Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kirk © who wrote (9913)	5/29/2003 6:06:30 PM
From: Return to Sender	Respond to of 95743

From Briefing.com: Despite broader market sell pressure, the Nasdaq scratched together yet another modest gain. In a session somewhat similar to Wednesday, the index turned notably strong volume surpassing 2.2 billion total shares traded. Note that from a technical perspective, the Nasdaq managed to hold our support point in the range of 1567 to 1571 -- an area identified as final support in our Technical Levels column this morning. Nonetheless, it also topped out at 1591 intraday, and closed comfortably within the lower half of its intraday range. So all in all, the index is situated similarly to the way it looked last night. It continues to 'hesitate' in the vicinity of current levels, and the price action could be characterized as 'toppy'. Yet at the same time, it would probably be a reach to characterize that Thursday session as a strict sell signal. The near-term outlook would begin to deteriorate on a failure to hold support at 1567, and the near-term bias would become more firmly bearish on a violation of 1553. With those parameters identified, it's worth reiterating that for the time being, the near-term bias remains bullish. Look for an active day on the economic front Friday. Both Personal Income and Personal Spending data -- reports Greenspan tends to favor -- are due out Friday morning at 8:00 ET. Those two numbers are followed by revised Michigan Sentiment at 9:45 ET (somewhat less important) and the Chicago Purchasing Manager's Index (PMI) set for release at 10:00 ET. The Chicago PMI is among the two most closely watched regional manufacturing surveys -- Philly is the other -- and that number has the capacity to move the market. -- Mike Ashbaugh -- Briefing.com 5:09PM Novellus sees pricing pressures on Q2 gross margins (NVLS) 32.17 +1.10: -- Update -- On call, NVLS says it expects Q2 (June) gross margins to come in about 1% lower than Q1 (Mar) gross margins of 41.6%... Management cites product mix and non-recurring upgrades for the decline... Adds that operating expenses will be higher in Q2 on account of higher legal fees. 4:45PM Novellus comments on 2H03 prospects (NVLS) 32.17 +1.10: -- Update -- On call, NVLS says it expects a stronger 2H03, but admits visibility remains uncertain... NVLS is lower by $0.49 in the after hours session, bringing its price to $31.68. 4:43PM Novellus seeing a large impact from SARS (NVLS) 32.17 +1.10: -- Update -- On mid-quarter call, NVLS says it has experienced operational difficulties in Japan, Southeast Asia, and China as a result of SARS... Management adds that bookings in Southeast Asia are underperforming, whereas bookings in Japan are above forecasts. 4:39PM Novellus maintains Q2 guidance (NVLS) 32.17 +1.10: -- Update -- On call, NVLS reaffirms its prior Q2 (June) outlook, which was EPS of $0.05, revenues of $238 mln, shipments of $215 mln, and bookings of $188 mln... Reuters Research consensus estimate for EPS is $0.05, and for revenues is $237.4 mln. 10:30AM Sector Watch: Semiconductor : Sector index (SOX 374 +2.9%) has established a new high for the move in recent action with MU +4.6%, NSM +4.7%, TXN +4.1%, MXIM +4.1%, INTC +3.8%, LSCC +3.6% pacing the way. Next resistance for the index are at 375 and 380/381. Resistances for the Semi HOLDRs (SMH at 29.70) are at 29.80 and 30/30.07. 9:34AM Micrel upgraded at JMP (MCRL) 11.11 +0.35: JMP Securities upgrades MCRL to Mkt Outperform from Mkt Perform based on gradually improving fundamentals in the co's analog and power mgmt businesses, which should lead to accelerated rev growth over the next 12-18 months as well as improved operating leverage. Target is $14. Veeco Instruments (VECO) 18.65 -0.23: UBS cut to Reduce from Neutral based on valuation and because stock has exceeded firm's price target finance.yahoo.com^SOXX+ALTR+AMAT+AMD+BRCM+INTC+KLAC+LLTC+LSCC+LSI+MCRL+MOT+MU+MXIM+NSM+NVLS+TER+TXN+VECO+XLNX+^IXIC+^NDX+^SPX+^VIX+^VXN+^STI.N+^STI.O+SMH&d=t