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

To: ELH1006 who wrote (13006)	1/12/2004 12:06:22 PM
From: Return to Sender	Read Replies (1) \| Respond to of 95735

From Briefing.com: 11:55AM Semi Index -- SOX -- nearing last wk's high at 551.77: 10:45AM Notable Mentions : Farmhouse Equity initiated Kana Software (KANA) with a Strong Buy and $10 target; firm says KANA seems to be a forgotten stock in the software sector, but believes this is not likely to last due to its solid balance sheet, very solid customer base (includes 55 of the top 100 global co's), good products, and a very favorable valuation at 1.2x their 2004 EV/sales est... American Technology Research is positive on the Semiconductors, as they think that industry and Street ests based on 20% worldwide chip revenue growth in 2004 are going to be short of the mark (firm thinks 40% is more likely); recent checks indicate lean inventories, good sell-through, extended lead times, and increased visibility for chip makers; firm raises ests on ADI, IRF, LLTC, MXIM, NSM, and TXN. 10:10AM McDonald downgrades JBL, upgrades select EMS stocks : McDonald downgrades Jabil Circuit (JBL 29.94 -0.10) to Hold from Buy, saying the co has less operating leverage than most peers given its more horizontally-integrated nature and minimal restructuring experienced in the downturn. Firm also upgrades CLS to Aggressive Buy from Hold, upgrades KEM, SANM, and SLR to Buy from Hold, and upgrades PWER to Hold from Underweight, as they are beginning to see evidence that "Phase Two" of the recovery (led by high-end/enterprise spending) is starting. 9:39AM KVHI: Weakness seen as buying opportunity 19.25 +0.34: C.E. Unterberg comments that KVH Industries is off nearly 50% from its $35 high in late Nov over concerns regarding the A5 roll-out, two consecutive quarters of delays in military orders and competitive announcements for satellite video in autos. Firm believes this has been way overdone and recommends purchase of the shares. At a recent expo, firm says video in cars is big, a necessary pre-condition for the A5 antenna. Also, co will begin advertising soon in publications, like The Robb Report and Cigar Aficionado, which target the high-end consumer. Firm has a target of $25-$30. 9:32AM Netopia target raised to $22 at Brean Murray (NTPA) 17.08 -0.19: Brean Murray raises their FY04-05 EPS ests for Netopia (NTPA) slightly above consensus and raises their target to $22 from $17; firm believes that: 1) DSL providers (NTPA's core customers) will continue to make mkt share gains, 2) the co should soon begin delivering its products to another major incumbent European operator, and 3) the transition by most DSL operators to WiFi could begin to occur in earnest as early as 2H04, which is earlier than anticipated. 9:21AM JNPR upgraded to Overweight at Pacific Growth 22.00: Pacific Growth upgrades Juniper from Equal Weight and raises estimates to reflect strength in the DecQ and the co's robust fundamentals. Firm believes the DecQ benefited from increased spending by ISPs on broadband; enterprise market also picked up. Backlog for Q1 is compelling and co is positioned to gain market share over 2004. At 67x FY05 EPS valuation is rich but warranted. 9:20AM Juniper Networks and Siemens to provide SingTel with routing solutions (JNPR) 22.00: --Update-- Co and Siemens Information and Communication Networks (ICN) Singapore today announced that they will provide Singapore Telecommunications Limited (SingTel) with advanced routing solutions to expand one of Asia's largest consumer broadband networks. 8:42AM Gold Oil and Dollar Summary : The Dollar sank to another record low (1.2899) against the Euro (1.2827) in early trade, but recent concerns about the Euro's rapid advance expressed by ECB's President Trichet has given some strength back to the Dollar. Analysts believe the statement may slow the Dollar's downward momentum, but not stop it...Safe-haven Gold rises against a weak dollar to 426.65. The commodity remains in an uptrend as it hovers below last week's 15-year high of 431.50. Shares of Silver deserve a look as its price appears to be holding up well after breaking out above $6 last week...Crude Oil is trading a little lower in London this morning after notching a multi-month high on Friday on forecasts for colder temperatures in the US (the world's biggest consumer of oil). Some profit-taking is expected from its recent run-up. 8:33AM JMAR Tech receives $3.5 mln in financing from Laurus Master Fund (JMAR) 4.08 :12AM IBM and Intel contributing to Linux fund (IBM) 91.21: The Wall Street Journal reports INTC and IBM are contributing to a new fund to defend Linux users against copyright-infringement lawsuits threatened by SCOX. The fund is being established by the Open Source Development Labs, a nonprofit industry consortium based in Beaverton, Oregon. 8:08AM Notable Mentions : Broadcom (BRCM): CIBC reiterates its Sector Outperform rating ahead of Q4 report and says it is growing more optimistic with regards to 1Q04. Though consensus estimates are for flat revenues in 1Q, firm believes BRCM could buck seasonal trends and post growth of 5% or more... Newmont Mining (NEM) tgt raised to $60 from $52 at CIBC based on higher copper price forecasts, higher earnings estimates and production being accelerated... Seagate (STX): Thomas Weisel continues to believe co is well positioned to benefit from any increase indemand in 2004. While firm continues to believe stock trades at reasonable valuation, firm does not expect upside to its DecQ estimate, which is in-line with consensus... Network Assoc (NET): SoundView believes NET results/guidance will be a slight positive catalyst for the shares. While the shares are up from depressed levels, firm believes the stock has room to move higher over the course of 2004 as execution improves. finance.yahoo.com The SOX is above last week's high supported by a rise in the put to call ratio today, among other things, imho. RtS