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   Technology StocksSemi Equipment Analysis

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From: Sam6/12/2019 12:35:27 PM
1 Recommendation   of 85329
Intel Cut Huawei Dealings But Believes Blacklisting Was Unfair
By Marvie Chorawan-Basilan
Jun 12, 2019 05:19 PM

An Intel executive has spoken up about the Huawei blacklisting that forced many companies to cut ties with the Chinese tech giant. It appears that even if the firm reduced dealings with the Honor maker, it is convinced there should have been a different approach.

Deputy General Counsel and Vice President of Intel's Law and Policy Group, Peter Cleveland, argued that the White House can explore other options towards its concerns about Huawei.

For Cleveland, there is a "positive way and the informative way" to help Huawei abide by the U.S. government's business and security demands. He said a "more constructive approach" was better "rather than a sledgehammer approach that wipes out their business here."

continues at

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From: Sam6/12/2019 1:33:14 PM
1 Recommendation   of 85329
Micron Earnings Will Tumble Because Chip Prices Have Further to Fall, Analyst Says --
DOW JONES & COMPANY, INC. 1:30 PM ET 6/12/2019

Symbol Last Price Change
32.9 -1.94 (-5.57%)
QUOTES AS OF 01:31:13 PM ET 06/12/2019

The memory chip industry will face more difficult times the rest of the year, according to Evercore ISI, which lowered its earnings estimates for Micron citing weaker industry conditions.

The back story. Micron Technology(MU) stock has been sliding for the past month as hope for a recovery in chip prices has faltered. A few months ago, the stock was up more than 30% for the year.

The chip maker is a leader in the DRAM and NAND memory-semiconductor markets. DRAM stands for dynamic random-access memory, which is used in desktop computers and servers, while NAND is flash memory, found in smartphones and solid-state hard drives.

What's new. Evercore ISI analyst C.J. Muse on Wednesday lowered his earnings estimates for Micron saying the company will be negatively impacted by weaker conditions in the memory industry. He reaffirmed his Outperform rating for the stock.

"We believe that a slower demand recovery coupled with excess inventory is leading to steeper than expected pricing declines through the remainder of the year," he wrote.

Micron stock was down 5.1% to $33.06 on Wednesday. The company did not immediately respond to a request for comment.

The analyst lowered his Micron earnings per share estimates to $2.86 from $3.24 for 2019 and to 67 cents from $2.75 for 2020.

Looking ahead. The analyst reaffirmed his $60 price target for Micron stock due to his confidence in the company's long-term opportunities.

Earlier this month, Barron's suggested there may be more downside for the chip sector due to deteriorating fundamentals.

Write to Tae Kim at

[ Wow, this is the lowest estimate for 2020 I've seen. 67 cents. For the year? That seems to be what the article says. Yet the analyst maintains a $60 price target. smh ]

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To: Return to Sender who wrote (83447)6/12/2019 5:01:03 PM
From: Return to Sender
1 Recommendation   of 85329
BPNDX unchanged at 60

Jun 12


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To: Return to Sender who wrote (83448)6/12/2019 5:18:44 PM
From: Return to Sender
2 Recommendations   of 85329
BPSOX unchanged at 15

June 12


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To: Return to Sender who wrote (83461)6/12/2019 5:22:21 PM
From: Return to Sender
2 Recommendations   of 85329
4 New 52 Week Highs on the NDX - No New 52 Week Lows for Wednesday June 12, 2019

New Highs

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To: Return to Sender who wrote (83462)6/12/2019 6:04:51 PM
From: Return to Sender
   of 85329

Stock market dips lower, weighed down by energy and financial stocks
12-Jun-19 16:20 ET
Dow -43.68 at 26004.83, Nasdaq -29.85 at 7792.70, S&P -5.88 at 2879.84

[BRIEFING.COM] The S&P 500 declined 0.2% on Wednesday in a lackluster session that saw little buying conviction from investors. Shares of energy and financial companies contributed to the lower finish, while defensive-oriented sectors helped limit losses.

