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To: Joseph Beltran who wrote (19191)	8/31/1998 1:19:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 25960

from Briefing.com: Lehman Likes Chips: Firm says DRAM prices stabilizing and microprocessor trends looking better; feels that industry bottoming and that Q4 will be significantly better; if equity market stabilizes and U.S. economy stays on course, believes chip stocks are priced for major rebound.

To: Joseph Beltran who wrote (19191)	8/31/1998 1:32:00 PM
From: Ian@SI	Respond to of 25960

Joe, I said Nikon, not ASMLF. Here's the story: Sunday August 30, 9:07 pm Eastern Time Nikon says sees parent current loss in 1998/99 TOKYO, Aug 31 (Reuters) - Nikon Corp said on Monday it expected to post a parent current loss in the year to March 1999, due to poor demand for semiconductor manufacturing equipment. ''We have no specific figure yet but we expect to post a parent current loss in 1998/99 because of poor sales of steppers (machines for making semiconductors),'' a Nikon spokesman said. It will be the first time in six years that Nikon has posted a parent current loss. The present slump in the semiconductor market is very severe, the spokesman said. The company's sales of steppers in 1998/99 are likely to fall by more than 30 percent from a year earlier to 300 units, he said. In May, Nikon, a major maker of cameras and chip manufacturing equipment, forecast a parent current profit of two billion yen for 1998/99 against an actual 8.36 billion yen a year earlier. Nikon is likely to announce a revision to its 1998/99 business forecast in late September, the spokesman said. It could not say at this moment whether it would post a group loss, he said. In June, Nikon forecast a group net profit of one billion yen for 1998/99 against an actual 8.32 billion yen a year earlier. Frequently the market will nail related companies upon getting what they perceive to be new news for that sector. I am guessing that is what has happened to ASMLF. Possibly the last straw for some fund manager who has found out that ASMLF doesn't have sufficient liquidity to allow a large position to be dumped in a short period of time but still wants to beat everyone else out of the stock. FWIW, Ian.