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

To: cluka who wrote (44958)	8/6/2009 10:37:04 PM
From: Return to Sender	1 Recommendation Respond to of 95567

From Briefing.com: 4:30 pm : For the second straight session stocks saw a relatively solid start turn into a loss, but this time the financial sector joined the broader market in negative territory. The major indices opened higher following a smaller-than-expected weekly initial jobless claims tally of 550,000. Though continuing claims were more-than-expected at 6.31 million, up from the previous week, the overall reaction to the data was moderately positive. With jobless claims still at uncomfortable levels, participants await the government's nonfarm payrolls report for July in order to get an updated read on the employment picture. The report is due tomorrow morning before the opening bell. There was some chatter that recent payrolls numbers could show a major, negative revision, but the CNBC reported that official statistic sources said revisions that may occur will be reported in February. Financials finished 0.7% lower after logging gains in each of the five previous sessions. Multiline insurers (+1.3%) provided a supportive boon for the sector, but general weakness in the rest of the sector caused it to underperform. The sector had actually been up more than 1% in the early going. Industrials made up the only sector to hold its initial gains into the close. It finished 0.6% higher. Utilities comprised the only other sector to log a gain; it garnered support into the close to finish with a 0.2% gain. Tech lagged for the entire session as Cisco Systems (CSCO 22.31, +0.14) underperformed during morning trade. However, the company was able to recover in afternoon trading and close with a gain. The company posted last evening better-than-expected quarterly earnings, but issued an uninspiring revenue forecast during its conference call. Other earnings announcements were generally met with little reaction. July same-store sales results for retailers were largely unimpressive, as well, but upside guidance from Gap (GPS 18.14, +1.37), Kohl's (KSS 51.02, +1.51), and Macy's (M 15.01, +0.79) helped push the group up 1.1%. That essentially erased the group's losses during the past two sessions. Despite two consecutive losses, the broader market is still up 1% week-to-date. Should the gains hold through Friday's action, the stock market will have logged four consecutive weekly advances.DJ30 -24.71 NASDAQ -19.89 NQ100 -0.9% R2K -1.5% SP400 -0.8% SP500 -5.64 NASDAQ Adv/Vol/Dec 816/2.43 bln/1812 NYSE Adv/Vol/Dec 1147/1.38 bln/1878 8:35AM Diodes beats by $0.07, beats on revs; guides Q3 revs above consensus (DIOD) 19.36 : Reports Q2 (Jun) earnings of $0.06 per share, excluding non-recurring items, $0.07 better than the First Call consensus of ($0.01); revenues fell 10.4% year/year to $103.9 mln vs the $98.6 mln consensus. Co issues upside guidance for Q3, sees Q3 revs +10-15% sequentially or roughly $114.3-119.5 mln vs. $104.50 mln consensus. Integrated Device Technology (IDTI) and Taiwan Semiconductor Manufacturing Company (TSM) announce that they have entered into an agreement to transfer product fabrication processes and related activities currently running in the IDT Hillsboro, Oregon facility to TSMC foundries. The transfer, which has already received approval by both companies and the IDT Board of Directors, is expected to take up to two years to complete and will cover the lifecycle of all products involved... 7:38AM Kulicke & Soffa prices 7 mln share common stock offering at $5.00 per share (KLIC) 5.68 : 12:52AM Pericom Semi announces it will delay 4Q09 results; announces accounting review (PSEM) 9.49 : Co announces that it will delay its 4Q09 and full year earnings release and investor conference, which typically occurs in early August of each year. Pericom is undertaking a review of accounting matters relating to the first three fiscal quarters of FY09. Pericom cannot state at this time when the full review will be completed or when fiscal 2009 results will be announced, and intends to provide appropriate updates on these matters as soon as practicable. To date, Pericom has identified two errors in the course of this review, but continues to examine other accounting issues that may or may not require further accounting adjustments. These two errors are: -- For 1Q09, Pericom did not record a decline in value of $414,000 on its income statement relating to an obligation owed by Lehman Brothers Holdings after Lehman filed for bankruptcy on September 15, 2008. Pericom's internal accounting review failed to conclude that this impairment was other-than-temporary and to include this impairment in the income statement for 2009 Q1. For 2Q09, in connection with the conversion of Pericom's enterprise resource planning software, there was an inadvertent misclassification of cost data. This misclassification led to an understatement of cost of goods sold by $772,000. This error was not quantified or identified until balance sheet reconciliations with subledgers became available and were completed after 3Q09 results were reported. 08:31 am Cisco Systems (CSCO) Cisco Systems (CSCO 22.17) reported sharply lower earnings and revenue for its fourth quarter, but managed to top Wall Street estimates and said that it is seeing "positive signs" in the economy. Cisco reported fiscal fourth quarter earnings of $0.31 per share, $0.02 better than the First Call consensus of $0.29. Non-GAAP net income of $1.8 billion was down 23.2% from the same quarter last year. Revenues fell 17.6% year-over-year to $8.54 billion; the consensus expected $8.52 billion. "We saw a number of positive signs this quarter in the economy and in our business, especially comparing our sequential quarter-over-quarter order trends," said CEO John Chambers. "If we continue to see these positive order trends for the next one to two quarters, we believe there is a good chance we will look back and see that the tipping point occurred in our business in Q4." Cisco provided revenue guidance on its earnings conference call, saying it sees revenues down 15% to 17% in its fiscal first quarter, which equates to $8.57 billion to $8.78 billion; the consensus expects $8.59 billion. Shares of CSCO are 36% higher