FSII - The Worst is Over? Message Board

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Technology Stocks : FSII - The Worst is Over?

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To: Joe Dancy who wrote (1974)	5/28/1998 11:51:00 PM
From: Kent Sarikaya	Read Replies (1) of 2754

On a some what positive note: Tech Issues Continue To Rally Technology stocks continued their rally Thursday as chip equipment stocks benefited from new analyst coverage at Merrill Lynch, and the broader market picked up steam as well. The Nasdaq Composite closed up 13.28 at 1794.38, while the Dow Jones Industrial Average advanced 33.63 to 8970.20. The U.S. Commerce Department reported gross domestic product grew a robust 4.8 percent in the first quarter, ahead of Wall Street expectations, but causing some concern the second quarter will see a slowdown as companies grapple with excess inventories. Merrill Lynch initiated coverage on several semiconductor equipment companies with a near-term neutral rating. KLA-Tencor [KLAC] slipped 5/16 to 36 3/8, Lam Research [LRCX] gained 1 1/16 to 24 7/16, PRI Automation [PRIA] rose 17/32 to 22 3/4, and Applied Materials [AMAT] was up 1 7/16 to 33 3/4. Novellus Systems [NVLS] was the big winner, closing up 3 1/16 to 40 1/4....

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