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To: Donald Wennerstrom who wrote (44280)	5/4/2009 9:35:59 PM
From: Return to Sender	1 Recommendation Read Replies (1) \| Respond to of 95358

From Briefing.com: 4:35 pm : Stocks are now sporting a modest year-to-date gain after a strong session in which strength in foreign markets, better-than-expected economic data, and leadership from bank shares helped the S&P 500 ascend to its best level since January. Monday's gains were broad-based amid relatively high trading volume, which had showed signs of tapering off late last week. More than 1.7 billion shares traded hands on the NYSE this session. Buyers took early cues from overseas markets, where Asian stocks marched higher following word that several Asian finance ministers ordered an emergency liquidity fund of $120 billion to be pooled. News that China's second quarter GDP is expected to outpace that of the first quarter, and a better-than-expected April PMI report, provided additional support. European bourses fed off the good news, shrugging off news that the European Commission expects the European Union economy to shrink 4% this year, which is down from the 1.8% contraction that it had previously forecast, according to The Wall Street Journal. Germany's DAX gained 2.8% and France's CAC advanced 2.5%. Britain's FTSE was closed for holiday observance. The upbeat tone abroad helped support a positive sentiment heading into the U.S. open. Optimism was further bolstered by news that pending home sales for March advanced by a better-than-expected 3.2% month-over-month. Though the news feeds into the housing recovery argument, it threatens to stall a housing recovery since interest rates could respond by moving higher. Construction spending in March increased 0.3% month-over-month, exceeding the 1.6% decrease that was expected. In turn, the March report will likely be an incremental positive when contemplating first quarter GDP revisions. The better-than-expected data helped propel the major indices markedly higher in a broad-based advance, but financials garnered the most interest. Led by diversified bank stocks (+20.5%), the financial sector gained 10.1%. Despite what seemed to be a vote of confidence in banks, participants expect that several banks may need additional capital to satisfy the government's bank stress tests, which are scheduled to be released on May 7. In fact, an AP report said that regulators told Wells Fargo (WFC 24.25, +4.64) to shore up its balance sheet since the bank would have trouble surviving a deeper recession. Earlier in the morning, billionaire investor Warren Buffett indicated in a CNBC interview that Wells Fargo and US Bancorp (USB 20.34, +2.38) would be fine if macro conditions deteriorated further. US Bancorp was actually put on watch negative by Standard & Poor's, according to Dow Jones. Participants' determination to bid financial stocks higher supported buying in the broader market. All 10 major sectors in the S&P 500 finished with gains of at least 1.5%, helping the S&P 500 cross the 900 level for the first time in months. The positive tone in equity markets lent itself to the commodities trade, helping the CRB Commodity Index climb 1.5%. June crude oil contracts closed at $54.43 per barrel, up 2.3%. Gold futures shot above $900 per ounce to close 1.6% higher at $902.00 per ounce. Meanwhile, the U.S. dollar slid 0.7% against a basket of major foreign currencies.DJ30 +214.33 NASDAQ +44.36 NQ100 +2.2% R2K +4.1% SP400 +4.2% SP500 +29.72 NASDAQ Adv/Vol/Dec 2108/2.54 bln/630 NYSE Adv/Vol/Dec 2618/1.71 bln/455 4:00PM ASM Intl NV: Intel Capital invests in ASM International (ASMI) 12.42 +0.59 : Intel Capital, Intel Corporation's (INTC) global investment organization, today announced an investment in ASM International. Intel Capital's investment through open market stock purchases is 4% of ASMI's total common share capital, based on approximately 54 million common shares outstanding. 9:05AM Canadian Solar announces new 5 MW contract with Topinfrasolar (CSIQ) 6.86 : Co announces that it has signed a new sales agreement with Topinfrasolar, a Korean systems integrator, which will expand the relationship and supply agreement by an additional 5 MW. The contracted deliveries may include both regular and e-Modules and stipulates deliveries for Korean installations in 2009. Canadian Solar and Topinfrasolar have had a successful business relationship since the beginning of 2009 that has already resulted in the successful delivery to five projects of approx 3 MW in total. 8:31AM Emulex Board unanimously rejects unsolicited proposal from Broadcom (ELX) 10.37 : Co announces that its Board of Directors has completed its evaluation of the unsolicited, non-binding proposal received on April 21 from BRCM to acquire ELX for $9.25/share in cash and has unanimously determined that the BRCM proposal significantly undervalues ELX and is not in the best interest of ELX stockholders. In a letter to BRCM, the ELX Board of Directors stated that BRCM's unsolicited proposal is not in the best interests of ELX stockholders because it: 1) Significantly undervalues ELX's long-term prospects, particularly with respect to our opportunities in network convergence, which are more than doubling ELX's addressable market; 2) Is opportunistic given BRCM is aware of significant new unannounced design wins that ELX has secured with tier-one OEMs, at the expense of BRCM and other competitors, and their potential long-term value creation for ELX and its stockholders; and 3) Is clearly timed to take advantage of ELX's depressed stock price during the current unprecedented macroeconomic conditions. 7:02AM DSP Group beats by $0.13, beats on revs (DSPG) 6.40 : Reports Q1 (Mar) loss of $0.18 per share, excluding non-recurring items, $0.13 better than the First Call consensus of ($0.31); revenues fell 45.1% year/year to $39.9 mln vs the $39.4 mln consensus.

