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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (40839)	8/31/2001 8:35:18 AM
From: Dealer	Respond to of 65232

Before The Bell - Novellus falls after outlook NEW YORK, Aug 31 (Reuters) - Novellus Systems Inc. shares fell in early pre-open trade on Friday after the company warned third-quarter bookings and shipments would be on the low end of prior forecasts due to lower-than-expected product demand. Shares in Novellus, a maker of semiconductor-manufacturing equipment, fell to $44.50 from $46.73 at the prior Nasdaq close. Looking at the broader market, stocks were expected to open flat, with slight weakness among larger technology stocks, based on the early trade of equity-index futures. Also weighing on Novellus was a downgrade by brokerage Robertson Stephens, which lowered its opinion in the stock to to ``buy'' from ``strong buy'' and dropped the Novellus price target to $56 from $74. The September Nasdaq 100 futures were down 4.50 points at 1,451, and the September contract for the Standard & Poor's 500 index futures were 2.20 points higher at 1,131.40.