AT UBS Securities...
(+) ... but all are trading higher.
(+) AMAT was maintained a Buy, with $32 target at Merrill.
(+) KLAC, LRCX, BRKS & AMKR are higher in early trading as well.
--- Semis: Samsung warned the DRAM chip shortage will prevail in 2004 according to a Reuters report.
(+) DRAM: MU & IFX are up.
(+) ST Micro (STM) sees 30% sales growth for the chip making industry.
(+) Intel meets with analysts today.
(+) AMD is up 5% in early trading. The Company announced an AMD 'China' subsidiary.
(+) ALTR, XLNX are up in a strong programmable chip group.>>
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