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.

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

To: Return to Sender who wrote (2025)	2/19/2002 5:33:15 PM
From: Return to Sender	Respond to of 95756

Close Dow -157.90 at 9745.14, S&P -20.66 at 1083.52, Nasdaq -54.59 at 1750.61: The selling in the market began at the open and continued all day long with both the Dow and the Nasdaq closing near session lows. A depressing day on the Nasdaq as the index has not closed this low since November 2. Also, this represents a 17% haircut for the Nasdaq since its January 9 high.... Investors clearly rotated into cash as most every sector traded lower. Accounting concerns once again lingered in the market. PNC Bank (PNC 55.35 -1.60) restated earnings and concerns over IBM (IBM 99.54 -3.35) and Circuit City (CC 22.11 -4.29) hurt the market. The few strong groups today included airlines (UAL labor agreement avoiding a strike) and building products. Much stronger than expected housing data got the homebuilders off to a solid start, but even that group gave into the selling. The negative tone was established in the pre-market as some viewed ONI Systems (ONIS 5.94 +0.40) has agreeing to be acquired by Ciena (CIEN 8.45 -0.28) in an all-stock deal as a negative. Briefing.com sees this deal to be a move made more out of desperation than opportunity. However, the deal did get generally favorable comments from analysts. Also, a NY Post article on Cisco (CSCO 16.81 -0.28) did not help as it compared Cisco's relationship with Sequoia Capital to Enron's off-the-books partnerships. As a result, tech stocks were very weak, especially semiconductors, storage and software....Semi equipment stocks were weak ahead of industry book-to-bill data due out after the close tonight....Financials got hurt by more credit concerns and the PNC restatement: FBF -5%, C -4%, ONE -4%. Brokerages also felt the pain: SCH -6%, GS -5%... Often, gold stocks will move in the opposite direction of equities, but not today. Gold prices slumped (293.60 -5.30) in the wake of comments from Bundesbank President Welteke, who said that Germany wants to "slowly" sell some of its gold to move into assets that offer a return beyond potential capital appreciation...Today's market activity today was discouraging as there was no attempt at an afternoon rally despite the sell off on top of Friday's weakness. DJTA -0.4%, DJUA -1.5%, DOT -5.0%, Nasdaq 100 -3.4%, Russell 2000 -2.0%, SOX -3.6%, S&P Midcap 400 -1.8%, XOI -1.4%, NYSE Adv/Dec 1018/2122, Nasdaq Adv/Dec 1043/2499 4:11PM Agilent Tech beats estimates, raises guidance (A) 26.05 -1.45: Reports Q1 pro forma loss of $0.29, $0.21 better than the Multex consensus; revs were $1.43 bln, well ahead of the consensus of $1.32 bln. The co expects a Q2 loss of $0.20-$0.30 (vs consensus of a loss of $0.33) on revs of $1.45-$1.55 bln (vs consensus of $1.41 bln); "While visibility beyond three months remains very poor, we are comfortable with the current range of analysts' expectations for the second half of our fiscal year." 3:40PM Broadcom (BRCM) 34.28 -0.75: -- Before Open -- Morgan Stanley continues to believe BRCM is one of the best-positioned semi companies in their universe; firm believes that product areas such as Gigabit Ethernet, Wireless LAN, Bluetooth, direct broadcast satellite (DBS), IP telephony, ADSL, and microprocessors will be significant revenue drivers for BRCM; estimates that these areas represented 5-10% of BRCM's overall revenue in 2001 and believes that mgmt can grow these to about half of BRCM's revenue by the end of 2003. Morgan Stanley reiterates their Outperform rating and $60 price target and adds that shares trade at a 35-40% discount to its peer group of comm IC companies. 3:27PM Intel (INTC) 31.32 -0.97: -- Before Open -- Robertson Stephens channel checks at INTC indicate upcoming price cuts in FQ2, with the potential for pricing to stabilize in the second half; firm also rates INTC's new product roadmap (that offers significantly higher performance, culminating in a 3GHz Pentium 4 in Q1 2003) as "impressive." Robertson Stephens maintains their Mkt Perform rating: although INTC appears to be getting its execution issues rapidly behind it, firm believes the shares have already discounted this success, and remains cautious pending better visibility into how quickly the market embraces the faster speeds or whether higher operating leverage will be there when the products ramp. finance.yahoo.com