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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (50464)	8/13/2001 9:42:11 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Chip Shares Rise After Goldman Upgrades Aug 13 8:53am ET NEW YORK (Reuters) - Stock futures climbed in pre-opening trading on Monday, led by the computer chip sector after Goldman Sachs raised its ratings on several semiconductor stocks. Goldman upgraded the U.S. semiconductor sector to "overweight," saying the area's fundamentals are likely to strengthen in the fourth quarter of this year, and added several of the sector's shares to its "recommended list." Among them was the world's top computer-chip maker, Intel Corp. , which jumped to $30.70 on the Instinet electronic brokerage system from Friday's close of $29.95. Analog Devices was also added to Goldman's recommended list, and its shares rose to $49.50 on Instinet from $47.45 at Friday's close. Maxim Integrated Products Inc. rose to $49.75 from $48.19 on Friday after a similar upgrade by Goldman. Linear Technology Corp. rose to $45.21 from $44.32 at Friday's close after Goldman upgraded its shares to "market outperform." Goldman also upgraded several communications-chip makers, citing a bottoming out in the sector's businesses and stock prices. It added Broadcom Corp. , wireless technology company Qualcomm Inc. and Conexant Systems Inc. to its recommended list. Broadcom jumped to $44.50 on Instinet from Friday's close of $42.55, while Qualcomm saw its shares climb to $65.80 from $63.77 at Friday's close. Conexant rose to $9.95 from Friday's close of $9.49. Standard & Poor's 500 September futures were up 3 points at 1,194.50, while Nasdaq 100 September futures were up 14 points at 1,638. The Nasdaq-100 Pre-Market Indicator was up 0.8 percent. The software sector was buffeted, however, after ABN-AMRO cut its ratings, revenue and profit views on several of the sector's companies. BEA Systems Inc. fell to $18.40 on Instinet after ending Friday's session at $18.50. ABN-AMRO cut the software maker's rating to "add" from "buy." Veritas Software Corp. was also slapped after the investment house cut its rating to "hold" from "add." Its shares slipped to $38.10 on Instinet from Friday's close of $38.66.