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

To: Donald Wennerstrom who wrote (10699)	7/24/2003 2:45:12 AM
From: StanX Long	Read Replies (1) \| Respond to of 95487

Thanks Don and nice job on doing the due diligence. PE AMAT 42 KLAC 51 LRCX 62 AMAT $23.43 - $28.50 possibility ;0) Stan

To: Donald Wennerstrom who wrote (10699)	7/24/2003 8:28:27 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 95487

If an upturn starts in force, does anybody here really think that todays EPS estimates will even be close to actual numbers, especially with the way in which most of the companies have cut to the bone?

To: Donald Wennerstrom who wrote (10699)	7/24/2003 10:49:17 AM
From: Return to Sender	Respond to of 95487

From Briefing.com: 9:36AM Kulicke & Soffa misses, guides (KLIC) 8.15: Reports Q3 (Jun) loss of $0.23 per share, $0.01 worse than the Reuters Research consensus of ($0.22); revenues fell 3.5% year/year to $127.7 mln vs the $126.6 mln consensus. 9:30AM Technical Levels : The market is poised for a positive start with important short term resistance for the Nasdaq Comp in the 1734/1737 area (gap/retracement). Secondary resistance is at 1747. Supports are at 1725 and 1720. Resistances for the S&P 500 are at 995/995.60 (recent intraday pivot/retracement) and the 998 area. Initial support is at 993/992 with a more important floor at 990. 9:29AM Ultratech Stepper beats by $0.06, ex items (UTEK) 24.73: Reports Q2 (Jun) pro forma earnings of $0.05 per share, ex items, $0.06 better than the Reuters Research consensus of ($0.01); revenues rose 19.8% year/year to $24.8 mln vs the $23.3 mln consensus. 9:17AM The Technical Take : A positive but not exactly rousing day for the bulls as choppy trade at steady to slightly weaker levels dominated for the first half of the day. The market averages were able to push above the flat line in afternoon action but the move elicited only minor follow through interest with cautious trade below the highs evident over the last hour. Volume has been positive for the Nasdaq Comp as rallies over the last two days has improved but the totals have remained below average. The trading pace for the NYSE has, like the price action in the S&P 500 and Dow, been neutral. Nothing too surprising here given a typical lower trading pace in the summer and the fact that the averages sprinted hard into this earnings season and have been consolidating these gains. While we have been cautious/neutral of late as the market averages as well as a number of sector indices pulled back toward chart and moving supports, these levels continue to hold. Unless a sustained penetration of these floors is seen, the recent action has to be considered merely a short term pause within the underlying intermediate term bull bias. Nasdaq Composite: The successful retest of support in the 1686/1684 area for the Nasdaq Comp has contributed to the modest upside bias over the last two days but we remained concerned as a number of short term levels as well as a possible island reversal top (gap up July 14, gap down July 17) raised the specter of additional selling pressure. 9:14AM Foundry Ntwks downgraded at RW Baird (FDRY) 17.38: RW Baird downgrades to Neutral from Outperform based on high valuation and lack of a major near-term catalyst; raises target to $16 from $15. 9:11AM Celestica misses by $0.03, guides in line (CLS) 15.35: Reports Q2 (Jun) loss of $0.07 per share, $0.03 worse than the Reuters Research consensus of ($0.04); revenues fell 28.9% year/year to $1.60 bln vs the $1.62 bln consensus. Company sees Q3 EPS of a gain of $0.02 to a loss of $0.05 vs consensus breakeven, revenues $1.55-1.7 bln, consensus is $1.68 bln. 8:45AM Chiron upgraded at RBC (CHIR) 48.15: RBC Capital upgrades to Outperform from Sector Perform based on expectations for healthy accretion from CHIR's acquisition of PowderJect Pharma; firm continues to believe the PJP acquisition is a strong strategic play, as they project long-term growth of 26% (up from 19%) and a U.S. beachhead with a #2 U.S. position with PJP's Fluvirin vaccine; raises target to $60 from $50. 8:45AM Economic Review - Initial Jobless Claims : Initial jobless claims for the week ended July 19 fell 29k to 386k, a much lower level than consensus expectations of 415k. First week in 23 (the February 8 report) that claims came in below 400k. Four-week moving average fell by 5.5k to 419.25k - lowest read since March 8. Continuing claims fell 24k to 3.605M during the week ended July 12 (this measure is lagged one week) - this is the lowest level since April 12. Very positive report for the labor market specifically and for the economy generally. Bonds gave back early gains after the print; ten-year Treasury down 12/32nd's now to yield 4.16%. 8:30AM Cabot Micro beats by $0.02 (CCMP) 57.88: Reports Q3 (Jun) earnings of $0.40 per share, $0.02 better than the Reuters Research consensus of $0.38; revenues rose 3.4% year/year to $64.3 mln vs the $63.2 mln consensus. 8:18AM Lam Research upgraded at RBC (LRCX) 21.79: RBC Capital upgrades to Outperform from Sector Perform following in-line results; firm continues to believe that mgmt is executing well in its ongoing strategy to outsource manufacturing and certain administrative functions, and that over the course of the next few qtrs the co will have made significant improvements in operating leverage compared to the last industry cycle. Target is $25. 8:06AM Electroglas beats by $0.13, guides Q3 revs (EGLS) 2.00: Reports Q2 (Jun) loss of $0.55 per share, $0.13 better than the Reuters Research consensus of ($0.68); revenues fell 49.8% year/year to $10.3 mln vs the $10.0 mln consensus. The Co guides Q3 revenues of $10-$13 mln vs. Reuters Research consensus of $10.9 mln. finance.yahoo.com