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Good to know. Once again thanks for the info.
Market seems to be wobbling a little now. Maybe the cracks are beginning to show in the veneer.
KLIC. One I trade infrequently. Looks like someone bought over 100,000 shares this morning. Don't know if it means anything. Just surprised at the action.
Kulicke and Soffa Industries, Inc.
Pre-Market | After Hours Market Aug. 16, 2006 Market Close: $ 7.52
Pre-Market Trade Reporting Thursday August 17
Pre-Market
Last: $ 7.52 Pre-Market
High: $ 7.52
Pre-Market
Volume: 116,800 Pre-Market
Low: $ 7.52
Pre-Market
Time (ET) Pre-Market
Price Pre-Market
Share Volume
09:06 $ 7.52 106,400
08:40 $ 7.52 10,400
1
DJ Advanced Micro Devices Upped To Buy At Citigroup
08/17/2006
Dow Jones News Services
(Copyright © 2006 Dow Jones & Company, Inc.)
Chipmaker Advanced Micro Devices Inc. (AMD) was upgraded to buy from hold at Citigroup, which cited an improving near-term PC market and the company's partnership with Dell (DELL) . "From our recent trip through Asia, we concluded that the PC supply chain has bottomed, the third-quarter 2006 build is picking up momentum, and potential for upside exists," Citigroup said.
Thank you for the update info.
Thanks. Will keep an eye on it (KLAC) and the others you mentioned.
KLAC. Zeev. Since you now play the dark side, would you go short KLAC here? Thanks.
IRIS. Left the PC for a few hours and came back to see my GTC order to sell at $8.89 executed for lunch money profits. And now it's higher. Who woulda thunk it??? LOL
Thanks to you and landm19 for the conference call update. It appears there will be ample opportunity to buy AMAT back at a lower price if one desires. It also seems the analysts may be right that the semi-equipment cycle has peaked for now. Time will tell.
LOL. Good one. Anyway, I see AMAT is pulling back. Glad I sold for now.
Okay. I'll bite. I'll be the first to say I'm not great with charts, but this would seem to indicate that AMAT is on the cusp of a long term uptrend. Correct?
AMAT. Used this AH bounce to get out at $16.15 from buy in early July at $16.11. Held that baby for a while. Glad to get out intact. Of course it will now probably take off like a rocket, but c'est la vie.
AD. Great stuff. Hadn't seen it before. Thanks.
LIFC. Long at $26.99
OTOTOT
Gee. And I thought this was the non-politics board.
Guess I'll make a comment then. I happen to believe Truman when he said he decided to use the A-bomb because he couldn't have faced telling mothers that they had the means to end the war sooner, and didn't use it, so some of their sons were killed as the end dragged on.
HANS. Lost that roll. Stopped out $31.68.
HANS. Rolling the dice. Long at $32.08
landm19 posted this earlier in the morning.
00:28 PEIX Pacific Ethanol may be overvalued - Barron's (18.13 )
Barron's reports Pacific Ethanol (PEIX) is in the midst of building five ethanol refineries, which could produce 220 mln gallons in 2008. Meanwhile, it distributes ethanol made by others. In the 12 months through March, it lost $9 mln, or 31 cents a share, on sales of $124 mln. The vote of confidence by Gates' Cascade Investment merits only so much weight, given that the investment consists of preferred shares that convert to common at an effective price of $8 a share. During the stock's sell-off this spring, insiders sold more than $100 mln worth of shares. In July, they registered eight mln shares and warrants held by investment firms -- representing about 20% of Pacific Ethanol's outstanding stock. As of mid-July, about the same number of shares were sold short. It costs only $1.30 to $1.60 a gallon to build an ethanol refinery, according to Morgan Stanley analyst Eric Pipa. So Pacific Ethanol's enterprise value of $630 mln (subtracting cash) is twice the replacement cost of the plants that it's building. Bill Gates paid a better price.
VLCM. Out for the 33 cent scalp from friday's buy.
VLCM. Long a few at $18.55. Hoping the bloodbath is just about over.
And also this on AAPL.
Reuters
Apple says likely to restate results, delay filing
Thursday August 3, 9:09 pm ET
By Sue Zeidler
LOS ANGELES (Reuters) - Apple Computer Inc. (NASDAQ:AAPL - News) said on Thursday it would likely need to restate earnings and will delay filing its quarterly report because of additional irregularities it found in its accounting of stock options and its shares fell 6.6 percent.
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Apple first announced on June 29 that it was conducting an internal probe into irregularities related to stock option grants, hired an independent counsel to conduct its own investigation of the irregularities and notified the U.S. Securities and Exchange Commission.
