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

To: Math Junkie who wrote (51567)	9/6/2001 11:51:39 AM
From: michael97123	Read Replies (1) \| Respond to of 70976

KLA-Tencor CFO reaffirms existing Q1 guidance (UPDATE: adds shipments, First Call numbers) BOSTON, Sept 6 (Reuters) - The chief financial officer of semiconductor equipment maker KLA-Tencor Corp. (NasdaqNM:KLAC - news) on Thursday reaffirmed the company's existing guidance for earnings of 43 cents to 46 cents a share and revenues of $470 million to $490 million in the first quarter. -------------------------------------------------------------------------------- John Kispert, speaking to investors at the SG Cowen technology conference here, also said that his company's semiconductor customers have become more optimistic about a recovery in stagnant demand. KLA-Tencor expects orders to be flat to down 10 percent in the quarter ended September 30, he said. The company also expects shipments to come in at $375 million to $400 million during the quarter. ``September is always a slow quarter. That's the reason for the flat to down orders,'' Kispert said. ``We're actually seeing more optimism from our customers.'' The company is receiving orders from chip companies for technology upgrades, however, not for additional capacity. When chip companies begin expanding capacity, he said, that will be a sign that a turnaround has begun. KLA-Tencor last issued guidance to investors at the end of July when the company reported its fourth-quarter results. Analysts expect the company to earn 42 cents a share and to bring in revenues of $459 million during the first quarter, according to Thomson Financial/First Call. In late morning action, shares of KLA-Tencor were down $1.91, or 4.3 percent, at $43.26 in Nasdaq trading. The shares have traded in a 52-week range of $66.88 and $25.50.

To: Math Junkie who wrote (51567)	9/6/2001 12:48:13 PM
From: BWAC	Read Replies (1) \| Respond to of 70976

I'm still thinking about it? Thus haven't responded. I should more than likely do some more thinking. Legal? Yes. Allowed by margin rules? Yes. Moral? Its legal and allowed so I guess its moral? Right? I just find the whole thing an interesting concept. Borrowing something you don't own and being able to sell it into the very same market as the actual owner may be trying to sell into at any given moment. I understand the arguments that it provides liquidity to the market, provides buyers when buyers might not otherwise exist, helps correct, prevent, or adjust overvaluations, etc. But does it encourage investment in the economy? I'll be damned if I will continue to invest my money, placing it at risk, while someone (in mass downward speculation) borrows my investment and places it right back on the market. All of which bodes bad for the economy. Bad for the consumer. Bad for the brokers. And bad for companies in need of capital. Bad for savings. Bad for government tax receipts. I like to use an example away from the stock market. Imagine investing and saving in your mortgaged home and then it is time to sell. (For whatever reason sell to buy bigger, sell due to transfer, sell just to move for the sake of moving) Only you find out that someone has borrowed your title, and is standing in front of you selling your asset, thus driving your investment and sale price down. Would the people stand for this? I doubt it? Yet this very same scenario happens every day with stocks. I wonder why people aren't outraged? I doubt they even understand. So? All's fair in margined shares and making big money. Thus it must be moral.