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

To: KM who wrote (1968)	3/1/1999 1:46:00 PM
From: Steve Fancy	Respond to of 3813

From Form 424B5 for NOVELLUS SYSTEMS INC filed on 26 Feb 1999... We expect delivery of the shares of Common Stock to be made on or about March 2, 1999, against payment in immediately available funds. I still don't understand this stock offering. First of all, isn't it unusual to price the stock in advance, and second, how will this work? Does it sit there with a 3,860,000 sell order at 67.5? Thanks to anyone who can shed any light. sf

To: KM who wrote (1968)	3/1/1999 1:54:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 3813

FWIW... RESEARCH ALERT - Salomon cuts 4 semi equipment cos Reuters, Monday, March 01, 1999 at 10:58 NEW YORK, March 1 (Reuters) - Salomon Smith Barney said Monday it downgraded four companies in the semiconductor industry over concern about the implications of possibly slowing growth in the personal computer industry. -- Cut Asyst Technologies Inc. (NASDAQ:ASYT) to neutral from buy. -- Cut ATMI Inc. (NASDAQ:ATMI) and Silicon Valley Group Inc. (NASDAQ:SVGI) to neutral from outperform. -- Cut Credence Systems Corp. (NASDAQ:CMOS) to outperform from buy. -- Said maintained positive outlook on three top picks in the group: Applied Materials Inc. (NASDAQ:AMAT), KLA-Tencor Corp. (NASDAQ:KLAC) and Electro Scientific Industries Inc. (NASDAQ:ESIO). Copyright 1999, Reuters News Service