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

To: Donald Wennerstrom who wrote (15827)	6/18/2004 3:18:31 PM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95501

As we get into the last hour of trading, the semis, SMH, and SOX haven't been able to hold their earlier gains. This is a summary below of earlier comments in the day. <<MARKET: Oil & Gold Shares Up; Tech Shares See Pressure Ridgeland, MS, JUN 18, 2004 (EventX/Knobias.com via COMTEX) -- Equity futures are slightly negative, but have been trending higher in pre-market action. The first quarter current account deficit ($144.9B) was larger than expected, and the market responded with dollar selling and gold buying. Crude oil and treasuries are modestly higher. Energy (BP) and precious metals (NEM) shares are poised to ride their underlying commodity prices to a higher open. Upgrades are lifting the shares of SLR, GILD & GPRO this morning. CECO is down on class action fear, and United is lower after failing to win a federal loan guarantee. Semis are generally lower despite a 1.11 book to bill ratio. Software is mixed with ADBE, RHAT & TIBX down and SABA & TKO indicated higher. [snip] Semiconductors: May Book to Bill Ratio 1.11 versus 1.13 in April. Stanley T. Myers, president and CEO of SEMI, said, "Sales in the first five months of 2004 are more than 50 percent higher than those in the first five months of 2003." --- The three-month average of worldwide bookings is nominally even with the revised April 2004 level of $1.58 billion and 118% above the $724 million in orders posted in May 2003. (+) Merrill Lynch maintained their positive stance on the Semiconductor Equipment group after the preliminary May semiconductor capital equipment book-to-bill ratio came in at 1.11, down from a revised 1.13 in April. The firm believes the stocks have already priced in slower order growth for mid-summer but do not reflect order acceleration they expect to see in 2H04. (-) California Micro Devices (Nasdaq: CAMD) reaffirmed its financial outlook for the first quarter of fiscal 2005, which ends on June 30, 2004. Revenue is expected to be between $16.4 and $16.7 million, Inline with consensus estimates of 16.52 million.>> [snip]