To: Donald Wennerstrom who wrote (44280)	5/5/2009 10:36:46 AM
From: FJB	1 Recommendation Read Replies (1) \| Respond to of 95358

Analyst: Signs point to recovery in ICs, not gear Dylan McGrath (05/05/2009 8:45 AM EDT) URL: eetimes.com SAN FRANCISCO—Many signs are pointing to a global recovery in the IC sector, but vendors of semiconductor manufacturing equipment are unlikely to experience an upswing before at least August, an analyst said Tuesday (May 5). Robert Castellano, an analyst with market research firm The Information Network (New Tripoli, Pa.) noted several positive developments for chipmakers, including the Semiconductor Industry Association's statement last week that demand has "stabilized somewhat." Castellano said Intel Corp. and Texas Instruments Inc. reported inventory has been worked off while Taiwan Semiconductor Manufacturing Co., the world's largest IC foundry, said last week forecast a rebound in second quarter sales and predicted that the second half of the year would be considerably better than the fist. Despite positive economic news that continues to come from China, Castellano predicted that the U.S., not China, would lead the semiconductor industry out of recession. Evidence comes from positive activity in The Information Network's leading indicators in the U.S. semiconductor industry, he said. "Both our long and short indicators turned up in late 2008, pointing to a business recovery cycle and giving visibility that the days of the recession are numbered," Castellano said in a statement. Castellano said The Information Network's "coincident" indicator—which includes statistics such as gross domestic product, jobs, sales and income in the U.S. economy—is still negative. But leading indicators suggest it will soon turn up, probably in the third quarter, he said. In the equipment segment, Castellano said The Information Network's global leading indicator has only just started turning up for many companies. This indicator historically correlates precisely with semiconductor equipment inflections five months out, he said. The firm does not anticipate an upturn in the equipment business until at least August. Castellano noted the positive economic news continues to come from China, including a report that China's purchasing managers' index hit 53.5 in April, its second month above the 50 level and fifth successive monthly rise. Castellano said Goldman Sachs recently upgraded China's GDP growth from 6 percent to 8.3 percent and Morgan Stanley from 5.5 percent to 7 percent following a successful implementation of the $586 billion stimulus plan and bank loan growth of $680 billion in the first quarter. But Castellano cited a report by BCA Research which said China's export sector remains the weakest link in the economy, though government-sponsored infrastructure construction is booming. "In other words, the U.S., the largest consumer purchasing body, has cut back on demand for China's products, particularly consumer electronic products," Castellano said. He added that the upsurge in China has done nothing for the IC industry, instead causing commodity prices such as oil and copper to rise. The Information Network is offering for sale through its website a new report titled, "The Global Market for Equipment and Materials for IC Manufacturing."