The Dow Jones Industrial Average lost 0.2%, and the Nasdaq Composite lost 0.4%. The Russell 2000 (+0.04%) finished just above its flat line.

High expectations for the Fed to signal for a rate cut in its policy meeting next week were bolstered by soft inflation data in the Consumer Price Index (CPI) for May. Total CPI increased 0.1% as expected. The market also remained hopeful for a Trump-Xi meeting at the G-20 summit at the end of the month, although reports indicated there have been little preparations for a meeting.

These positive considerations continued to tame any serious selling interest and helped foster gains in six of the 11 S&P 500 sectors.

There was a bit of a defensive tilt to the session, though, evident by the increased demand for U.S. Treasuries and the outperformance of the defensive-oriented sectors. The S&P 500 utilities (+1.3%), health care (+0.5%), and real estate (+0.3%) sectors were among the day's best performers.

The S&P 500 energy sector (-1.4%) was Wednesday's worst-performing group, falling on the back of oil prices ($51.16, -$2.18, -4.1%) amid bearish inventory data. The financials sector (-1.0%) was undercut by lower Treasury yields and by shares of Wells Fargo (WFC 44.91, -1.35, -2.9%) after it warned net interest income for 2019 will be at the low end of prior guidance.

The 2-yr yield declined four basis points to 1.89%, and the 10-yr yield declined one basis point to 2.13%. The U.S. Dollar Index advanced 0.3% to 97.01.

The semiconductor space, meanwhile, was pressured by some negative commentary out of Evercore ISI. The firm expects weakness in the memory chip business to continue into year's end, pushing back a recovery to the second half of 2020. The Philadelphia Semiconductor Index lost 2.3%.

Separately, shares of Facebook (FB 175.04, -3.06, -1.7%) were hit by more scrutiny of the company's privacy practices. The Wall Street Journal indicated sources that said Facebook uncovered emails suggesting CEO Mark Zuckerberg wasn't prioritizing privacy or complying with the FTC consent decree. Facebook denied any intentional wrongdoing from Mr. Zuckerberg.

Reviewing Wednesday's economic data, which included the Consumer Price Index for May, the weekly MBA Mortgage Applications Index, and the Treasury Budget for May:

  • Total CPI increased 0.1%, as expected, and so did core CPI, which excludes food and energy prices ( consensus +0.2%). The monthly changes left the yr/yr readings at 1.8% and 2.0%, respectively, versus 2.0% and 2.1% for the 12 months ending in April.
    • The key takeaway from the report is that consumer inflation pressures remain muted, which in turn is going to reinforce the market's inflated expectations for the Fed to cut the target range for the fed funds rate sooner rather than later.
  • The weekly MBA Mortgage Applications Index soared 26.8% amid a drop in mortgage rates.
  • The Treasury Budget for may showed a deficit of $207.8 billion versus a deficit of $146.8 billion for the same period one year ago. The Treasury Budget is not seasonally adjusted, so the May deficit cannot be compared to the $160.3 billion surplus for April.
    • The fiscal year-to-date deficit is $738.6 billion versus a deficit of $532.2 billion for the same period ago. The budget deficit over the last 12 months is $985.4 billion, versus $924.4 billion for the 12 months ending in April.
Looking ahead, investors will receive the weekly Initial and Continuing Claims report and Export and Import Prices for May on Thursday.

  • Nasdaq Composite +17.4% YTD
  • S&P 500 +14.8% YTD
  • Russell 2000 +12.7% YTD
  • Dow Jones Industrial Average +11.5% YTD

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To: Return to Sender who wrote (83463)6/12/2019 6:14:59 PM
From: robert b furman
1 Recommendation   of 85329
Russell 2000 showed positive strength when all other indices were down.

