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

To: Donald Wennerstrom who wrote (6466)	10/25/2002 12:32:09 AM
From: Gottfried	Read Replies (3) \| Respond to of 95531

Hi Don, checked Les' stats lately? Message 18155460 Looking at # stocks over 10 day ma it looks overbought for some sectors. In your absence charts were updated home.attbi.com and I observed how price predicted bookings. Not the other way around... home.attbi.com Some companies are increasingly being scrutinized for pension obligations. Healthcare and insurance are the only industries with pricing power. I think that will put a damper on earnings progress. PS: IBM is raising my healthcare premium $60/month next year. Gottfried

To: Donald Wennerstrom who wrote (6466)	10/25/2002 8:57:42 AM
From: Return to Sender	Respond to of 95531

We did not have to wait long. MU estimates raised. From Briefing.com: 7:46AM Micron estimates raised by Merrill Lynch, Solly (MU) 16.00: Based on improved avg selling price assumptions for DRAM chips, Merrill Lynch raises MU's Nov qtr rev/EPS ests to $951 mln/($0.07) from $826 mln/($0.20), well above consensus; in addition, firm says below-trend capacity expansion signifies a favorable environment for pricing, and top DRAM manufacturers like MU should continue to gain share. Separately, Salomon Smith Barney raises FY03-04 ests as well. 7:15AM Analyst Calls : Here are some of the early upgrades/downgrades taking place this morning: WYE and SGP upped to Equal Weight at Lehman; SLXP upped to Strong Buy and ROST upped to Buy at UBS; VSEA, NSM, CY, JDSU cut to Hold from Buy at UBS; KG cut to Hold at Pru. S&P futures vs fair value: -6.0. Nasdaq futures vs fair value: -3.5. Futures market did an about-face following the weaker than expected Durable Orders data... Recognizing that most of the drop in orders came from the aircraft component has mitigated some of the disappointment; nonetheless, there is some concern that the manufacturing sector continues to languish as evidenced by the 1.0% decline in orders ex-transportation and the 6.6% decline in nondefense capital orders ex-aircraft Durable orders weaker than expected Clearly the 5.9% durable orders number was weaker than the -1.5% consensus, but it's not quite as bad as it looks. We were waiting for a payback on recent strength in aircraft orders, which didn't reflect conditions in the industry; we got it this month (-46%). But ex-transportation, orders were down just 1.0%, which wasn't bad after the strength of the past two months. Perhaps the most disappointing number was the 6.6% decline in nondefense capital orders ex-aircraft. This decline completely unwinds the strong July increase of 6.7%. This may just be volatility, but along with other manufacturing evidence, it indicates that the manufacturing sector continues to drag along the bottom. ELX Emulex upped to Buy at Deutsche on valuation, target is $20 (13.80) KOPN Kopin cut to Underperform at CSFB; target $2.25 (4.41) CSFB downgrades to UNDERPERFORM from Neutral due to a fundamental change in its competitive dynamic. Firm is referring to the inability of KOPN to reach an agreement with a large customer, which suggests a shift to a more competitive market where technology barriers are "low enough" to allow competition at a certain price. Firm cuts price target to $2.25 from $2.75. finance.yahoo.com^SOXX+ALTR+AMAT+AMD+AOL+ASYT+ATYT+BRCM+CSCO+CY+ELX+FLEX+INTC+JDSU+KLAC+KOPN+LLTC+LSCC+LSI+LU+MCHP+MOT+MU+MXIM+NSM+NVLS+OSIS+PHTN+ROST+SGP+SLXP+TER+TQNT+TXN+VSEA+WYE+XLNX+ZRAN+^VIX+^IXIC+^SPX&d=t finance.yahoo.com RtS