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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)
11/12/201516:38:15Current Report Filing (8-k)
11/10/201517:16:35Statement of Changes in Beneficial Ownership (4)
11/10/201517:02:23Statement of Changes in Beneficial Ownership (4)
11/10/201517:01:53Statement of Changes in Beneficial Ownership (4)
11/10/201516:43:28Statement of Changes in Beneficial Ownership (4)
11/10/201516:40:47Statement of Changes in Beneficial Ownership (4)
11/10/201516:13:59Statement of Changes in Beneficial Ownership (4)
11/10/201514:50:03Statement of Changes in Beneficial Ownership (4)
11/06/201506:05:20Securities Registration: Employee Benefit Plan (s-8)
11/05/201517:04:34Current Report Filing (8-k)
11/03/201516:49:49Quarterly Report (10-q)
10/27/201517:37:01Statement of Changes in Beneficial Ownership (4)
10/22/201514:53:00KLA-TENCOR CORP. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces...
10/21/201506:11:16Current Report Filing (8-k)
10/21/201506:00:00Lam Research to Buy KLA-Tencor
10/21/201504:00:00KLA-Tencor Reports Fiscal 2016 First Quarter Results And Agreement...
10/21/201504:00:00Lam Research to Combine with KLA-Tencor, Creating a New Capability...
10/20/201517:35:49Notable earnings after Wednesday’s close
10/20/201515:58:15Chip equipment stocks gain after Intel unveils flash investment...

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