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Technology Stocks : Electro Scientific??? -- Ignore unavailable to you. Want to Upgrade?

To: Mark Oliver who wrote (298)	12/11/1997 10:44:00 AM
From: vinh pham	Read Replies (1) \| Respond to of 723

Merrill Cuts 9 Semi Equipment Cos. NEW YORK (Dow Jones)--Merrill Lynch & Co. analyst Robert Stern lowered his intermediate-term rating on the following semiconductor equipment stocks to neutral from accumulate, a contact at the firm said: Novellus Systems Inc. (NVLS), Kulicke & Soffa Industries Inc. (KLIC), Applied Materials Inc. (AMAT), Electro Scientific Industries Inc. (ESIO), Silicon Valley Group Inc. (SVGI), and Veco Instruments Inc. (VECO). Stern lowered his long-term rating on Kulicke, Electro Scientific, Silicon Valley and Veeco to accumulate from buy, while maintaining his long-term buy on Novellus and Applied Materials. The analyst reduced his intermediate-term rating on Credence Systems Corp. (CMOS) to neutral from buy and his long-term rating to accumulate from buy. Stern also lowered his long-term rating on Lam Research Corp. (LRCX) and Ultratech Stepper Inc. (UTEK) to accumulate from buy, while keeping his intermediate-term neutral rating. Further details weren't immediately available. Earlier, Kulicke said its first-quarter financial results will be hurt by Korea's financial troubles.