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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (37884)	7/31/2002 12:09:02 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68177

10:46AM Analysts sour on Amkor (AMKR) by Tomi Kilgore Analyst Jonathan Joseph at Salomon Smith Barney downgraded Amkor Technology (AMKR) to "neutral" from "outperform," after the company cut its third quarter revenue growth forecast, citing downwardly revised customer forecasts over the last couple of weeks. Joseph also trimmed his price target to $6 from $8. The stock is sliding 85 cents, or 18 percent, to $3.96. Merrill Lynch also downgraded Amkor, saying the company has "waited too long to begin reducing their costs during the downturn." Analyst Brett Hodess lowered his intermediate- and long-term ratings to "neutral" from "buy" and "strong buy," respectively. Meanwhile, the company reported late Tuesday second quarter losses that were narrower than consensus analyst expectations on revenue that topped forecasts. [Harry: Confirms what most chip equpment companies are saying. You done need new packaging equipment if chip demand is weak.]