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TECH STOCKS: Big Chip Gains Give Muscle To Tech-sector Rally

By Rex Crum Technology stocks put in a strong performance Thursday, with semiconductor stocks leading the day's advance following an upbeat report on chip-equipment sales and some positive economic data from both the U.S. and Europe. The Nasdaq Composite Index (RIXF), which lists many bellwether tech stocks, climbed almost 60 points, or 2.8%, to close at 2,218. The Philadelphia Semiconductor Index (SOX) rose almost 4% and the Morgan Stanley High Tech 35 Index (MSH) ended the day up by nearly 3%. Semiconductor stocks were among the biggest percentage gainers in the tech sector following an upbeat forecast on spending for semiconductor equipment from Gartner Inc. The Gartner report said that worldwide spending on semiconductor gear should grow 113% over the $16.6 billion spent in 2009. Gartner said demand for new chip technologies and devices should give the market a boost through the rest of the year. However, Gartner also warned that growth will likely not keep up such a hot pace in 2011. Among chip stocks, Lam Research Corp. (LRCX) rose $2.34, or 6.3%, to $39.41, Applied Materials Inc. (AMAT) was up 34 cents, or 2.8%, to close at $12.53, Novellus Systems Inc. (NVLS) rose $1.68 a share, or almost 7%, to $26.32 and STMicroelectronics (STM) rose 52 cents, or 6.6%, to $8.42. Gains also came from Intel Corp. (INTC), Nvidia Corp. (NVDA), Broadcom Corp. (BRCM) and Texas Instruments Inc. (TXN). A slip in initial U.S. unemployment claims, as well as gains by the euro against the U.S. dollar, was also seen as fueling investors' enthusiasm. Advances also came from IBM Corp. (IBM), Apple Inc. (AAPL), Dell Inc. (DELL), Microsoft Corp. (MSFT) and Google Inc. (GOOG).

Stock News for Lam Research (LRCX)
02/16/201712:55:17Statement of Changes in Beneficial Ownership (4)
02/14/201717:59:25Current Report Filing (8-k)
02/14/201716:05:00Lam Research Corporation Announces Participation at Upcoming...
02/14/201715:08:05Statement of Changes in Beneficial Ownership (4)
02/14/201715:07:12Statement of Changes in Beneficial Ownership (4)
02/14/201713:33:02Statement of Changes in Beneficial Ownership (4)
02/14/201713:30:26Statement of Changes in Beneficial Ownership (4)
02/14/201713:28:40Statement of Changes in Beneficial Ownership (4)
02/14/201713:26:57Statement of Changes in Beneficial Ownership (4)
02/14/201711:32:51Statement of Ownership (sc 13g)
02/10/201711:46:05Amended Statement of Ownership (sc 13g/a)
02/10/201709:51:28Amended Statement of Ownership (sc 13g/a)
02/02/201717:28:47Statement of Changes in Beneficial Ownership (4)
01/30/201716:18:36Quarterly Report (10-q)
01/25/201716:05:27Current Report Filing (8-k)
01/25/201716:05:00Lam Research Corporation Reports Financial Results for the Quarter...
01/25/201714:50:44Amended Statement of Ownership (sc 13g/a)
01/13/201716:43:42Statement of Changes in Beneficial Ownership (4)
01/05/201716:42:21Statement of Changes in Beneficial Ownership (4)
01/04/201716:05:00Lam Research Corporation Announces December Quarter Financial...

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