Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Proud_Infidel who wrote (54023)	10/10/2001 9:41:13 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

Before the Bell: Applied Materials Off NEW YORK (Reuters) - Equity index futures reversed course to fall a notch as shares of semiconductor equipment makers such as Applied Materials Inc. (Nasdaq:AMAT - news) eased in pre-open trade on Wednesday after a leading Wall Street house soured on the sector. Applied Materials fell to $30.70 in pre-open trade from a close at $31.15 on Tuesday. JP Morgan said it cut ratings on several makers of semiconductor capital equipment, saying a drop in capital investment stemming from the Sept 11. attacks in the United States would delay the ailing sector's recovery. Among those cut was KLA-Tencor Corp. (Nasdaq:KLAC - news), which fell to $32.60 pre-open vs. $32.92. Both Applied Materials and KLA-Tencor saw their investment rating lowered to ``market perform'' from ``long-term buy''. In other activity, shares of Motorola Corp. (NYSE:MOT - news) edged up in pre-open trade after the tech bellwether reported its third quarterly loss in a row but matched Wall Street estimates. Shares of the wireless high-tech giant rose in pre-open trade to $17.10 on the Instinet electronic system vs. a close at $16.72 Tuesday on the New York Stock Exchange (news - web sites). Later in the pre-market Motorola shares had shed some gains and were last at $16.82. Early on Wednesday, Motorola said it sees sales in the fourth quarter to be flat to 3 percent higher from the third quarter, adding it expects a loss of per share of 4 to 5 cents. Motorola, struggling amid a global telecommunications slowdown, said Tuesday third quarter sales fell 22 percent to $7.41 billion. The company delivered some upbeat news, however, saying its personal communications segment, which makes mobile phones, returned to profitability in the third quarter -- a recovery that occurred a quarter earlier than expected. The December futures contract for the Nasdaq 100 index was earlier up five points but later fell 2.50 points to 1,252. The comparable contract for Standard & Poor's 500 futures was off 1.20 points at 1,058.30, and for the Dow Jones industrial average also turned, declining 13 points at 9,040. The Nasdaq 100 Trust (NYSE:QQQ - news), or the tracking stock for that index, initially rose to $31.30 but later fell to $31.01 from a close at $31.09 on Tuesday on the New York Stock Exchange. The Nasdaq-100 pre-market indicator was virtually unchanged, off 0.94 of a point, or 0.08 percent, based on trading ahead of the open in the tech-laden index's biggest stocks. Lam Research Corp. (Nasdaq:LRCX - news), which makes equipment to manufacture semiconductors, helped buoy the high-tech sector after it reported third-quarter results that beat forecasts. But it said chip makers continued to cut capital spending. Shares of Lam rose a little to $16.75 in pre-open trade, having risen after-hours to $17.55 vs. a close of $16.64 on Nasdaq. Shares of financial services firm American Express Co. (NYSE:AXP - news) rose to $29.60 in trading ahead of the official market open vs. a close at $29 on Tuesday. A federal judge told top U.S. credit card networks Visa and MasterCard that they must let their member banks issue rivals' cards.