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Strategies & Market Trends : Technical analysis for shorts & longs

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Dec 26 4:00 PM EST

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To: Johnny Canuck who wrote (41240)	5/29/2004 1:30:30 PM
From: Johnny Canuck	Read Replies (1) of 69254

8:26AM Novellus climbs pre-market as analysts applaud outlook (NVLS) by Ciara Linnane NEW YORK (CBS.MW) -- Novellus (NVLS) shares rose in pre-market trade as analysts weighed in on the company's mid-quarter conference call late Thursday when it boosted its outlook. Analyst Kevin Vassily at Susquehanna Financial said the new forecast is signficiantly above the company's initial forecasts. "Shipments are tracking ahead of plan and the company is also forecasting potential upside to order guidance should certain orders hit the books in the month of June," he said. "The company's strong performance should alleviate concerns over material share loss." RBC analyst Stuart Muter said the new outlook is well above his expectations. "The operating leverage that the company did not guide for in its April conference call is showing up nevertheless," he said. Shares were last trading at $32.80 compared with $31.38 at Thursday's close

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