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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: stox19 who wrote (1873)	2/8/2002 1:22:09 PM
From: Return to Sender	Respond to of 95748

12:16AM Intel testing range floor -- Technical -- (INTC) 31.52 -0.79: -- Update -- Intraday slide has brought the issue to the bottom of its two month trading range and its 200 day exp ma (31.41/31.35). A breach would open the door to the 38% retrace of the Sep/Jan rally at 30 with chart congestion at 29.50. 11:29AM QUALCOMM Intraday -- Technical -- (QCOM) 37.22 -1.88: Has blown through this week's trading range low, the Sep low and reached its lowest level since Sep 1999 (see 11:27 comment). Bounce attempts very short lived thus far and without a stabilization at least above the Sep low 38.31 and the range floor at 38.80 the near term bias is expected to remain weak. Next support is in the 36.65/36.50 area followed by weekly lows at 35.25/35. 11:27AM QUALCOMM hit by CFRA report (QCOM) 37.15 -1.96: -- Update -- Stock is latest to get hit by a CFRA (Center for Financial Research & Analysis) report which apparently claims that QCOM's 10K reveals that the company recorded revenue in exchange for non-cash consideration and accepted non-cash consideration for receivables removed from its balance sheet; hearing that report also noted potential conflicts of interest between company's Board and auditor, stating that Chairman of Audit Committee, COO, CFO all are former employees of Coopers & Lybrand, predecessor to QCOM's auditor, PricewaterhouseCoopers. Briefing.com cannot verify the accuracy of the CFRA report. 11:17AM QUALCOMM exhibiting relative weakness as stk breaks to new session low (QCOM) 38.08 -1.03: 11:02AM Cisco Systems edging off support (CSCO) 16.81 -0.21: -- Technical -- Stock still in the red but currently attempting to rebound off support at 16.48 (50% retrace of Sep/Dec rally) with short term indicators deeply oversold. Next resistances are at 16.90 and 17.07 with the critical ceiling at 18/18.1 (bottom of 3 month range broken yesterday/200 day simple ma). Failure at first level resistances and a breach of support at 16.60 puts the recovery scenario in danger. Next support at 15.75/15.50. 10:23AM NVIDIA Corp weakening again (NVDA) 57.03 -2.98: -- Technical -- Highlighted in a technical Story Stock yesterday in the wake of its recent failure at resistance. Has extended its breakdown today, pushing to its lowest levels since early Dec. Next supports are at 56.50 (50% retrace off late Oct low) and 55.99 (Dec high). First step to improving negative short term tone is a push through resistances at 57.95 and 58.30. 10:11AM ASML Holding off slightly after report claiming competitive loss (ASML) 18.16 -0.29: Hearing that stock under pressure this morning due to a note out of boutique firm BlackFin Research which claims that Intel (INTC) abandoned ASML's Micrascan platform in favor of a competitive product from Nikon for Intel's 300 mm business; Briefing.com cannot confirm the accuracy of BlackFin's report. 9:56AM Nasdaq Composite Intraday -- Technical -- : Positive start for the index but follow through has been relatively limited thus far (semi sector lagging). Intraday watching resistance in the 1806/1808 area. Failure to work through here leaves the door open for a run to new lows for the move. Initial support is near 1775 followed1768/1759 (Nov 05 gap). Penetration of the resistance suggests potential to 1826/1828 (congestion/100 day simple ma) which has been a pivotal zone over the last few sessions. 9:16AM Gapping Up/Down : TQNT +7% (tops estimates, upgraded), GSPN +6.5% (exceeds estimates), MCIT +6.5% (Ebbers says dividend not at risk), SUNW +5% (Merrill upgrade)... Gapping Down: VECO -10% (lowers guidance), HAIN -8.5% (misses qtr, guides lower), CACI -6% (files to offer shares), MTON -4% (lowers guidance)... Other movers of note: WCOM (+7.5%), TELM (+6%), IMCL (-6.5%). 9:04AM TriQuint Semi upped at Piper Jaffray (TQNT) 9.75: US Bancorp Piper Jaffray upgrades to MKT PERFORM from Underperform; sees minimal downside risk at current price after pos Q4 results, Q1 should represent the trough qtr for sales, and co has strong cash position of $3.89 per share. 8:57AM Genesis Microchip upped at SoundView on valuation (GNSS) 44.07: Hearing from sourcesthat SoundView is upgrading to STRONG BUY from Buy on view that recent decline in price has created an attractive valuation. 8:46AM Cree extends repurchase program (CREE) 12.92: Co extends its stock repurchase program through January 30, 2003. Under the repurchase program, co has been authorized to repurchase up to 7 mln, of which 2.55 mln have already been repurchased. 8:08AM Texas Instruments upped at UBS Warburg (TXN) 29.54: UBS Warburg upgrades to BUY from Hold due to increased margin assumptions; sees higher operating margins and earnings than previously expected, as firm had underestimated the manufacturing leverage impact on cost-of-sales and mgmt's determination to control operating expenses. Raises 2002 est to $0.21 from $0.16 and 2003 to $0.74 from $0.47; sees downside to $25 but 25% upside to new price target of $37. 7:57AM National Semi upped at UBS Warburg (NSM) 25.40: UBS Warburg upgrades to BUY from Hold and raises 2002-03 ests; after a recent co visit, firm believes that NSM will benefit from incremental business in displays and wireless handsets from mkt-leading customers such as Samsung, Nokia, and Ericsson. Sees 30% potential upside in shares to $33 price target. 7:46AM Veeco tops Q4, lowers guidance for Q1. (VECO) 30.10: Reports Q4 earnings of $0.11 per share, $0.04 better than the Multex consensus. Rev fell 14.4% yr/yr to $97.5 mln vs the $95.3 mln consensus. For Q1, co warns of a loss in the range of $0.04-$0.07 on rev of $70-$75 mln (consensus +$0.09 and $91.56 mln). 7:29AM Micron Tech upped at ABN AMRO (MU) 33.86: ABN AMRO upgrades to BUY from Hold due to a dramatically improved outlook for the DRAM mkt; after DRAM shipments posted their sharpest two-quarter increase on record in 2H01, demand caught up with supply at the end of the year; firm believes the supply/demand balance in DRAM will remain "snug" into 2003. Raises FY02 est to $0.09 from a loss of $0.94 and raises FY03 est to $2.84 from $1.50. finance.yahoo.com RtS

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