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

To: Cary Salsberg who wrote (9662)	5/2/2003 8:53:10 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95646

Updated: 02-May-03 - General Commentary - Indices spent another day consolidating, as excitement over earnings gives way to trepidation over the economy. Yesterday's weaker than expected Claims, ISM and Productivity data reinforced fears that economy headed toward recession. However, fact that market was able to shrug off early, data-related declines and close near unchanged levels, suggests that investors remain willing to blame weakness in the economy on the war. Consequently, even if this morning's jobs data are soft (consensus calls for drop of 58k), Briefing.com doubts market/sector will spend much time licking its wounds. Traders seem content to wait it out and see what next month's data look like before hitting the panic button on the economy. Absent the soft data, there's not much to dissuade investors from the long-side of the market. Technicals, while short-term overextended, continue to flash buy signal; earnings are on the rise - even without a pick-up in demand; companies are getting lean and mean; breadth is impressive with all industry groups participating in the recovery effort. Confluence of these factors should keep a relatively tight floor under the sector/market. Robert Walberg, Briefing.com 5:23PM Axcelis Tech beats by $0.01, guides below consensus (ACLS) 5.70 +0.02: Reports Q1 (Mar) loss of $0.06 per share, $0.01 better than the Reuters Research consensus of ($0.07); revenues rose 32.7% year/year to $82.4 mln vs the $80.9 mln consensus. Company sees Q2 loss of $0.10-0.12 vs R.R. consensus of a loss of $0.05, revs $0.75-0.85 mln, est $82.8 mln. 4:42PM Cypress Semi guides Q2 above consensus (CY) 9.48 +0.76: Co issues press release raising Q2 outlook to $0.03 on revs of approx $200 mln (Reuters Research consensus $0.01 and $192.83 mln). CY cites strength in the wireless segment and an increasing adoption rate for USB 2.0 controllers. CY says it "delivered the news at the company's 2003 Stockholder's Meeting." 4:36PM CY raises guidance 4:17PM Genesis Microchip tops estimates; updates guidance (GNSS) 17.06 -0.05: Reports Q4 (Mar) earnings of $0.12 per share, $0.01 better than the Reuters Research consensus of $0.11; revenues fell 2.3% year/year to $54.8 mln vs the $54.1 mln consensus; says Q1 revs will "increase modestly" from Q4 to between $55.0 - $55.5 mln. Reuters Research consensus estimate is for revs of $55.6 mln. 4:13PM ON Semiconductor beats by $0.02 (ONNN) 1.46 +0.10: Reports Q1 (Mar) loss of $0.17 per share, $0.02 better than the Reuters Research consensus of ($0.19); revenues fell 1% year/year to $266.5 mln vs the $260.2 mln consensus. 4:03PM American Power beats by a penny (APCC) 15.96 +0.38: Reports Q1 (Mar) earnings of $0.15 per share, $0.01 better than the Reuters Research consensus of $0.14; revenues rose 4.1% year/year to $309.0 mln vs the $307.5 mln consensus. Microsemi (MSCC) 12.59 +0.86: UBS ups to Buy from Neutral on firm's belief that military/aerospace prospects will improve across the balance of 2003, and that commercial IC opportunities offer upside potential to firm's estimates for then 2nd-half of yr and beyond. Stock currently trades at 1.5x sales, but thinks could trade to 2.4x as visibility for commercial product lines such as wireless PAs builds. Target goes to $16 from $12. Centillium (CTLM) 6.55 +0.76: Needham upgrades to Buy from Hold following better than expected results; firm says the primary reason for our upgrade from Hold to Buy is the progress in China, exemplified by the new win for ADSL CO chips with Huawei, where TXN remains the lead vendor. Target is $8. Aeroflex (ARXX) 5.77 +0.39: UBS ups to Buy from Neutral... Believes that uncertainties surrounding JunQ growth prospects are adequately reflected in the current valuation. Target $7. finance.yahoo.com^SOXX+ACLS+ALTR+AMAT+AMD+APCC+ARXX+BRCM+CTLM+CY+GNSS+INTC+KLAC+LLTC+LSCC+LSI+MOT+MSCC+MU+MXIM+NSM+NVLS+ONNN+TER+TXN+XLNX+^IXIC+^NDX+^SPX+^VIX+^VXN+^STI.N+^STI.O+SMH&d=t RtS