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

To: Jacob Snyder who wrote (47908)	5/20/2010 9:40:48 PM
From: Return to Sender	2 Recommendations Read Replies (1) \| Respond to of 95462

From Briefing.com: 4:30 pm : The stock market extended its downtrend with another high volume selloff in the face of the second straight rally by they euro. A negative tone permeated trade for the entire session, such that any attempts to trim losses were checked. In turn, the path of least resistance was downward. That left 99% of the S&P 500 to fall to a loss -- MasterCard (MA 205.50, +3.08) was one of the few names that made it out of the session unscathed. Such widespread weakness not only left the stock market to close below its 200-day moving average for the first time since July 2009, but it also resulted in the stock market's worst single-session slide in more than one year. The S&P 500 is now down more than 10% from both its 52-week intraday high of nearly 1220 and its 52-week closing high of 1217, both of which were logged in late April. That marks the stock market first official correction since its surge from its multiyear low in March 2009. Though this session's selloff was the worst in over a year, the S&P 500 is still six points above the lows that were set during the "flash crash" exactly two weeks ago. With uncertainty wreaking havoc on trade, the Volatility Index spiked nearly 30% to a new 52-week high. The action also brought in participants from the sidelines. In turn, trading volume on the NYSE surpassed 2 billion shares. Volume on the Big Board has averaged roughly 1.2 billion shares during the course of the past 50 days has averaged almost 1.3 billion shares per session. Part of the above-normal trading volume is owed to an increase in options activity ahead of tomorrow's options-expiration session. The stock market's high-volume, high-volatility dive this session came without regard for a rally by the euro. Relative to the dollar, the euro had started the session in the red after it recorded a 1.5% gain against the dollar during the prior session. However, the euro swung to a gain of more than 1% amid speculation about an intervention into the currency by the European Central Bank. The euro eased back a bit and was quoted with a 0.6% gain against the greenback after the close. Other headlines failed to have any positive influence over trade. News that a Wall Street Reform Bill will go to a floor vote was met with some frustration by market pundits and economic data generally disappointed as initial jobless claims for the week ended May 15 climbed 25,000 to 471,000, which was higher than many had expected. Continuing claims came in at 4.63 million to top what had been widely expected. Leading economic indicators for April showed a 0.1% decline when a 0.2% increase had been expected. Leading indicators for the prior month showed a 1.3% increase. The Philadelphia Fed Index for May came in at 21.4, which was up slightly from 20.7 in the prior month. Treasuries benefited considerably from this session's action. As such, the benchmark 10-year Note spiked more than one point to cut its yield to levels not seen since last November. Advancing Sectors: (None) Declining Sectors: Financials (-4.7%), Industrials (-4.6%), Energy (-4.4%), Materials (-4.4%), Consumer Discretionary (-3.8%), Tech (-3.6%), Health Care (-3.4%), Consumer Staples (-3.2%), Utilities (-3.2%), Telecom (-2.7%) DJ30 -376.36 NASDAQ -94.36 NQ100 -3.9% R2K -5.1% SP400 -4.3% SP500 -43.46 NASDAQ Adv/Vol/Dec 221/3.31 bln/2524 NYSE Adv/Vol/Dec 160/2.12 bln/2983 4:12PM Marvell beats by $0.01, beats on revs (MRVL) 17.97 -0.54 : Reports Q1 (Apr) earnings of $0.38 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.37; revenues rose 64.2% year/year to $856 mln vs the $845.3 mln consensus. 4:07PM Verigy beats by $0.08, beats on revs; guides JulQ above consensus (VRGY) 10.06 -0.49 : Reports Q2 (Apr) earnings of $0.05 per share, excluding non-recurring items, $0.08 better than the Thomson Reuters consensus of ($0.03); revenues rose 69.0% year/year to $120 mln vs the $114.5 mln consensus. Co issues upside guidance for Q3 (Jul), sees EPS of $0.12-0.17, excluding non-recurring items, vs. $0.06 Thomson Reuters consensus; sees Q3 revs of $140-150 mln vs. $129.3 mln Thomson Reuters consensus. 4:06PM Volterra Semi expands share repurchase program by $10 million (VLTR) 20.69 -0.97 : 4:05PM Dell beats by $0.03, beats on revs (DELL) 14.37 : Reports Q1 (Apr) earnings of $0.30 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.27; revenues rose 20.5% year/year to $14.87 bln vs the $14.27 bln consensus. Co said, "Overall, DELL expects a normal, seasonal sequential demand pick-up in the low single digits in its Q2. In addition, the company expects some components to remain in tight supply for the next couple quarters and some volatility in global currencies." 4:01PM Veeco Instruments: Epistar qualified Veeco's TurboDisc K465i GaN Metal Organic Chemical Vapor Deposition System for high volume LED production (VECO) 39.19 -1.94 : Cisco (CSCO) announced its intent to acquire privately held CoreOptics, a designer of digital signal processing solutions for high-speed optical networking applications, for approximately $99 million in cash and retention-based incentives... 8:03AM NII Holdings: Motorola announces IOS agreement with NIHD (NIHD) 36.13 : Co teams with the Networks business of Motorola (MOT) by selecting its Intelligent Optimization Service to enhance network efficiency for the Nextel iDEN networks in Argentina, Brazil and Mexico. These agreements between Motorola Argentina S.A. and Nextel Argentina; Motorola Industrial Ltda. and Nextel Brazil; and Motorola de Mexico, S.A. and Nextel Mexico cover service to > 7 mln users across the three countries. 8:02AM Chipmos Technology reports April rev grew 6.5% MoM and 46.9% YoY to $44.1 mln (IMOS) 1.86 : 7:31AM Qualcomm and CK Telecom sign WCDMA subscriber unit and modem card/module license agreement (QCOM) 36.45 -0.26 : Co announced that they have entered into a subscriber unit and modem card/module license agreement. Under the terms of the royalty bearing agreement, co has granted CK Telecom a worldwide patent license to develop, manufacture and sell WCDMA and TD-SCDMA subscriber units and modem cards/modules. The royalties payable by CK Telecom are at co's standard worldwide rates.

