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

To: Gottfried who wrote (5973)	4/23/2003 11:24:41 AM
From: Jeffrey D	Read Replies (1) \| Respond to of 25522

Hey, we're a growth stock again!!! go figure. Jeff April 22, 2003 (ODJ Select via COMTEX) -- While buyers of value stocks stocked up on financials, growth-share mavens returned to semiconductors, raising the Philadelphia Stock Exchange Semiconductor Index by another 3%, with the barometer now up 19% over the last seven trading sessions. Tuesday's chip-related gainers included Novellus Systems, gaining 1.07, or 3.8%, to 29.47, Applied Materials, ahead 82 cents, or 5.5%, to 15.81 and Cree, ahead 74 cents, or 3.6%, to 21.36 and whose quarterly revenue jumped 80% from a year earlier to $60 million. All three trade on the Nasdaq. But telecom stocks saw fierce selling, led by Sprint PCS Group, which dove 75 cents, or 17%, to 3.71 after a first-quarter report that raised concern over subscriber-growth rates and revenue trends. Analysts said the main concern stemmed from a decline in average revenue per user - a key business measure in the wireless industry. The company's FON group, which handles its fixed-line business, fell 59 cents, or 5.2%, to 10.68 after lowering fiscal 2003 expectations to $1.30 to $1.35 a share from $1.40 to $1.45 a share. Verizon Communications was a rare exception to the selloff, with shares rising 82 cents, or 2.5%, to 33.99 after reporting first-quarter operating earnings that met analysts' views and backing its 2003 earnings forecast of $2.70 to $2.80 a share, compared with analysts' views of $2.72. (MORE) Dow Jones Newswires