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» Kirk - Chip Stocks Gain on TSMC news
http://dailynews.yahoo.com/h/nm/20011126...Monday November 26 4:15 PM ET
Chip Stocks Gain on TSMC, Intel
By Duncan Martell
SAN FRANCISCO (Reuters) - Semiconductor stocks rose on Monday after Taiwan Semiconductor Manufacturing Co. (2330.TW), the world's biggest contract chipmaker, raised its 2001 financial forecasts and Intel Corp. (Nasdaq:INTC - news) announced new technology that helps to extend Moore's Law into the next decade.
Taiwan Semiconductor Manufacturing Co. (TSMC) increased its 2001 pretax profit forecast by 55 percent to T$9.35 billion from an earlier projection of T$6.04 billion, citing a ''substantial increase of customer orders.'' The raised forecast comes two months after TSMC trimmed estimates amid the worst-ever downturn in the chip industry.
Intel helped boost chip stocks when it said it had devised a new structure for transistors -- the tiny switches that make up semiconductors -- that could lead to microprocessors that run at blazing speeds and consume less power than conventional ones.
``There's some legitimacy to the positive sentiment, with incremental news out of Intel and TSMC,'' said Needham & Co. semiconductor analyst Dan Scovel. ``Those are nice little things from a macro perspective.''
The Philadelphia Semiconductor Index (^SOXX - news), a proxy for the sector, rose 21.16, or 4.1 percent to 532.46, its third straight day of gains after five losing sessions in a row. The index on Monday also broke through a resistance level of about 490. The index has plunged from a record high of 1,362.10 on March 14, 2000, shortly before the industry entered the current downturn.
``We're trying to establish a healthy platform'' at these levels, Scovel said.
Shares of Intel, the world's biggest chipmaker, rose 81 cents to $31.78 and was the second most actively traded stock on the Nasdaq, after Cisco Systems Inc.
ESS TECHNOLOGY GIVES BOOST
Chip stocks also got a boost from ESS Technology Inc. (Nasdaq:ESST - news), which makes microchips that power DVD players. The Fremont, California-based company raised its fourth-quarter earnings forecast on Monday, buoyed by increasing market share and better-than-expected sales of DVD players.
The company's stock price surged $3.69, or 22.9 percent, to $19.79 on Nasdaq. The shares have more than tripled this year as sales of DVDs and players are breaking records as the new technology's popularity approaches that of videotapes.
Shares of ESS Technology competitor Zoran Corp. (Nasdaq:ZRAN - news) rose in sympathy, gaining $1.87, or 5.7 percent, to $34.43. Zoran said in October that it expects a seasonally strong fourth quarter with revenue growth of 10 percent to 15 percent from the $30 million it had in the third quarter.
Semiconductor imaging device maker Omnivision Technologies Inc. (Nasdaq:OVTI - news) soared $2.02, or 55 percent, to $5.68, after Prudential Securities analyst Tristan Gerra raised his rating on the stock to ``buy'' from ``hold,'' citing a bright outlook in wireless handsets and security applications.
Chip equipment stocks also gained.
Applied Materials Inc. (Nasdaq:AMAT - news), the biggest maker of chip-manufacturing equipment, rose $1.30 to $40.06, KLA-Tencor Corp. (Nasdaq:KLAC - news) added $2.42 to $50.05, Novellus Systems Inc. (Nasdaq:NVLS - news) rose $2.24 to $39.18 and Lam Research Corp. (Nasdaq:LRCX - news) rose $1.35 to $22.51.
-- posted by Kirk
» DellaO - Re: Enron in the SP500
In response to message posted by Happy:CNBC just interviewed an older gentleman who was about 6 months from retiring from Enron. He had all of his $600K retirement in Enron stock.
This is a tragic situation for the all of the Enron employees who made the mistake of investing all of their money in company stock.
