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

To: Tito L. Nisperos Jr. who wrote (55300)	11/9/2001 6:01:23 PM
From: advocatedevil	Read Replies (1) \| Respond to of 70976

"Applied Materials adds shutdown days" By Nicole Maestri, CBS.MarketWatch.com Last Update: 5:39 PM ET Nov. 9, 2001 SANTA CLARA, Calif. (CBS.MW) -- Applied Materials has added six additional shutdown days around the upcoming holidays, the company confirmed Friday. The semiconductor equipment maker (AMAT: news, chart, profile) will be shutting down its business for the three days before Thanksgiving and the three days following New Year's. Those closures are in additional to the company's normally scheduled shutdown between Christmas and New Year's. "We said earlier that we might add additional shutdown days around the holiday time," said spokesman Jeff Lettes, "So it was logical" to expand the shutdown at that time. Lettes would not comment as to why Applied needed to shut down business for the extra days, saying the company will announce its fourth-quarter results Wednesday and that it would be "not be appropriate" to comment on the reasons at this time. The world's largest chip equipment company has been hurt as customers have stopped buying equipment amid an industry slowdown brought on by over-expansion and curtailed demand. When it posted third-quarter figures, CFO Joe Bronson said the company would continue to reduce costs and that the chip industry was "experiencing near-historic lows in factory utilization." During the third-quarter Applied's headcount was reduced by 1,000 to 19,000. Applied Materials began the year with 22,000 workers. At the end of September, Applied Materials announced more job cuts, saying it would reduce its global work force by 10 percent, eliminating 2,000 jobs, in response to the continued downturn in the chip industry. "We implemented a series of aggressive cost-reduction programs in an effort to avoid reductions in our work force," said James Morgan, the company's chairman and CEO, at the time. "Unfortunately, the length and severity of the downturn and lack of near-term visibility have made it necessary for us to take additional action to align our operations with the current level of business." Applied will take an unspecified restructuring charge in its fiscal fourth quarter, which ended Oct. 28. For its fourth quarter, analysts are expecting Applied to earn 4 cents per share vs. earnings of 77 cents per share in the same period a year earlier. The company is expected to generate fourth-quarter revenue of $1.24 billion vs. $2.92 billion a year earlier, according to the consensus estimate of analysts polled by Thomson Financial/First Call. Shares of Applied closed up 17 cents at $38.57. Nicole Maestri is a reporter for CBS.MarketWatch.com in San Francisco. link: marketwatch.com AdvocateDevil

To: Tito L. Nisperos Jr. who wrote (55300)	11/9/2001 8:41:19 PM
From: daryll40	Read Replies (1) \| Respond to of 70976

Don't get me started again on Bill F. He might be short waiting for $15, but that would only even him up with the quintupling of INTEL...he was waiting for $20 while it went from $50 to $250 (split adjusted). I didn't go short, but he sure spooked me out of it around $60. D40