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Technology Stocks : Semi Equipment Analysis

SOXX 285.23

-3.7%

Dec 17 4:00 PM EST

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To: Donald Wennerstrom who wrote (49104)	8/24/2010 10:38:53 AM
From: Donald Wennerstrom	1 Recommendation Read Replies (2) of 95596

Aug 24, 2010 9:42 AM Veeco: Citi Adds To “Top Picks Live” List After Recent 30% Slide Posted by Eric Savitz Citigroup analyst Timothy Arcuri this morning added shares of Veeco (VECO) to his firm’s Top Picks Live list of their best stock ideas, asserting that the Street has overly discounted the stock on worries about falling demand in the company’s solar and LED equipment businesses. He notes that the stock is down about 30% this month, and that about a quarter of the float is sold short. Arcuri today cut his 2010 EPS outlook to $4.48, from $4.58, but he upped his 2011 view to $4.85, from $4.66. “We now have increased confidence that orders should remain robust through year-end and even into Q1 2011,” he writes. “The set-up for the stock is again very favorable is we are right about orders.” Arcuri notes that concerns about TV backlighting orders in Taiwan and Korea have driven down the stock this month, but he says “supply remains fundamentally very tight.” VECO this morning nonetheless is down 46 cents, or 1.5%, to $30.65.

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