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Technology Stocks : Novellus

NVLS 2.400

+2.1%

Jul 24 5:00 PM EST

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To: Duker who wrote (2095)	4/1/1999 11:30:00 AM
From: Steve Fancy	Read Replies (2) of 3813

LAM (NASDAQ:LRCX) Novellus (NASDAQ:NVLS) up after merger talk Reuters, Thursday, April 01, 1999 at 11:07 NEW YORK, April 1 (Reuters) - Shares of LAM Research Corp. and Novellus Systems Inc. rose Thursday after a Merrill Lynch analyst said the semiconductor equipment maker may merge with Novellus (NASDAQ:NVLS). LAM was up 3-1/4 at 32-1/4 and was among volume leaders on the Nasdaq exchange. Volume in early morning was more than twice normal daily levels. Novellus was up 1-3/16 at 56-5/16. "Because of a recent sequence of events, including a round of financing by Novellus, we ... believe that Novellus Systems and LAM Research may merge," Merrill analyst Mark Fitzgerald said in a report Thursday. "These companies have long courted each other and may finally reach the altar. We believe that LAM is worth $35 to $40 a share, which is about two times sales." Spokesmen for LAM and Novellus were not immediately available for comment. The Philadelphia Stock Exchange's semiconductor index was (INDEX:$SOX.X) also stronger after the report, rising 1.58 percent. Copyright 1999, Reuters News Service

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