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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (32573)	6/1/2001 2:24:41 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70471

Novellus (NVLS) 47.90 +1.40: -- Update -- On call, company reaffirming numbers for Q2...details to follow. Novellus (NVLS) 47.90 +1.40: -- Update -- On conference call, company reaffirms Q2 revenue guidance given during Q1 earnings call. Mgmt expects $379 mln in revenue and EPS of $0.40 vs First Call of $0.39....stock at 49.09. Novellus (NVLS) 47.90 +1.40: -- Update -- On call, company still expects $1 bln in bookings for the year, but "we may have to come back and revise that." ...During Q1 call, mgmt said it expected cancellations were over, but mgmt concedes $15 mln in cancellations in Q2....seeng some push-outs of 300mm fab...stock at 48.30 Novellus (NVLS) 47.90 +1.40: -- Update -- Questions keep aiming at how much June needs to be to meet full Q2 numbers, but mgmt not being specific. Briefing.com gets the sense that there is modest pessimism mgmt is relying too much on a strong June. Stock at 48.82. Novellus (NVLS) 47.90 +1.40: -- Update -- On conference call, mgmt saying that a competitor recently said it expects a Q3 upturn, but Novellus "does not see it right now. We hope they are correct." ....Mgmt concedes that Europe is also being affected by weakness, "would expect tailing off in Europe." Novellus (NVLS) 47.90 +1.40: -- Update -- On call, mgmt concedes that all regions are down, but company has achieved some surprise wins thus far in Q2. A surprise because they beat out some competitors.....during Q&A, company said that Asia is seeing signs of slowing. Visibility is still unclear....For Q2, company still expects $220 mln in bookings and $250 mln in shipments.....Stock at 48.80. Novellus (NVLS) 47.90 +1.40: -- Update -- Conference call ended. Bottom line: company eased concens and did not guide down. Mgmt reaffirmed Q2 guidance and 2001 booking estimate of $1 bln. Some cautious comments were made, but basically an uneventful call.