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Technology Stocks : Kulicke and Soffa

KLIC 57.33

-2.6%

Jan 30 9:30 AM EST

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To: Muizz M. Kheraj who wrote (2168)	11/22/1997 3:33:00 AM
From: hpeace	of 5482

NEW YORK (CBS.MW) -- Disappointing news from computer maker Micron Electronics sent technology stocks sprawling Friday. Meanwhile, another analyst expressed concern about the long-range health of Applied Materials and other chip-equipment makers. The Philadelphia Semiconductor Index fell 1.2 percent, the Amex Networking Index 1.4 percent. The High Tech 35 Morgan Stanley Index of major computer-related companies fell 0.9 percent. More broadly, the Pacific Stock Exchange Technology Index declined 0.7 percent, while the tech-laden Nasdaq Composite lost 6 points to 1620. The Dow Jones Industrial Average, in contrast, rose 54 points to 7881. Micron Electronics fell 2 5/16 to 11 9/16 on volume of 5 million shares after warning that fiscal first-quarter net income will be "minimal," and will trail Wall Street estimates of 22 cents per share. The company said its growth in PC systems will rise about 30 percent from year-ago totals, but less than it had anticipated.

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