From briefing.com this morning: CYMI +1 1/8, issue could be a big winner today after Morgan Stanley analyst reiterated "strong buy" and
said company will make or exceed estimates..
more from briefing.com:
Cymer Inc. (CYMI) 69 1/8 -12 7/8: newswire story after the close reports that Morgan Stanley Dean Witter analyst reiterates "strong buy" on Cymer in intraday
note and says company will still hit or exceed third quarter estimates, citing CFO saying company has made "adjustments" but that the changes create risk...
more from briefing.com:
An up day as the Nasdaq posted a 9.58 gain, and the Russell 2000 added 2.95 (0.7%), but that masked definite problems. The SOX semiconductor index fell a
sharp 2%, as semi equipment company Cymer (CYMI) plunged another 12 7/8 to 69 1/8 after a 9 13/16 drop on Friday. Other equipment makers were also hit
hard. Networking stocks also had a very bad day, although there was no news. It seems as if the rotation out of the big cap stocks may also be happening to some
extent within the tech sector. So, don't be misled by the big gain in the Nasdaq, Monday was a mixed day. This turbulence in selected sectors could spread.
There have been enough earnings warnings in various sectors now to put technology stock investors on edge. Small caps seem impervious to bad news, but pick
the right ones!
As to Cymer, it is worth noting that after the close on Tuesday, there was a newswire story that Morgan Stanley Dean Witter analyst Deahna issued an intra-day
note confirming a "strong buy" on the company, saying the company would still hit or exceed earnings estimates. It will be interesting to watch whether Cymer
benefits on the open Tuesday. |