-- posted by DellaO
» Kirk - Dell reaffirms 4Q guidance
Dell reaffirms 4Q guidancehttp://money.cnn.com/2001/11/28/technolo...
November 28, 2001: 4:38 p.m. ET
The No. 1 PC maker's CEO says market should recover next year.
Scottsdale, Ariz. (Reuters) - Dell Computer Corp. Chief Executive Michael Dell Wednesday reaffirmed forecasts that fourth-quarter earnings will be unchanged from the third quarter while sales will be slightly higher.
But Dell (DELL: down $0.49 to $25.99, Research, Estimates), which has performed better than many PC makers during the current downturn, offered some signs that business could improve next year and cited a "significant pent-up demand" for both desktop and notebook computers worldwide.
Dell, who spoke at the Credit Suisse First Boston Technology Conference here, said the question remained when individuals and corporations would begin to replace their older computers.
Like many of the companies that have presented at the conference, Dell said that recovery was expected some time in 2002, but gave no specific time frame.
"We don't know when these replacements will occur but you can't push them out forever," said Dell. During the presentation, he also said the company expects to report fourth-quarter earnings of 16 cents per share, and to show revenue slightly above the third quarter's $7.5 billion.
Still, Dell's comments were more upbeat than many of the companies making presentations at the conference and the Dell keynote was better attended than most. Dell said that an estimated 30 percent of all desktop computers worldwide and 25 percent of notebooks were now at least three years old, which would eventually create demand for newer machines.
And while he said such a trend could benefit the industry across the board, he suggested that Dell Computer was poised to benefit more than most. The company has operated through this year's economic slump by slashing prices to pick up market share and said it has gained market share at the fastest pace in its history.
Still, Dell said there were a number of uncertainties in the market. While he said consumers were showing strong buying patterns as the holiday shopping season got underway, he stressed that purchases were always strong ahead of Christmas and discouraged suggestions that the uptick this year was anything out of the ordinary.
Dell also said that even when the industry does recover, PC makers might continue to suffer from a lengthening in replacement time if consumers saw less and less need to upgrade.
"I think it's possible there will be a lengthening in the replacement cycle. I wouldn't say there would be a huge lengthening however," he said.
-- posted by Kirk
» lcha - Re: Re: Enron in the SP500
In response to message posted by DellaO:This is a tragic situation for the all of the Enron employees who made the mistake of investing all of their money in company stock.
Mistake is the operative word here. Most of these people had ample opportunity over the past year to diversify some of their portfolio out of Enron stock, well before the 401(K) freeze. That is just basic investing 101. Here you had people with portfolios with $400,000 to $2,000,000 of mostly Enron stock! Get a financial planner for Gods sake!
-- posted by lcha
» Happy - Re: Re: Re: Enron in the SP500
In response to message posted by lcha:In one report, it was said Enron employees, who bought Enron stock, with the company putting up matching funds, were not allowed to sell the shares. I don't know if this is accurate or not. I could see the temptation to buy company shares if the company is paying half the price. Especially, when you worked for one of the largest companies in the world.
-- posted by Happy
» Kirk - Re: Re: Re: Re: Enron in the SP500
In response to message posted by Happy:Perhaps they had the sort of deal I had when I was at HP?
Back in the 1990's, you would buy two shares of stock with 5% of salary and the company would give you a third share in a "ghost account" that would convert to a real share if you held your two shares for two years. It was a nice kicker on return!
"Smart People" (ahem at least I did this) would wait the two years then sell the matching shares every quarter in the ghost account as they converted to real shares to diversify so you don't add any net shares in that account. The HARD part was selling greatly appreciated shares held for two years where your tax hit would be huge... I would do it but I preach asset allocation. I know many at HP/Agilent that were near retiremend and had 85% of assets in the company stock. I am told this is not that unusual.
With T, Lu and now ENE (Enron), we sure can see who once mighty companies can hit the skids and destroy retirements.... hopefully others will learn from the lesson.
-- posted by Kirk
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