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

To: Donald Wennerstrom who wrote (1942)	2/13/2002 9:07:12 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95965

From Briefing.com: 8:45AM : The bias of the market was favorable in early pre-market trade but the indicators have extended their gains in the wake of the better than expected Retail Sales numbers. Currently the S&P 500 futures are trading 3.7 points above fair value while the Nasdaq 100 futures are 9 points above fair value. This ex-auto number supports the view that consumer spending (outside of volatility in autos) is rebounding, and helping to lead the economy out of recession. From the Street a number of upgrades for Network Appliance (NTAP) after they exceeded earnings expectations; Goldman Sachs downgrades several entertainment/news stocks (NWS, CVC, FOX). 8:49AM Newport Corp should benefit from Applied Materials comments (NEWP) 23.61: Salomon Smith Barney believes that NEWP, a supplier of 300mm subsystems to AMAT, should benefit from AMAT's comments that 300mm spending should rise 67% YoY in 2002 (from $6 bln in 2001 to $10 bln in 2002). 7:43AM Applied Materials is richly valued given gradual rate of recovery (AMAT) 44.71: Lehman issues cautious comments on AMAT after the co reported in-line Q1 results and guided to stronger sequential orders in April. Firm believes valuation is generous given weakness in end mkts and excess capacity, and does not see a meaningful reacceleration in growth until late 2002/early 2003. Increases FY02 est to $0.12 from a loss of $0.20. finance.yahoo.com

To: Donald Wennerstrom who wrote (1942)	2/13/2002 1:49:33 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95965

1:00PM : Modest improvement in recent action for the market averages with the semiconductor sector providing much of the impetus. This has led to the Nasdaq Composite, at least temporarily, taking over the leadership on a percentage basis. The weaker networking and biotech sectors are attempting to make a comeback with retail, Internet, broker/dealer and energy also improving. A strong reversal (roughly 1.2%) also noted in the gold sector. While firmly higher, the SOX (at 559, high today 562) index has been held at bay by the 563 barrier (recovery highs off Jan low). Within the group, NVLS (+5.2%) is facing resistance at its 200 day simple ma at 43.53, while KLAC (+3.3%) is facing a major chart barrier at 60/61 (May 01-Aug 01 highs, Jan high). Volume is modest with market internals still bullish. DOT +1.9%, SOX +2.1%, XOI +0.3%, NYSE Adv/Dec 1798/1210, Nasdaq Adv/Dec 1757/1468 12:42AM Novellus Intraday (NVLS) 42.97 +1.95: -- Technical -- Stock is currently testing important resistance at 43.00. On a break higher, look for subsequent overhead at 43.50 which represents its 200-day simple moving average. The favorable outlook would deteriorate on a break below intraday support at 42.70. 11:49AM Integrated Circuit defended by Bear Stearns (ICST) 19.60 -2.75: -- Update -- Bear Stearns is defending ICST, and recommends taking advantage of the weakness in the shares; among the positives, the co is taking share from CY, the XBox is selling well in Japan and Europe, and DDR sales are ramping. Reiterates Buy rating and $30 price target. 11:39AM Cisco Systems rumor (CSCO) 17.45 +0.19: -- Update -- Hearing Street talk that CSCO may shift to using more ASIC chips rather than PLDs in its product line; while this rumor is unconfirmed, keep an eye on suppliers such as ICST, XLNX, ALTR, and others for possible reaction. 11:06AM Integrated Circuit hit on allegations of channel-stuffing (ICST) 18.97 -3.38: Stock is down 15% on allegations of channel-stuffing based on the co's recent 10-Q as well as comments from TheStreet.com's Herb Greenberg; author writes that sales from an Asian distributor in which ICST owns a 10% stake jumped 31% in the first six months of the fiscal year, while total sales for the same period fell by 31%; Greenberg says that if you back out the distributor's sales contribution, total sales would have fallen by 47%. 9:54AM Sirius Satellite highlighted ahead of four city launch (SIRI) 7.00 +0.21: Lehman positive on SIRI ahead of tomorrow's launch of service tomorrow in four cities. In a pre-market note, Lehman says a survey showed that sales reps generally preferred Sirius (42%) over XM (6%), with 52% indicating no difference between the two offerings. Although survey was limited, was surprised by the lopsided findings. Firm expects valuation in the sector to continue being dictated by XM, and expects the relative value disparity between the stocks to dissipate. finance.yahoo.com Looks like we got out of AMAT too soon Don but I wanted to thank you for helping get in long enough to score a profit! Thanks, RtS