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

To: Gottfried who wrote (2951)	4/29/2002 5:29:33 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95480

A small win for the SOX today. After hours RTEC is being hit hard after missing estimates but there is hope. GNSS is up strong after reporting better than expected earnings. Listen to the closing Boxer Brief here because after 200 NASDAQ points lost over the last nine sessions they say we are due for a... Snap back rally... tomorrow. biz.yahoo.com More from Briefing.com: Close Dow -90.85 at 9819.87, S&P -10.87 at 1065.45, Nasdaq -6.96 at 1656.93: Yet another down day for the market averages. The session began with a mixed to slightly firmer bias as the semiconductor and healthcare sectors provided a bit of a lift. The semi group was underpinned to some extent by the news that NVIDIA (NVDA +16.6%) provided upside guidance for Q1 and restated earnings for last year's Q1, FY02 and FY00 as part of SEC review which will result in a total net income increase of about $1.3 mln. The latter sector was in the spotlight in the wake of the announcement that Anthem (ATH -5.7%) is buying Trigon Health (TGH +17.3%). This increased speculation of potential further consolidation within the industry. Along these lines, Fulcrum said it believes there is a chance Wellpoint (WLP -1.8%) makes a run at Oxford Health Plans (OHP -2.7%). Stocks in the group on the rise included: FHCC (+2.7%), MEE (+3.2%) and HNT (+0.3%). The market was unable to build upon any rally attempts with the averages progressing steadily lower most of the session. Today marked a chart breakdown of sorts as the Dow failed on several occasions to work back through its 200 day simple moving average (9931) broken last week, the S&P 500 penetrated the lows from Feb and the Nasdaq Composite slipped under a retracement support at 1658. Based on the end results for the market and the fact that the internals were bearish today even during minor positive readings for the averages, it is readily apparent that buyers have been unwilling to step into the fray with any enthusiasm as earnings season continues and in front of the plethora of economic reports this week. The Dow has dropped 7 out of the last 9 sessions while the Nasdaq Composite and the S&P 500 have fallen 8 out of 9. While there are no concrete signs yet of a turnaround, some things to keep in mind are the increased likelihood of some bargain hunting at the end/beginning of the month, the deeply oversold technical posture and the fact that the Volatility index (VIX) is approaching the 27/28 area which has coincided with at least short term bottom within negative trends several times last summer and during the Jan/Feb decline. DOT -1.7%, SOX +0.3%, XOI -0.1%, NYSE Adv/Dec 1402/1742, Nasdaq Adv/Dec 1437/2104 5:12PM Genesis Microchip (GNSS) beats by 2 cents, issues rev guidance (20.28 -1.08) -- Update -- Reports Q4 pro forma EPS of $0.32, $0.02 better than the Multex consensus; revs were $56.1 mln, vs consensus of $55.6 mln. Expects Q1 revs will exceed $60 mln (consensus $60.9 mln) and FY03 revs of $250-$270 mln (consensus $259.0 mln)Update -- On call, says it believes the total LCD monitor market will be at least 36 mln units in calendar 2002... separately, expects 2.5 mln LCD TVs and monitors with TV function shipped in 2002; thinks 2003 LCD TV volume will grow 2-3x over 2002... GNSS +3.22 at 23.50. 4:37PM TTM Tech misses by a penny; guides lower (TTMI) 8.24 -0.29: Reports Q1 net of breakeven, a penny worse than the Multex consensus; revenues fell 48% year/year to $23.7 mln vs the $23.5 mln consensus. Guides Q2 to $22-24 mln revenues and EPS of a loss of $0.01 to a profit of $0.01, below current consenus estimates of $27.0 mln and $0.03. 4:23PM GlobeSpan Virata tops estimates (GSPN) 8.65 -0.70: Reports Q1 (Mar) loss of $0.01 per share, $0.01 better than the Multex consensus of ($0.02); revenues fell 19.9% year/year to $86.7 mln vs the $84.4 mln consensus. 4:05PM Rudolph Tech meets consensus, guides down for Q2 (RTEC) 30.35 -0.97: Reports Q1 EPS of $0.03, in line with the Multex consensus; revs were $12.0 mln, vsconsensus of $11.7 mln. Expects Q2 EPS of $0.03 and revs to grow 5-10% (roughly $12.6-$13.2 mln), vs consensus of $0.07 and $14.5 mln. 1:40PM SOX holds on first test of 510; helps equities lift off lows 515.71 +0.98: 1:07PM SOX falls into the red; off 3% from highs of day; intraday supports at 510 and 500 513.65 -1.08: 11:35AM Cypress Semi said to be having a strong quarter (CY) 21.65 +0.21: We are hearing trading floor talk that the co's qtr has started off on a very strong note, with revs likely tracking ahead of expectations (Multex consensus is for $201.2 mln in revs); the co is scheduled to present tonight at Merrill Lynch's Hardware tech conference at 5:00 PM ET. 10:53AM NVIDIA conference call 33.58 +3.21: -- Update -- Hearing that on conference call company is saying that it is seeing terrific momentum; believes that it has fulfilled SEC's mandate; co has implemented systems to assure that all will be done correctly in the future. According to sources on the call, NVDA expects non-Xbox growthto be over 65% for the yr. 8:32AM NVIDIA guides higher for Q1; restates results as part of SEC review (NVDA) 30.37: -- Update -- Co expects to post Q1 net of $0.45-$0.48 on revenues of $570-$580 mln. Both figures exceed current consensus of $0.43 and $530.9 mln. NVDA also announces it will restate results for last yr's Q1, and for fiscal years 2001 and 2000. Restatement will result in a total net income increase of about $1.3 mln. NVDA will host a conference call today at 10:30 ET; dial in 888-282-0379. 8:31AM NVIDIA CFO takes leave of absense (NVDA) 30.37: Announces that CFO Christine B. Hoberg is taking a leave of absence. Mary Dotz, NVIDIA's Corporate Controller, has been named interim CFO. The Board of Directors is initiating a search for a permanent CFO. 9:32AM Maxim Integrated upped by CSFB after earnings (MXIM) 48.94 +0.75: CSFB ups to BUY from Hold following co's Q3 earnings report. For the period, MXIM posted earnings of $0.19 per share, in line with the Multex consensus. Revs fell 35% to $258.5 mln vs the $259.5 mln consensus. "For the first time in six quarters, we have begun to build backlog which, if continued, should improve visibility in future quarters." 9:29AM Lattice Semi upgraded at Needham (LSCC) 11.30: Needham upgrades to STRONG BUY from Buy, saying that near-term weakness in core product line and acquired FPGA biz should not keep investors from what firm believes may be the co's best product/mkt positioning in years; Price target is $16. 9:24AM Veeco Instruments downgraded at Needham (VECO) 29.50: Needham downgrades to HOLD from Buy after the firm changed their model to no longer exclude certain extraordinary charges; co has reported extraordinary expenses in 5 of the last 8 qtrs at an avg of $7.8 mln per qtr of which approx $3.4 mln per qtr was related to write-offs of existing operations. Cuts 2002 est to $0.11 from $0.17 and 2003 to $0.66 from $0.74. From Friday: Veeco Instruments (VECO) 29.50 -2.44: Reported Q1 (Mar) net of breakeven, $0.06 better than the Multex consensus of ($0.06); revenues fell 36.1% year/year to $80.1 mln vs the $72.4 mln consensus. Guided Q2 to breakeven EPS and revenues of $75-80 mln, in line with consensus estimates of breakeven and $76.6 mln. finance.yahoo.com Still holding all under water positions and hoping for a rally tomorrow. RtS

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