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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Gemini who wrote (21132)	2/17/1999 8:31:00 PM
From: Kip518	Respond to of 25960

February 17, 1999 Cymer Up 8%; Applied Materials' Upbeat 1Q Results Cited Dow Jones Newswires By Tom Locke DENVER (Dow Jones)--Cymer Inc. (CYMI) shares rose 9.6% Wednesday, and one analyst said the upswing may have been a reaction to a strong fiscal first-quarter report by Applied Materials Inc. (AMAT) late Tuesday. Cymer and Applied Materials have "virtually nothing" to do with one another, but investors may have assumed they do, said Donaldson Lufkin & Jenrette analyst Robert Maire. Both companies supply equipment to the semiconductor industry, but they are not competitors, said Leslie Cole, senior corporate communications manager for Cymer. Cymer is a San Diego supplier of lasers used to image circuit patterns on computer chips. Applied Materials is a Santa Clara, Calif., supplier of wafer fabrication systems and services. Applied Materials' net profit, revenue and bookings grew sequentially in its first fiscal quarter ended Jan. 31, compared with its fiscal fourth quarter,possibly signaling a rebound in the semiconductor and semiconductor equipment industries. But in Cymer's Feb. 1 report for the fourth quarter ending Dec. 31, the company said it remained cautious about the timing of the industry's recovery. Compared to the third quarter, Cymer's fourth-quarter total units shipped dropped 26%. And its fourth-quarter revenue dropped 15% on a sequential basis, to $38 million. But Cymer is projecting a "modest increase" in revenue on a sequential basis for the first quarter of 1999. Maire said he had eaten lunch Wednesday with Cymer Chief Executive Robert Akins and Cymer Chief Financial Officer William Angus, and they could not provide a reason why Cymer's stock was rising Wednesday. "Basically, there is nothing going on (with the company)," Maire said. Maire and Cymer executives were attending the SEMInvest conference in New York held by trade association Semiconductor Equipment and Materials International. Maire noted that Cymer's stock had risen before Cymer made its presentation at the conference, so he thought Wednesday's stock rise was unrelated to SEMInvest. Cole said Cymer does not comment on its stock price. Applied Materials shares rose as much as 5.5% Wednesday before closing down 0.7%, at 67 3/8. Cymer shares rose as much as 17.3% Wednesday before closing up 2 5/16, or 9.6%, at 26 1/2, on volume of 1,116,600, compared with average daily volume of 621,629.