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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Darryl Olson who wrote (23392)	10/28/1999 11:46:00 AM
From: Darryl Olson	Read Replies (1) \| Respond to of 25960

PC, chip stocks in upward mode H-P makes recovery; Intel set to brief analysts By Janet Haney, CBS MarketWatch Last Update: 11:02 AM ET Oct 28, 1999 Silicon Stocks Join the Discussion NEW YORK (CBS.MW) -- Hardware stocks were greeted with applause Thursday morning as Intel prepared to hold a meeting later in the day for analysts, while Hewlett-Packard gained over 5 percent. The Philadelphia Semiconductor Index (SOX: news, msgs), which tracks 16 chip and chip-equipment manufacturers, moved up 2.3 percent. Investors bid up shares of Intel (INTC: news, msgs) by 2.5 percent ahead of an analysts' meeting, scheduled to be broadcast Thursday at 2:00 p.m. PDT on Intel's Web site. Deutsche Banc Alex. Brown analyst Erika Klauer reiterated her "strong buy" on the chip maker and said the company seems well positioned to grow in the current market's conditions. Intel's 15 new processors, based on 0.18 micron technology, which were unveiled on Monday, may contribute to the growth. See related story. "As volume shipments of these leading edge products increase, we expect Intel's product mix to richen and its ASPs (average selling prices) to increase as early as the current quarter," Klauer wrote in a research note to clients. Intel stock jumped 1 3/4 to 71 3/16. Advanced Micro Devices (AMD: news, msgs) gained 1/2 to 18 15/16. Lattice Semiconductor (LSCC: news, msgs) rose 5/16 to 31 5/16 and Altera (ALTR: news, msgs) was up 7/8 to 43 3/8. Meanwhile, Xilinx (XLNX: news, msgs) moved 1 3/8 to 69 13/16 higher. Merrill Lynch analysts Christopher Danely and Eric Rothdeutsch believe the programmable logic device maker is on track to report double-digit sequential revenue growth, citing a strong order pattern already occurring in its third quarter. Chip equipment makers were also higher in trading. KLA-Tencor (KLAC: news, msgs) advanced 2 3/8 to 69 7/8 and Teradyne (TER: news, msgs) jumped 1 1/4, or 3.9 percent, to 33 9/16. Novellus (NVLS: news, msgs) moved up 1 3/16 to 69 11/16. The Goldman Sachs Computer Hardware Index (GHA: news, msgs) came back from losses sustained in the previous session to 1.3 percent. Shares of Hewlett-Packard (HWP: news, msgs) jumped 5 percent, attempting to recover from Wednesday's bearish session after Merrill Lynch cut fourth-quarter and fiscal 1999 and 2000 earnings estimates on the PC maker, citing weakness in the company's UNIX server business and enterprise storage. See story. The stock rose 3 1/2 to 70 1/2. H-P stock tumbled Wednesday after the company said there is "additional risk to earnings" because of sluggish business sales in North America. However, Chief Financial Officer Robert P. Wayman, said he was surprised by the magnitude of the stock price decline, and that the company was buying its stock aggressively. See press release. Apple Computer (AAPL: news, msgs) rose 1 3/4 to 78 1/8 while Compaq Computer (CPQ: news, msgs) was flat at 19 1/16. IBM (IBM: news, msgs) gained 1 7/16 to 94 7/16. Dell (DELL: news, msgs) fell 3/16 to 38 3/16. Janet Haney is a reporter for CBS MarketWatch.