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

To: Gottfried who wrote (4940)	8/19/2002 10:12:52 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95572

From Briefing.com: 5:31PM After Hours Monday Changes vs the 4 pm close: A weaker bias is evident in after hours trade but activity is limited in scope with volume light. A sizeable loss is being posted by Credence (CMOS -7.8%) after the company reported in line for Q3 (July) with revenue slightly above the consensus. Reports also surfaced that the company will be cutting roughly 150 jobs or 11% of its work force. Another significant decliner is Agilent (A -8.7%). The company missed for Q3 EPS by $0.16 with revenue down 23.5% to $1.39 bln vs $1.54 bln consensus; now expects Q4 revenue in the range of $1.6 bln to $1.7 bln which is in line with the current consensus estimate for of $1.66 bln. 3:36PM Marvell (MRVL) 20.12 +1.99: Ahead of co's Q2 report on Thurs, Merrill Lynch and Goldman Sachs reiterate their positive stance towards shares, citing favorable risk reward. Merrill adjusts their model to incorporate more conservative assumptions on gross margins, but more aggressive assumptions on revenue growth from the gigabit Ethernet, Serial ATA and Wireless LAN businesses; maintains their Strong Buy ratings and $28 price target. Golman Sachs believes that despite softening in the storage mkt, MRVL will see good momentum across both its storage and datacom products and expects visibility to remain strong heading into Q3. Firm believes stock is heading back into the $20s and reiterates that it is their favorite stock in the comm IC universe ... MRVL advances 11%. 3:07PM Nokia (NOK) 14.15 +0.57: UBS Warburg and Gerard Klauer Mattison offer their upbeat outlook for handset sales after SG Cowen downgraded NOK last Wed on lack of growth in the handset mkt. UBS talked to EPCOS of Germany (the 2nd-largest passive component supplier globally) and believes co's statements confirm that the cell phone mkt is on track with expectations; maintains their ests, Buy rating and $20 price tgt ... GKM upgrades NOK to OUTPERFORM from Buy on their belief H2 handset sales will be stronger than H1, reaching 400 mln units by year-end; firm expects NOK to maintain at least 35% share through year-end 2002. 2:33PM LTX Corp (LTXX) 10.83 -0.08: Stock drops off on Deutsche Securities cautious sector call and move to cut ests on LTXX; firm sees a number of issues continuing to weigh on the group for at least the next several months; names a high likelihood that many cos will miss Q3 order guidance and checks that suggest continued deterioration in Q4 forecasts. Deutsche Sec's analysis indicates there could be 30% downside in many names; cuts 2002/2003 ests on LTXX to reflect growth off a lower base in 2002 due to likelihood for flat to down order trends through H2. 12:55PM Soundview on Semis : In pre-open note, firm recommends investors buy Applied Materials (AMAT 15.35 +0.65), Novellus Systems (NVLS 30.63 +1.48), or Lam Research (LRCX 14.85 +0.61), rather than KLA-Tencor (KLAC 40.40 +1.32) citing KLAC's 18% depreciation over past yr vs. AMAT's 31%, NVLS's 40%, and LRCX's 45%. Partly due to placement in unusually stable segment of very volatile industry, KLAC almost always trades at justifiable premium valuation to its competitors. However, current premium is unusually extreme; has been this high only three times in past 10 yrs, all of which signaled periods of poor performance for stock relative to group. If semi capital equipment rebounds in coming months as firm expects, KLAC should underperform peer group. Should semis decline or plateau, firm thinks KLAC has more downside potential; thinks AMAT, NVLS, and LRCX offer compelling risk/reward. finance.yahoo.com^SOXX+A+ALTR+AMAT+AMD+BRCM+CMOS+INTC+KLAC+LLTC+LSCC+LSI+LTXX+MOT+MU+MRVL+MXIM+NOK+NSM+NVLS+TER+TXN+XLNX&d=t RtS