Brian/all, more positive comments on AMAT. This one from Wall Street Week. Jeff
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Colonial's Stoeckle Recommends Tech Companies on 'Rukeyser'
Owings Mills, Maryland, Feb. 26 (Bloomberg) -- Technology and financial companies were among those recommended by Colonial U.S. Growth and Income Fund manager Mark Stoeckle on Public Broadcasting System's ''Wall Street Week With Louis Rukeyser.'' ''The outlook for those companies still continues to be very good,'' Stoeckle said, referring in particular to Texas Instruments Inc. and Applied Materials Inc. Shares of both companies fell this week on concern over slowing personal- computer sales.
Applied Materials, the No. 1 chip-equipment maker, fell 12 5/8, or 18 percent, to 55 5/8 over the past two days as investors felt that slowing sales would mean less demand for computer chips. Texas Instruments fell 15 3/4, or 15 percent, to 89 3/16 from a 52-week high of 104 15/16 reached on Feb. 24.
Stoeckle, who invests in large companies, said those companies continue to be good investments because many have reduced costs and focused on their areas of strength. He said he hasn't invested in Dell Computer Corp. because the expectations for its stock performance are too high.
Stoeckle said he continues to like financial-services companies because of their growth and because they ''really have the ability to control expenses.''
Among the panelists, Maceo Sloan said he sees value in America Online Inc. and Virtual Technology Corp. The chairman and chief executive of Sloan Financial Group Inc. also likes Chase Manhattan Corp. and First Union Corp.
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