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   Technology StocksSemi Equipment Analysis


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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 83853
 
BPSOX unchanged at 15

15
Wed
June 12

Symbol
ADI
AMAT
AMD
CY
LRCX
MCHP
MKSI
MLNX
MRVL
MXIM
SLAB
SWKS
TER
TSM
XLNX

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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 83853
 
4 New 52 Week Highs on the NDX - No New 52 Week Lows for Wednesday June 12, 2019

New Highs
HSIC
MDLZ
SBUX
XRAY

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To: Return to Sender who wrote (83462)6/12/2019 6:04:51 PM
From: Return to Sender
   of 83853
 

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

[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 (Briefing.com 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 83853
 
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

Bob

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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 83853
 
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 83853
 
Nice Macd reversal active!

Bob

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To: robert b furman who wrote (83466)6/12/2019 9:56:39 PM
From: Return to Sender
   of 83853
 
61% Downside Volume on the NYSE - 52% Downside Volume on the NASDAQ:

wsj.com

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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From: Sam6/13/2019 12:26:34 AM
2 Recommendations   of 83853
 
China set to produce first locally designed DRAM chip
Changxin Memory minimizes US tech to avoid trade war fallout
CHENG TING-FANG, Nikkei staff writer June 12, 2019 17:38 JST
asia.nikkei.com

TAIPEI -- A Chinese company founded in 2016 is about to become the country's first mass producer of locally designed key memory chips, competing with giants Samsung Electronics and Micron Technology in a $100 billion a year market, as Beijing steps up its drive for self-sufficiency in core technologies.

Changxin Memory Technologies, previously known as Innotron Memory, has redesigned its dynamic random access memory chips to minimize the use of U.S. technology, in a bid to avoid infringing patents and potentially falling victim to the U.S. crackdown on China's rising tech industry, according to two sources with knowledge of the matter.

While Changxin will not be able to eliminate the threat entirely as its production will still rely on American equipment and design tool suppliers, the redesign will insulate the company against potential U.S. allegations of intellectual property theft, the sources told Nikkei Asian Review.

The company, which has invested $8 billion in a chip production plant in the eastern Chinese city of Hefei, intends to start production of these crucial memory components by the end of the year, they said. DRAM chips are the working memory of billions of devices, from laptops to smartphones, data center servers and connected cars.

The Chinese company will initially produce some 10,000 wafers a month, one of the sources said. "It will need to undergo some kind of learning curve, but the company plans to have some output by the end of this year," he said.

While the output will still be small compared with the 1.3 million DRAM wafers a month currently produced globally, the start of production would still mark a major breakthrough for China as the country currently has no homemade DRAM chips, said Sean Yang, an analyst at market research company CINNO.

The global DRAM market was worth some $99.65 billion in 2018, and three companies -- Samsung Electronics, SK Hynix of South Korea and Micron Technology of the U.S. -- control around 95% of output.

"The Chinese company...aims to match the [output] level and technology of the big three, rather than just making specialized DRAM for fragmented niche markets," one of the sources said. However, meeting this goal depended on the quality and consistency of production as it ramped up, he added.

Another source familiar with Changxin Memory's plans said the company was expecting capital expenditure of $1 billion to $1.5 billion a year, which already exceeds last year's $650 million spending by Nanya Technology, the world's No.4 DRAM chipmaker.

Other Chinese chipmakers are also slated to start mass production of chips such as NAND flash memory units, which save data when power is off. The country's first NAND flash memory project by state-backed Yangtze Memory Technologies Co. will begin producing by the end of the year and will challenge Samsung, Toshiba, Western Digital and Micron, Nikkei has reported.

Changxin Memory decided to redesign its chips in an effort to avoid the fate of smaller local peer Fujian Jinhua Integrated Circuit Co, which never began production and was almost forced out of business earlier this year when Washington barred its access to U.S. technology and accused it of intellectual property theft.

Changxin was widely seen as the next potential target for Washington's campaign and has taken extra steps to avoid infringing U.S. patents, sources familiar with the matter said. "The company also asked legal counsel to sit in on external business meetings to make sure staff was extremely careful when communicating with partners and suppliers," one of the two people said.

Zhu said last month that Changxin Memory's DRAM design was based on technology from Qimonda, an affiliate of German chipmaker Infineon that filed bankruptcy in 2009.

