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

To: Gottfried who wrote (5980)	10/9/2002 11:54:02 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95530

From Breifing.com: KLAC KLA-Tencor exhibits relative strength (27.16 +0.45) -- Update -- -- Technical -- Stock edges over resistance at 27.15 -- look for subsequent overhead at 27.60 followed by 28.00. The favorable intraday tone would be placed in question on a failure to hold initial support at 26.90. 10:34AM Nasdaq edges into positive ground : -- Technical -- Index has edged just over the flatline on relatively strong volume. To the upside, watch for initial resistance now at 1138/1140 followed by additional overhead at 1145. To the downside, look for initial support at 1126 followed by an additional floor at 1120. 10:20AM SOX +1.8% continues advance : Top movers in the Semi/Semi Equip sector in early trade include AMAT +4.7%, LSI +4.5%, XLNX +4.4%, IRF +4.2%, IDTI +4.1%, CY +3.8%, LLTC +3.6%, KLAC +2.5%. 10:10AM SOX -0.1% moves to morning highs led by AMAT +3.1%, KLAC +2%, XLNX +1.9%, LSI +1.6% : 9:53AM ADBE early weakness blamed on Ballmer : Adobe (ADBE 18.67 -1.30, -6.7%) shares experience notable decline in early trading. Talk on trading floors is that weakness is tied to comments made by Microsoft's Steve Ballmer about a product that could compete with Adobe. Comments said to have been made at the Gartner Symposium in Orlando. Briefing.com does not have a representative at the conference. 9:22AM Hewlett-Packard not counting on 2003 tech recovery - Reuters (HPQ) 11.54: Reuters reports that EVP Michael Winkler said that HPQ is not counting on a pickup in the technology industry in 2003, but said their target to save more than $3 bln annually in operating costs from the Compaq acquisition should provide a cushion others don't have. 9:10AM KLA-Tencor could be weak off ADE Corp layoffs - Fulcrum (KLAC) 26.71: Fulcrum believes that the announced headcount cut at competitor ADEX is a sign of a worsening business environment; given mkt perception that KLAC's stock is overvalued, there could be a selling pressure on KLAC as a reaction on the news at ADEX. 8:47AM Goldman Sachs cuts targets on S&P, Dow : Abby Cohen at Goldman Sachs cuts her S&P 500 target to 1150 from 1300 and Dow Jones Industrial target to 10,800 from 11,300; says the uneven pace of economic activity has raised concerns about a double dip back into recession and perhaps deflation, which is not likely, but worries are intensified by sluggish conditions outside the US and the possible consequences of a poor outcome with regard to Iraq; share prices are being held down mainly by intense risk aversion, yet corp profits have begun to recover and inflation remains at bay. Says valuations are "appealing." 8:25AM Microsoft: tax law change may reduce estimates - CIBC (MSFT) 44.93: CIBC says that the cancellation of the Extraterritorial Income Exclusion Act due to a World Trade Organization ruling is likely to reduce export subsidy income for several large U.S. co's, including MSFT, which reportedly benefited by $0.06 from ETI in FY02; when repeal occurs, firm could cut ests by $0.07 per year and cash flow by $400 mln going forward; cuts price target to $57 from $65 following transfer of coverage. 7:45AM General Electric estimates cut by Morgan Stanley (GE) 23.35: -- Update -- Morgan Stanley reduces 2003 estimate to $1.70 from $1.79 ( Multex consensus $1.75) and lowers growth rate to 9%. Firm cites short cycle weakness, deterioration in key long cycle markets (power, aerospace) and concerns over losses in the GE Capital portfolio. Firm reiterates its Equal-Weight rating, although it believes the risk of a "perfect storm" is rising. finance.yahoo.com^SOXX+ALTR+ADBE+AMAT+AMD+BRCM+GE+HPQ+IDTI+INTC+IRF+KLAC+LLTC+LSCC+LSI+MOT+MSFT+MU+MXIM+NSM+NVLS+TER+TXN+XLNX+^IXIC+^VIX&d=t Thanks for the bear/bull ratio discussion link. RtS