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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 681.86-0.7%4:00 PM EST

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To: Johnny Canuck who wrote (42675)9/28/2005 11:53:09 AM
From: Johnny Canuck  Read Replies (1) of 69340
 
6:00AM Novellus cut at J.P. Morgan, management cited (NVLS) by Aude Lagorce
LONDON (MarketWatch) -- J.P. Morgan cut semiconductor equipment manufacturer Novellus Systems, Inc. (NVLS) to underweight from neutral, saying the risk to the company's direct metals CVD business is greater than it previously thought and that the loss of momentum for integrated metals PVD in Japan should be a strong capex region going forward. In addition, the broker told clients that the turnover of senior management continues to be highly disruptive within the company and creates near-term weakness due to the lack of clear product focus and chain of command.

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