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

To: Gottfried who wrote (3638)	6/25/2002 11:13:02 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95564

From Briefing.com: 10:33AM Cisco Systems briefly hit by rumor (CSCO) 14.32 +0.26: Stock dipped briefly as a rumor made the rounds that company was talking down its numbers in Europe; the company did present earlier at a Nasdaq 100 conference in London, but we're hearing that they didn't make any comments on sales and that this rumor does not appear to be credible. Stock has rebounded as a result. 10:22AM Nasdaq Composite Intraday : -- Technical -- Index jumped higher off the but failed to take out yesterday's recovery peak. It edged higher again in the wake of the data but this time proved unable to take out the opening high. Initial supports are at 1456/1454 and 1450 with a secondary zone at 1440/1438. Ability to hold here keeps the index positioned for at least a follow through attempt short term. Next resistances are at 1481, 1491/1495 and 1505/1510. Failure to hold near supports in the wake of the solid recovery just yesterday would be disappointing. 9:44AM Sector Watch : Solid start for the market averages as they attempt to build upon yesterday's recovery rally. Semi (SOX +1.4%) and biotech (+2.2%) provided leadership during the initial stages of the bounce and they paced the way higher off the open. Other tech sectors on the move include: software, Internet, wireless and telecom. On the move outside of tech are: retail, broker/dealer, banking, defense, homebuilding and video game. Limited list of losers includes gold, computer-hardware and selected storage 10:02AM Consumer Confidence 106.4; Existing Home Sales -0.3%; both better than consensus : Consumer Confidence fell to 106.4 in June from 110.3 in May; the 3.5% decline was not quite as bad as the 6.3% drop in the previously reported Michigan index and was a bit better than the 106.0 consensus. Existing Home Sales fell x0.3% in May to a 5.75 mln rate which was also better than the 5.70 mln consensus. The Dow has jumped 30 pts to +99 after the confidence report, which will bring some relief to the market following the weak Michigan number. 9:16AM Altera upgraded at Needham (ALTR) 14.45: Needham upgrades to STRONG BUY from Buy; in addition to a more attractive valuation, firm believes that the introduction of the Stratix device family holds positive significance, and that the cyclical and secular trends embedded in the PLD sector in general and ALTR specifically should offer on-going earnings benefits over the next several years. Raises price target to $21 from $20. 7:46AM Micron trading at trough levels -- Merrill Lynch (MU) 19.72: Merrill Lynch reiterates Strong Buy rating ahead of this evening's earnings report. Believes MU is one of the few names it covers that is truly at trough valuation levels with improving fundamentals. However, in light of continued pricing weakness, firm believes its August and FY03 estimates appear aggressive. 7:41AM Novellus qtr on track -- Merrill Lynch (NVLS) 33.44: Merrill Lynch believes that company is on track to meet the $275 mln order outlook for Q2. Considers concerns about convertible debenture overblown. Reiterates Strong Buy rating on very attractive valuation, as EPS run rate implies 12-month appreciation potential of 50%. From Yesterday: Amkor (AMKR) 5.61 +0.51: Weisel Partners believes co. is on track to meet its revised guidance, although higher than expected expenses may cause downside to bottom line; believes co. will show significant growth and gross margin improvement in Q202 and going forward; thinks shares are currently massively oversold; maintains BUY rating; suggests building sizable positions, particularly due to recent share price weakness. Entegris (ENTG) 11.79 +0.80: After close, reports Q3 (May) earnings of $0.04 per share, $0.04 better than the Multex consensus of $0.00; revenues fell 26.6% year/year to $59.7 mln vs the $55.6 mln consensus; sees Q4 sales in the range of $62-$66 mln vs the current consensus estimate for revs of $65.2 mln. finance.yahoo.com^SOXX+^IXIC+^VIX+^TIC.O&d=t Great links Gottfried. I bookmarked them. Also as always thank you for all the hard work on your charts. RtS