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

To: Donald Wennerstrom who wrote (42841)	1/20/2009 8:58:47 PM
From: Gottfried	Respond to of 95530

WFR: UBS downgraded it to neutral today finance.yahoo.com

To: Donald Wennerstrom who wrote (42841)	1/20/2009 9:21:32 PM
From: Donald Wennerstrom	1 Recommendation Read Replies (1) \| Respond to of 95530

KLA-Tencor: Fitch revises outlook on KLA-Tencor to negative 6:58 PM ET 1/20/09 Co announed that Fitch Ratings has revised the Rating Outlook on KLAC to Negative from Stable and affirmed the following ratings: Issuer Default Rating (IDR) at 'BBB'; Senior Unsecured Debt at 'BBB'. The revised Outlook reflects Fitch's expectations that KLAC's revenues will be meaningfully lower than previously anticipated and potentially result in negative free cash flow for the fiscal year 2009 ending June 30, 2009. Consistent with Fitch's expectations for semiconductor equipment industry revenues declining by at least 20% in calendar year 2009, Fitch had anticipated weaker revenues for KLAC over the near-term. Nonetheless, KLAC recently lowered its new orders and revenue guidance for its second fiscal quarter ended Dec. 31, 2008. The co now expects new orders were $235-245 mln, 25% lower than the original expectations of $325 mln. KLAC expects revenues were ~$390-400 mln (6% lower than the ~$420 mln initially projected) and that the co will post an operating loss even after adjusting for an anticipated write-down of goodwill and intangible assets.