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

To: Return to Sender who wrote (10139)	6/16/2003 11:09:24 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95530

From Briefing.com: 10:49AM Micron: Rally not commensurate with fundamentals -- Moors & Cabot (MU) 12.83 -0.25: Moors & Cabot believes that recent run up in the stock has been related a recent firming of DRAM pricing, as investors speculate on the sustainability of demand trends. In an internal call, firm indicates that it does not believe demand trends will be sustainable, and thus believes pricing in the DRAM market will decline after almost two months of stability. Recommends that investors reduce their exposure to the stock, on view that there is significant downside potential versus upside from current levels. 9:58AM Analog Devices: Bookings likely flattening -- Bear Stearns (ADI) 33.62 -0.82: Bear Stearns checks indicate that bookings for high performance analog components, while still healthy, have flattened out after a strong start to the year. Firm believes that book-to-bill ratios are poised to decline as we head into the summer, which could cause revenues to flatten out as we progress into 2H03. This could impact ADI's October and January-ending quarters. Firm believes revenue upside potential could be limited later in the year. 9:32AM Axcelis Tech initiated with Outperform at SG Cowen (ACLS) 6.10 +0.08: SG Cowen initiates coverage on ACLS with an Outperform rating, saying the co's implant biz (80% of revs) will surge as capacity orders return; firm also notes that the stock at $6 trades at only 1.3x book value. 9:31AM S&P 500 and Dow levels : -- Technical -- Initial resistance for the S&P 500 is in the 991.50/992.50 area with a secondary zone at 994/995. Support is in the 990/989 area. Resistance for the Dow is at 9145/9155 area with the next barrier of interest near 9175. Intraday support is at 9130/9120. 9:30AM Nasdaq technical levels : -- Technical -- From current levels, the index faces initial resistance at 1638 followed by additional overhead in the vicinity of 1646. To the downside, look for initial support at 1632, followed by an additional floor 1626. 8:12AM Lexar Media added to JP Morgan Top 3 Ideas list (LEXR) 8.42: Firm views stock as undervalued at 19.6x fiscal 2004 earning estimate, a 21% discount to co's growth rate and a 28.7% discount to competitor SanDisk (SNDK). Firm notes that investors should be prepared for the co to issue debt or equity to bolster the balance sheet, following through on a shelf registration completed in Feb. 8:10AM NY Empire State Index : The June data came in at 26.8 vs the consensus estimate of 8.8 and the May report of 10.6. 7:42AM Standard Micro guides Q2 & Y04 in line with consensus (SMSC) 15.25: Company issues guidance for Q2 (Aug), sees EPS at $0.05, vs Reuters Research consensus of $0.04, and revs of $$44-45 mln vs estimate of $42 mln; co also sees Y04 EPS of $$0.24-0.28 vs R.R. estimate of $0.20 and Y04 revs of $178.85 mln (approx 15% YoY growth) vs R.R. estimate of $180 mln. 7:23AM PMC-Sierra upped to Sector Perform at CIBC (PMCS) 11.47: The upgrade from Sector Underperform is based on valuation. Firm views PMCS as a premium co in the sector that should outperform most peers. Also comments on co's exposure to access networks and sees PMCS as a beneficiary of increased DLS rollouts, which should keep shares at a premium valuation. finance.yahoo.com^SOXX+ADI+ACLS+ALTR+AMAT+AMD+BRCM+CY+INTC+KLAC+LEXR+LLTC+LSCC+LSI+MOT+MU+MXIM+NSM+NVLS+PMCS+SNDK+TER+TXN+XLNX+^IXIC+^NDX+^SPX+^VIX+^VXN+^STI.N+^STI.O+SMH&d=t finance.yahoo.com