Not conclusive, but a necessary ingredient for a third wave / ELLIOTT WAVE PRINCIPLE FROST AND PRECHTER


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To: robert b furman who wrote (83464)6/12/2019 9:06:52 PM
From: Return to Sender
1 Recommendation   of 85329
I was surprised at the relative strength in the Russell 2000 too. I have to say though that there is lots of room for improvement in performance going forward.

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To: Return to Sender who wrote (83465)6/12/2019 9:27:36 PM
From: robert b furman
1 Recommendation   of 85329
Nice Macd reversal active!


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To: robert b furman who wrote (83466)6/12/2019 9:56:39 PM
From: Return to Sender
   of 85329
61% Downside Volume on the NYSE - 52% Downside Volume on the NASDAQ:

Wednesday, June 12, 2019
Notice to readers: As of 3/3/11, Closing ARMS Index (TRIN) calculation is based on composite data. Click here for historical data prior to 3/3/11.
NYSE Latest close Previous close Week ago
Issues traded 3,030 3,045 3,041
Advances 1,379 1,485 1,488
Declines 1,553 1,463 1,462
Unchanged 98 97 91
New highs 112 131 175
New lows 87 39 61
Adv. volume* 264,619,390 428,628,687 356,309,787
Decl. volume* 403,445,205 296,278,842 443,468,005
Total volume* 673,718,647 729,049,848 819,012,705
Closing Arms (TRIN)† 1.40 0.70 1.44
Block trades* 4,923 5,232 5,168
Adv. volume 1,170,919,371 1,920,507,659 1,436,897,639
Decl. volume 1,851,472,088 1,322,613,474 2,039,156,869
Total volume 3,039,340,631 3,259,762,691 3,565,747,546
Nasdaq Latest close Previous close Week ago
Issues traded 3,187 3,211 3,191
Advances 1,494 1,406 1,321
Declines 1,592 1,681 1,774
Unchanged 101 124 96
New highs 45 72 93
New lows 107 90 119
Closing Arms (TRIN)† 1.01 0.96 0.84
Block trades 11,566 10,227 8,897
Adv. volume 930,152,139 909,244,095 982,337,057
Decl. volume 1,004,913,276 1,048,783,504 1,102,039,235
Total volume 1,950,424,558 2,065,871,014 2,108,604,798
NYSE American Latest close Previous close Week ago
Issues traded n.a. n.a. n.a.
Advances n.a. n.a. n.a.
Declines n.a. n.a. n.a.
Unchanged n.a. n.a. n.a.
New highs n.a. n.a. n.a.
New lows n.a. n.a. n.a.
Adv. volume* n.a. n.a. n.a.
Decl. volume* n.a. n.a. n.a.
Total volume* n.a. n.a. n.a.
Closing Arms (TRIN)† n.a. n.a. n.a.
Block trades* n.a. n.a. n.a.
Adv. volume n.a. n.a. n.a.
Decl. volume n.a. n.a. n.a.
Total volume n.a. n.a. n.a.
NYSE Arca Latest close Previous close Week ago
Issues traded 1,584 1,585 1,584
Advances 521 962 898
Declines 1,037 592 656
Unchanged 26 31 30
New highs 24 43 80
New lows 10 11 20
Adv. volume* 53,943,468 145,303,177 150,761,781
Decl. volume* 139,279,612 48,040,009 135,810,187
Total volume* 193,394,766 201,861,764 291,216,683
Closing Arms (TRIN)† 1.16 0.72 1.21
Block trades* 1,062 1,094 1,590
Adv. volume 273,621,446 650,142,536 653,328,051
Decl. volume 632,812,078 288,258,089 578,996,193
Total volume 907,958,230 989,943,376 1,254,537,414

*Primary market NYSE, NYSE American or NYSE Arca only. †Compares the ratio of advancing to declining issues with the ratio of volume of shares rising and falling. Arms Index or TRIN = (advancing issues / declining issues) / (composite volume of advancing issues / composite volume of declining issues.) Generally, an Arms of less than 1.00 indicates buying demand; above 1.00 indicates selling pressure.

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