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

To: MrGreenJeans who wrote (6233)	10/17/2002 9:00:23 AM
From: Return to Sender	Respond to of 95427

From Briefing.com: 8:57AM Cypress Semi meets estimate but warns (CY) 4.98: Reports Q3 (Sep) loss of $0.03 per share, in line with the Multex consensus of ($0.03); revenues rose 13.7% year/year to $205.0 mln vs the $204.9 mln consensus. Company sees a 5-10% sequential decline in Q4 revenues, or about $185-195 mln vs the consensus of $206 mln, cites anemic PC demand and ongoing troubles in communications sector. 8:56AM Taiwan Semi expected to give bearish update - SG Cowen (TSM) 6.89: SG Cowen expects TSM to give a very bearish update and disappointing Q4 guidance when they report next Tues, as order flow continues to deteriorate; expects Q4 wafer shipments to be 5-10% lower than firm's original forecasts of 553k 8-inch equivalent wafers in Q4, and expects Nov sales to come in under forecast. S&P futures vs fair value: +24.0. Nasdaq futures vs fair value: +34.0. Starts much stronger than expected; claims worse Housing Starts soared 13.3% to 1.843 mln, well above the consensus of 1.64 and the best reading since 1986; starts may have been helped by mild September weather. However, permits also were very strong, rising 3.7%, and suggesting underlying strength in housing continues. Jobless claims jumped 22K to 411K, reversing the prior week's decline and indicating that this recovery continues to be a jobless recovery. Bullish bias in the futures market persists in the wake of the slightly weaker than expected Jobless Claims number and the stronger than expected Housing Starts and Building Permits data... On balance, traders look to be honing in more on the Starts and Permits data given recent concerns about some weakening in the housing sector, which has been a pillar of support for the economy 7:35AM IBM upgraded at Merrill Lynch, Bear Stearns (IBM) 64.90: -- Update -- Merrill Lynch upgrades to BUY from Neutral, saying IBM is clearly outperforming its competition with superior strategy and execution, although weak IT spending may limit the upside; cuts 2003 est to $4.30 from $4.50; price target is $82. Separately, Bear Stearns upgrades to OUTPERFORM from Peer Perform. On the other hand, JP Morgan maintains their Neutral rating, as they continue to believe that IBM's service-centric business model positions the co well once IT spending recovers, but prefers to wait on the sidelines for a more attractive valuation. 7:27AM Eastman Kodak boosts Q3 outlook 42% above consensus (EK) 30.35: Raises Q3 outlook to $1.04 a share and Q4 to a range of $0.60-$0.70. The Multex consensus estimates for the quarters were $0.73 and $0.66, respectively. EK says presently surprised by the increased productivity across the company. 7:19AM EMC Corp posts in line results (EMC) 4.76: Reports Q3 loss of $0.02 per share, in line with the Multex consensus. Revs rose 3.9% year/year to $1.26 bln vs the $1.25 bln consensus. 7:17AM Nokia rises 10% on penny-better earnings and positive Q4 outlook (NOK) 15.00: Reports Q3 earnings of $0.18 per share, $0.01 better than the Multex consensus. Revenues rose 2.5% year/year to $7.05 bln vs the $7.18 bln consensus. For Q4, co sees earnings of EUR $0.23-$0.25 (or U.S. $0.225-$0.245 vs Multex consensus of $0.23). Puts Q4 sales at EUR 8.9-9.2 bln (or U.S. $8.68-$8.97 bln vs consensus of $8.71 bln). 7:12AM Tyco auditor unlikely to certify by earnings release date (TYC) 12.87: The Wall Street Journal reports that TYC's auditor, PricewaterhouseCoopers, is unlikely to certify the co's financial statements by Oct 24, when the co is scheduled to release its Q4 earnings; Pricewaterhouse instead plans to await the results of a separate forensic audit of TYC's books dating back to 1999, which is expected to be completed in late Nov. finance.yahoo.com^SOXX+ALTR+AMAT+AMD+BRCM+CY+EMC+IBM+INTC+KLAC+LLTC+LSCC+LSI+MOT+MU+MXIM+NOK+NSM+NVLS+TER+TSM+TXN+TYC+XLNX+^VIX+^IXIC+^SPX&d=t RtS