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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (4713)	1/2/2003 7:28:02 PM
From: advocatedevil	Respond to of 25522

"Chip Stocks Leap Over Naysaying Analysts" snip: Chip stocks opened 2003 with a flurry, even as some of the investing world's heavyweights were taking jabs at the sector. Thursday opened with two Wall Street banks issuing jaded predictions for early 2003. Merrill Lynch says it's shorting a basket of chip stocks, while Goldman Sachs warned of a falloff in tech spending. The comments, which focused in part on the weak economy and in part on the perceived priciness of semiconductor company shares, illustrate pundits' increasing wariness about the timing of any economic pickup. Yet PC and semi stocks vaulted higher, with the benchmark index rising 6%... thestreet.com AdvocateDevil

To: Proud_Infidel who wrote (4713)	1/3/2003 8:24:41 AM
From: Proud_Infidel	Read Replies (2) \| Respond to of 25522

Cadence raises 4Q forecast, takes $70 million charge Semiconductor Business News (01/02/03 08:10 p.m. EST) SAN JOSE--Cadence Design Systems Inc. here today raised its forecast for the fourth quarter of 2002, but it also plans to take a $70 million restructuring charge in the period. Cadence announced that fourth-quarter revenue will be in the range of $272-to-$278 million, due to greater-than-expected subscription-license product bookings. Subscription licenses accounted for 83% of product bookings, compared to 60% in the prior quarter. In accordance with generally accepted accounting principles (GAAP), the company expects to report net income of $88 million to $95 million and diluted net income per share of $0.32 to $0.34 for the fourth quarter. The company reported third-quarter pro forma diluted earnings per share of $0.15 on revenue of $327 million. In the like period a year ago, it reported revenue of $378 million and pro forma diluted earnings per share of $0.27. During the fourth quarter of 2002, the company continued to streamline for operational efficiency and rationalize product lines. This resulted in a restructuring charge of approximately $70 million, which is composed of severance, facilities closures and related asset write-offs. Cadence also received $265 million cash in the quarter from the settlement of the Avant! litigation. For 2003, the company expects product bookings to be approximately flat year-over-year, with subscription bookings expected to be 80-90% of total product bookings. These factors, combined with the cost savings implemented in the fourth-quarter restructuring, lead to expected pro forma EPS in 2003 of between $0.50 and $0.55.