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

To: robert b furman who wrote (2597)	4/3/2002 9:03:37 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95622

From Briefing.com: 8:18 AM Intel expected to set more conservative Q2 rev target-- Merrill Lynch (30.03) Merrill Lynch's Joe Osha says that it is now clear that the strength in INTC's biz earlier in the qtr has dissipated, as grey mkt prices for P4s have been declining for the last several weeks, which leads him to believe that OEMs are releasing unsold parts into the mkt; expects INTC to set the Q2 bar conservatively, with a rev target of flat to down 5%, but maintains his Q2 ests of a 3% sequential increase in rev and EPS of $0.15 7:27AM Micron Tech downgraded at Morgan Stanley (MU) 32.40: Morgan Stanley downgrades to UNDERWEIGHT from Equal-Weight based on the belief that the stock is likely to be under pressure in the near-term. 7:24AM Merrill Lynch expects semi revs to be down 16.5% in March qtr : Merrill Lynch's Joe Osha expects the semi co's under coverage that report March qtr earnings to report aggregate revs down 16.5% YoY but up 1% sequentially, which compares favorably to the Dec qtr. Evidence continues to accumulate that the semi biz is moving into cyclical recovery, although evidence that actual end demand is improving is thin; believes that semi stocks are likely to be range-bound for the next qtr or so. finance.yahoo.com^SOXX+^IXIC&d Before the Bell: WorldCom, Micron Fall biz.yahoo.com NEW YORK (Reuters) - Telephone company WorldCom (WCOM - news) and chipmaker Micron Technology Inc. (MU - news) dropped before the opening bell on Wednesday, and equity futures hinted at a lackluster open. WorldCom fell to $6.55 from its Nasdaq close of $6.78. The No. 2 U.S. long-distance telephone company said it would redeem $700 million of notes as it taps into an improved cash position to pare its massive $30 billion debt load. The Wall Street Journal reported that WorldCom is set to cut as much as 10 percent of its work force. Micron Tech, the world's No. 2 maker of computer memory chips, fell to $31.25 from its Tuesday finish at $32.40 on the New York Stock Exchange. Morgan Stanley cut its rating on the company to ``underweight'' from ``equalweight,'' saying Micron is ``a fierce global competitor'' but the stock is likely to be under pressure in the near term. The Standard & Poor's 500 futures for June gained 0.90 point to 1,139. The Nasdaq 100 futures rose 8.50 points to 1,423. The Dow Jones industrial futures added 5 points to 10,318. Intel Corp. (INTC - news), the world's No. 1 maker of computer chips, slipped to $29.95 on Instinet from its Tuesday close at $30.03. But Cisco Systems Inc. (CSCO - news), the world's largest maker of gear that powers the Internet, rose to $16.54 from a Tuesday finish at $16.42.