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Technology Stocks : Cymer (CYMI) NEWS ONLY! -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Aloha who wrote (90)	10/24/1997 8:50:00 PM
From: IRA ZOHN	Respond to of 582

To: +Mr. Aloha (6393 ) From: +IRA ZOHN Friday, Oct 24 1997 8:49PM EST Reply #6394 of 6394 October 24, 1997/FOOLWIRE/ -- Skittish investors encouraged by institutional downgrades chose to dump the stock of excimer laser company CYMER INC. (Nasdaq: CYMI) at the end of last month on fears that a massive production ramp-up (to accommodate an industry-wide shift to 0.25-micron chips) was creating problems for its semiconductor equipment company customers. Rumors began to circulate that Cymer's major customers were suffering technical problems related to its lasers after the company pulled out of an appearance at a Needham & Co. semiconductor equipment conference. Senior vice president and chief financial officer William Angus proclaimed darkly at the time that the company had to make "some adjustments in [its] operating plans for the remainder of [its] quarter," adding that the development "created more risk." Of course, anything with even a remote possibility of affecting near-term performance sends investors scrambling for the exits, as evidenced by Cymer's 18% drop on the day of the announcement. Analysts often adopt roles akin to economists -- a few cited the development at Cymer as a leading indicator for an eventual decline. For example, the Montgomery Securities downgrade to "hold" from "buy" came about as a result of analyst Brett Hodess expressing concerns that "technical problems at (customers) Nikon and Canon could cause further push backs in laser orders." Now, this is an altogether rationale conclusion, but it also reflects the constant information driven balancing act that is a Wall Street imperative. Cymer, however, came up with a response last night, reporting third-quarter revenue of almost $57.5 million, roughly three times the company's sales of $18.2 million in the same period last year. Net income per share came in at $0.23, topping estimates for $0.21. William Angus was quoted as saying, "Yeah, we had a pushout, and we had increased operating risks. But the results speak for themselves." Cymer also issued a rare short-term forecast: "Based on our Sept. 30, 1997 backlog and significant orders received since the close of the third quarter, and on customer forecasts, we currently expect continued sequential revenue growth for at least the next two quarters." Cymer shot up $3 3/32 to $29 1/2 at the open on the news, heartening investors that bought after last month's sell off who were optimistic about Cymer's virtual monopolistic market share for excimer lasers. However, things immediately took a turn for the worst as Cymer was dragged down by UBS Securities. Analyst Mark FitzGerald downgraded five semiconductor capital equipment stocks because of concern "about the impact on business from the Asian currency crisis." Cymer wasn't on the hit list, but its record results were dampened by the news, presenting another opportunity for investors to examine the reality of Cymer's business position. -- By Alex Schay FYI Ira

To: Mr. Aloha who wrote (90)	10/25/1997 9:29:00 AM
From: GREATMOOD	Read Replies (1) \| Respond to of 582

To all re: Fed Filing from Cymer (8-A12G/A) freeedgar.com GM

To: Mr. Aloha who wrote (90)	10/25/1997 8:24:00 PM
From: stan b	Read Replies (1) \| Respond to of 582

Advanced Micro Devices of Sunnyvale, Calif., is setting up its first offshore wafer fab in the former East Germany city of Dresden, with about $550 million in government incentives for a total of $1.9 billion in investments over a 10-year period. The plant will begin producing AMD's K7 microprocessors with quarter-micron technology and 8-inch wafers. By the end of 1999, the fab will move to 0.18-micron technology to produce microprocessors for world markets. This is an exact copy from a much larger article found at techweb site. techweb.com