To: Jacob Snyder who wrote (47908)	5/21/2010 11:22:17 AM
From: Donald Wennerstrom	1 Recommendation Read Replies (1) \| Respond to of 95462

Glad you like the tables that are posted from time to time and find them useful. The charts that are posted by you and many others are very appreciated by me and give another way to look at what is happening overall and in the semi sectors we concentrate on. The tables and charts show that the past years starting in 07 went into a deep depression that started recovering late 08 and early 09. The SOX hit bottom in Nov 08(SPX in Mar 09) and Bookings/Billings Mar/Apr 09. Bookings and Billings are still on an uptrend, but the SOX has been in a "plateau" mode since the beginning of the year while earnings estimates have continued to increase week after week for the SOX stocks. Due to the long period of under investment during the depression phase, demand continues strong for semi equipment at the moment with many reasons sited for a continuation of the upward investment trend. That is a very condensed description of the recent action. Lately, the world economy everywhere has been of concern. This has been dragging down the major averages(and the SOX with it). I thought the Briefing.com synopsis of the present world and market situation was very good today so I am posting it below. <<More to the Story Last Update: 21-May-10 09:00 ET The stock market got caught Thursday in a maelstrom of uncertainty about the growth outlook and had the losses to show for it. The S&P 500 dropped 3.9%, leaving it more than 10% below its closing high on April 23. Accordingly, one will now hear talk that the U.S. market has experienced a "correction," which is the first 10%+ pullback since the recovery rally began in March 2009. Yesterday was the second straight session where the euro rallied (+0.8%) and the U.S. stock market acted as if it could care less. The indifferent response raised new questions about the catalyst behind the recent losses. In particular, it spoke to the idea that the U.S. market is worried about more than just Europe. Enter China, which is headed for a growth slowdown of its own and has a stock market in the Shanghai Composite that has fallen as much as 27% from the high it hit last August. The Shanghai Composite, therefore, has graduated from a correction to a bear market based on unofficial definitions that label the former as a 10% pullback from a high and the latter as a 20% pullback. As an aside, the Shanghai Composite rose 1.1% in Friday's trading. In effect, then, the U.S. market is being sandwiched by the looming slowdown in Europe and China as that is stirring concerns about the growth outlook for the U.S. economy. With the uncertainty about the outlook, participants are leaving little to chance at the moment and are simply deleveraging from risk trades and seeking the safety of cash, U.S. government bonds, and the German bund for the most part. In sum, a newfound premium has been placed on the capital preservation trade and understandably so. We are seeing it again this morning, with the S&P futures indicating a lower start and risk-free rates in the U.S. and Germany coming down again. After dropping 16 bps Thursday, the yield on the 10-year note has fallen another 8 bps this morning to 3.13%. The German bund, meanwhile, has seen its yield drop 5 bps to 2.63%. At the end of April, those benchmark yields were 3.66% and 3.01%, respectively. Strikingly, the S&P futures have been on the defensive for most of the morning despite news that the German parliament voted to approve Germany's portion of the nearly $1 trillion bailout plan. This is yet another indication that the U.S. market has more on its mind than just Europe. On that note, the U.S. Senate passed its version of the financial regulation bill. It will head to the House for reconciliation, yet the die has been cast and it is clear that tougher regulations that will crimp profit potential for the financial sector are on the way. There isn't any economic data this morning, so it will be a free-float day for the stock market, which should again see some heavy trading due in part to this being a monthly options expiration day. The current indication suggests the S&P 500 will begin the session with a decline of about 0.7%, which would take it through the "flash crash" low of 1065.79 on May 6. --Patrick J. O'Hare, Briefing.com>> briefing.com