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

To: Donald Wennerstrom who wrote (11751)	9/22/2003 11:20:27 AM
From: Return to Sender	Respond to of 95639

From Briefing.com: 9:33AM Qualcomm target raised to $48 from $45 at Lehman (QCOM) 44.55 -0.50: -- Update -- Firm also raising SeptQ est to $0.29 from $0.28 and FY04 est to $1.31 from $1.30. 9:14AM Corning tgt raised to $12 from $10 at UBS (GLW) 9.73: UBS says that its checks continue to indicate very strong LCD glass demand and a tight supply situation. Due to improving growth outlook, firm raising its 2004 est to $0.31 from $0.28 and 2005 to $0.48 from $0.45. UBS also raising its price tgt to $12 from $10 with the higher multiple (25x 2005 est) reflecting firm's stronger conviction on Corning's growth outlook. 8:45AM New Focus to be acquired by Bookham for approx. $190 mln in stock (NUFO) 4.16: 8:26AM Toshiba and Samsung to integrate optical disk device biz : Toshiba Corp and Samsung Electronics today signed a memorandum of terms covering integration of their respective optical-disk-drive businesses in a joint venture. The new joint venture will bring together product and business planning, product development, procurement and sales for optical-disk drives, including CD-ROM and DVD-ROM drives. 8:19AM Taiwan Semi plans to double capacity in China -- Reuters (TSM) 11.72: Reuters reports that the world's largest contract microchip maker, said on Monday it plans to crank up production at a China plant opening next year to double its previously announced target. 8:11AM Maxim Integrated: Qualcomm adds three patents to suit -- Dow Jones (MXIM) 43.53: Dow Jones reports that Qualcomm (QCOM) expanding its patent infringement lawsuit against Maxim, siting an SEC filing. Maxim said in its financial statement for the fiscal year ended June 28 that Qualcomm has filed a motion to amend its lawsuit to include three additional "transmission related patents" that Maxim allegedly is violating. 7:57AM Asian Summary : Asian markets under pressure led by a 4.24% decline in Japan's Nikkei after the Yen surged to its highest level against the dollar in almost 3 years. As noted by the Briefing.com bond team late Friday, Bank of Japan Governor Fukui suggested that the Japanese central bank might allow the yen to strengthen freely (without Japanese central bank intervention), effectively suffocating the so-called "yen intervention trade" within the Treasury pits. Further strengthening in the Yen is exacerbating Japanese corporate profit concerns this morning. Reuters quotes head of accounting at Mitsubishi Electric as saying: "If the yen breaks 100, then we cannot avoid an impact on earnings," adding that each one yen rise by the yen against the dollar cuts the company's full-year revenue by three billion yen... The Yen is currently trading at 111.97, a 1.8% decline from Friday... Japan -4.24%, South Korea -4.46%, Taiwan -1.43%, Hong Kong -0.87%. 7:52AM McDATA upgraded at RBC (MCDTA) 10.90: RBC Capital upgrades to Outperform from Sector Perform, saying current trends suggest near-term guidance is conservative; while their concerns in recent months have focused largely on the pricing impact of Cisco's initial mkt entry and the potential for dilutive acquisitions, with closure on these issues and tangible near-term catalysts in play, firm feels a more aggressive stance is in order; raises target to $14 from $11. 7:48AM Phoenix Tech to license technology to RIMM (PTEC) 6.64: Co announces that Research In Motion (RIMM 33.71), the makers of the BlackBerry wireless platform, has licensed the right to adopt Phoenix Simple Password-authenticated Exponential Key Exchange for secure wireless authentication and key exchange in their wireless handheld devices worldwide. 7:37AM Motorola upgraded at Merrill Lynch, others (MOT) 11.13: -- Update -- A number of firms are upgrading MOT following CEO Christopher Galvin's resignation on Friday; for example, Merrill Lynch upgrades to Buy from Neutral, saying his departure reflects the Board's desire to unlock MOT's hidden value, and firm thinks that a new CEO could be more aggressive and put more emphasis on execution of growth and profitability plans, including the possible disposal of underperforming or non-synergistic assets. (See Upgrades/Downgrades for the other upgrades.) 7:32AM Broadcom downgraded at Wedbush Morgan (BRCM) 26.85: Wedbush Morgan downgrades to Hold from Buy based on valuation as well as problems with the start-ups the co acquired in 1999/2000, which could mean that corporate performance could be uneven and much weaker in 2H04 than estimated. finance.yahoo.com