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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: A. Edwards who wrote (2449)	10/12/1999 11:44:00 AM
From: Steve Fancy	Respond to of 3813

RESEARCH ALERT - Novellus (NASDAQ:NVLS) raised Reuters, Tuesday, October 12, 1999 at 10:45 NEW YORK, Oct 12 (Reuters) - Banc of America, Lehman Bros. and Thomas Weisel Partners said they raised earnings estimates on Novellus Systems Inc. (NASDAQ:NVLS), on the heels of its third quarter earnings report. Shares rose 6.4 percent, or 4-17/32, to 77-1/16 on NAsdaq in early trading. Novellus reported third quarter earnings of 54 cents a share versus 22 cents in third quarter 1998. First Call consensus was 46 cents. Orders were an all-time record for Novellus, the company said. -- Banc of America raised its rating on Novellus to a strong buy from a buy. -- The company expects a new record for Q4 orders, Banc of America said. Analyst Brett Hodess estimates over 10 percent quarter-to-quarter order growth to over $220 million. -- Increased 1999 earnings estimate to $1.75 a share from $1.59. -- Increased 2000 earnings estimate to $3.10 a share from $2.90. -- Additionally, Lehman Bros. raised its fourth quarter estimate to 65 cents a share from 57 cents a share. It also raised its 1999 estimate to $1.75 a share from $1.60 and its 2000 estimate to $3.05 a share from $3.00. -- Thomas Weisel Partners raised its 1999 earnings estimate to $1.75 a share from $1.58 and its 2000 earnings estimate to $3.05 a share to $3.00. Copyright 1999, Reuters News Service