Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Return to Sender who wrote (43791)	3/19/2009 8:37:17 PM
From: Return to Sender	2 Recommendations Read Replies (1) \| Respond to of 95546

From Briefing.com: 4:30 pm : Commodities and commodity-related stocks logged solid gains this session. However, profit takers had their way with financial stocks, which undercut the broader market for virtually the entire session and brought about choppy trading. Energy stocks (+1.4%) and materials stocks (+1.4%) were helped by stronger commodity prices. The CRB Commodity Index climbed more than 5% in this year's largest single-session advance by percent. Crude oil futures prices gained 6.5% to close pit trading at $51.25 per barrel, while gold prices advanced 7.8% to close at $958.50 per ounce. Underpinning the strength in commodity prices was a considerably weaker U.S. dollar. According to the Dollar Index, the greenback sank 1.7% this session, and more than 4% during the last two sessions. The dollar's weakness follows the Fed's latest policy directive. Several steel stocks (+7.0%) benefited from stronger underlying commodity prices and reports that the Treasury will launch a $5 billion program for car parts suppliers. Shares of autoparts companies spiked on the news, but the enthusiasm dwindled as the session progressed. Autoparts and equipment companies still closed 8.6% higher. Profit takers focused their efforts on financial stocks (-8.0%), which were looking overbought after surging 60% in less than two weeks. That rally carried the broader market to key resistance levels. The S&P 500 has been unable to crack 800, which is near the 50-day simple moving average for the stock market, and a sort of psychological line in the sand. Corporate announcements were relatively mixed heading into trading this session. Citigroup (C 2.60, -0.48) has filed to exchange common stock for convertible and nonconvertible preferred securities, and plans to authorize a reverse common stock split. General Electric (GE 10.13, -0.19) continues working to restore its credibility with investors. The company held an investor meeting today, during which the company explored its asset holdings and reaffirmed it expects its troubled capital arm to post a profit for the first quarter and full year. Oracle (ORCL 17.37, +1.54) posted better-than-expected adjusted earnings, issued upside guidance, and declared its first dividend, winning support for large-cap tech stocks. Economic news remains uninspiring. Weekly initial claims dipped 12,000 to 646,000, which was better than the consensus estimate of 655,000. Continuing claims hit another record high, though, jumping to 5.47 million from 5.29 million. Leading indicators for February showed a 0.4% decline, which wasn't as bad as the 0.6% decline that was expected. The report had little impact on trading. Tomorrow's calendar is relatively light on data. There are neither economic reports nor market-moving earnings announcements scheduled for release, though Fed Reserve Chairman Bernanke is giving a speech about the financial crisis and community banking (12:00 PM ET). Absent any surprise announcements, the near-term focus will continue to be the technical picture, with some not-too surprising profit-taking occurring at the key 800 resistance level in the S&P 500.DJ30 -85.78 NASDAQ -7.74 NQ100 -0.2% R2K -1.1% SP400 -0.6% SP500 -10.31 NASDAQ Adv/Vol/Dec 1198/2.15 bln/1456 NYSE Adv/Vol/Dec 1525/1.95 bln/1557 4:01PM National Semi acquires Act Solar, a privately held solar energy company; terms not disclosed (NSM) 10.86 +0.30 : 8:46AM Corning believes it will have positive net income in the first quarter (GLW) 12.50 : Co says that based on the improved volume expectations for its display business, the company now believes it will have positive net income, excluding special items, in the first quarter. The company still expects significant glass price declines for the first quarter in its wholly owned business as compared to previous quarters. Management will state that it has not reached agreements for pricing in the second quarter, but expects price declines to be more moderate than the first quarter. Market pressures could still affect these expectations. The co also stated that reported utilization rates at the panel makers continue to improve. In Taiwan, average utilization rates show an increase from approximately 20% in December to more than 40% in February. In Korea, average utilization rates show an increase from under 50% in December to almost 80% in February. The company expects panel maker utilization rates to increase again in March. 8:02AM Cisco Systems announces intent to acquire Pure Digital Technologies for $590 mln (CSCO) 16.50 : Co announces its intent to acquire privately held Pure Digital Technologies. Pure Digital is developing consumer-friendly video solutions with mass-market appeal. Under the terms of the agreement, CSCO will pay approximately $590 mln in stock in exchange for all shares of Pure Digital. In addition, CSCO will provide up to $15 mln in retention-based equity incentives for continuing employees. The acquisition is subject to various standard closing conditions and is expected to close in the fourth quarter of CSCO's fiscal year 2009.