But like the world's leading semiconductor manufacturers it still needs to use equipment from U.S. companies such as Applied Materials, Lam Research, KLA-Tencor, as well as materials from Dow Chemical and electronic design automation tool providers from Cadence and Synopsys.

The company's CEO Zhu Yiming traveled to Europe last October to meet the management of ASML, the biggest European chip equipment provider, and also visited Belgium's IMEC, a pioneering research institute that specializes in nano-electronics and digital technology. He was seeking support from suppliers outside the U.S. and wanted to signal the company's ambition to challenge market leaders, Nikkei Asian Review reported at the time. Changxin Memory's website says it was founded in 2016 and its LinkedIn page says it employs several thousands people.

Depending on how quickly Changxin accelerates production, the company's entry into an already depressed DRAM market could hit prices even further over the next two years, analysts suggested. The average DRAM price has more than halved since the peak in the third quarter last year as the U.S.-China trade war takes its toll on the global economy, said CINNO's Yang said. "We expect the DRAM price will continue to drop in the second half of this year," Yang added.

Research group Trendforce expects DRAM prices to plunge by up to 15% in the third quarter of 2019, with a further drop of up to 10% in the final three months of this year when the U.S. blacklisting of Huawei Technologies could be expected to hit demand.

Changxin Memory is also referred to as Heifei Rui-li Integrated Circuit Manufacturing. "Changxin Memory has no information to share so far regarding Nikkei Asian Review's request for comments," said a company spokesperson.

Nikkei staff writer Lauly Li contributed to this report.

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From: Sam6/13/2019 9:19:32 AM
3 Recommendations   of 83853
 
China chip industry insiders voice caution on catch-up efforts
Josh Horwitz, Sijia Jiang
June 13, 2019 / 8:22 AM / Updated an hour ago

SHANGHAI/HONG KONG (Reuters) - Since the U.S. government put Huawei Technologies Co Ltd on a trade blacklist, effectively banning American firms from doing business with it, China’s leaders have spoken boldly about achieving self-sufficiency in the critical semiconductor business.

But industry insiders are less optimistic that Chinese chip makers can quickly meet the challenge of supplying all the needs of Huawei and other domestic technology firms.

The prospectuses of Chinese chip companies preparing to list on a new tech-focused stock exchange are blunt, characterizing the domestic industry as “relatively backward”, lacking in talent and requiring “a long time to catch up”.

Chinese chip engineers tell tales of local manufacturing that just is not up to snuff, while analysts point out the many areas where China remains reliant on technology from the United States, Taiwan, South Korea, Japan and Europe, with some questioning whether government policies are in the right place.

continues at reuters.com

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To: Return to Sender who wrote (83460)6/13/2019 4:07:10 PM
From: Return to Sender
2 Recommendations   of 83853
 
BPNDX rises 1 to 61 - [LULU added]

61
Thurs
Jun 13

Symbol Symbol
AAPL AAPL
ADI ADI
ADP ADP
AMAT AMAT
AMD AMD
AMZN AMZN
BKNG BKNG
BMRN BMRN
CELG CELG
CERN CERN
CHKP CHKP
CHTR CHTR
CMCSA CMCSA
COST COST
CSCO CSCO
CSX CSX
CTAS CTAS
CTSH CTSH
DLTR DLTR
EA EA
EBAY EBAY
FAST FAST
FISV FISV
HAS HAS
HSIC HSIC
IDXX IDXX
ILMN ILMN
INTU INTU
ISRG ISRG
LBTYA LBTYA
LRCX LRCX
MAR LULU
MCHP MAR
MDLZ MCHP
MELI MDLZ
MNST MELI
MSFT MNST
MXIM MSFT
NFLX MXIM
NTAP NFLX
NXPI NTAP
ORLY NXPI
PAYX ORLY
PCAR PAYX
PEP PCAR
PYPL PEP
ROST PYPL
SBUX ROST
SIRI SBUX
SNPS SIRI
SWKS SNPS
TMUS SWKS
TSLA TMUS
TTWO TSLA
VRSK TTWO
VRSN VRSK
VRTX VRSN
WLTW VRTX
XLNX WLTW
XRAY XLNX

XRAY

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