Apple, maker of the iPod digital music player and Macintosh computer, is now among the most high-profile companies caught up in a stock options scandal that has swept through the technology industry. The SEC has more than 80 investigations underway to determine if companies manipulated the prices of stock options given to executives.
Cupertino, California-based Apple will likely need to restate results to record noncash charges for compensation expense relating to past stock option grants. Apple said it had not determined the amount of the charges, resulting tax and accounting impacts, or which periods may require restating.
Apple also said in a SEC regulatory filing Thursday that all financial communications issued since September 29, 2002, should not be relied upon. The irregularities are related to the issuance of stock option grants made between 1997 and 2001.
"We are refraining from any further comments until the independent investigation is concluded," said Apple spokesman Steve Dowling on Thursday.
Apple said in June that one of the stock option grants was to chief executive Steve Jobs, but it was subsequently canceled and resulted in no financial gain to Jobs.
As part of its ongoing investigations, the SEC last month filed civil fraud charges against the former chief executive and two other officials of Brocade Communications Systems Inc. (NASDAQ:BRCD - News), a San Jose-based company that makes hardware for computer networking storage systems.
The former CEO, Gregory Reyes, and former human resources vice president Stephanie Jensen also face criminal fraud charges that carry a maximum penalty of 20 years in prison and $5 million in fines. Reyes' attorney, Richard Marmaro, has said his client is innocent.
Shares of Apple rose $1.43, or 2.1 percent, to close at $69.59 on Nasdaq. In extended trade, the stock slid 6.6 percent to $65.00.
Yahoo shows AAPL at $65 AH. Down $4.59
AP
Apple Warns Some Profits May Be Erased
Thursday August 3, 8:46 pm ET
By Michael Liedtke, AP Business Writer
Apple Warns Some Profits May Be Erased Because of Stock Option Trouble
SAN FRANCISCO (AP) -- Apple Computer Inc. warned Thursday that it probably will wipe out some of its profits recorded since 2002 after uncovering more evidence that it improperly accounted for employee stock options.
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Without providing specifics, the Cupertino, Calif.-based maker of Macintosh computer and iPod music players said it had found more stock option trouble since first announcing its internal investigation into "irregularities" in late June.
The new problems were serious enough to prompt the company to alert the Securities and Exchange Commission and hire an outside lawyer to take over the investigation.
Signaling that years of earnings may need to revised, Apple also advised investors to disregard financial statements dating back to September 2002 -- a period that covers one of the most prosperous stretches during the company's 30-year history.
Dozens of other companies across the country are grappling with similar stock option headaches, but Apple is by far the most prominent of the lot to acknowledge trouble so far.
While Apple hasn't explained exactly how it mishandled stock options, most of the problems so far have revolved around a practice known as "backdating."
Under this practice, insiders try to make the rewards more lucrative by retroactively setting the option's exercise price to a low point in the stock's value. Usually, a stock option's exercise price coincides with the market value at the time of a grant to give the recipient an incentive to drive the price higher.
If companies backdate options without accounting for the move, it can cause profits to be overstated and taxes to be underpaid.
ENER. Any idea why the gap down today?
EDIT: Found this on the message board. From today's Zachs interview apparently
The winners will be those that are first to market - I'm thinking specifically of Evergreen Solar (Nasdaq: ESLR) and Energy Conversion Devices (Nasdaq: ENER). We like the stories of these two companies, but we feel they are very expensive at this time. Recently, we upgraded ENER and ESLR to a Hold, and it looks like a good time to have done it. But there still is considerable downside risk - and they won't be showing profits until 2008.
LIFC. Been a nice trader for a while now. Hoping for a good pullback.
LIFC. Took the 85 cent profit (from $27.26). Will probably go higher now. LOL
EDIT:. Yup. Sure did.
Nice trade (ISRG). As far as IRIS, I'm going to hang in for a while, but I have to admit I didn't think it would go quite this low.
Thanks. A cranky one for sure IRIS.
IRIS. Went long a few at $8.85. Lot lower now. Ouch !!!
Thanks. It finally loaded on it's own a minute ago. Somewhat slow this morning though.
Not too many people beat your entry and exit points. I'm a big fan and appreciate all you do to help out the rest of us with the info you post. I have to be off line for the rest of the afternoon. Best of luck with your tradng.
Russ
LIFC. I walked away from the PC for a few minutes, came back and saw the dump. You got a great entry. Next time I'll wait for you to go first. <ggg>
LIFC. Long at $27.26
Yes. Finally got a chance to log on for a few. Right now, the hard part is figuring out where to jump back in.
VLCM. my original intention was to also wait for the $22 area, but I'm not able to watch the market for more than a short time each day this week. When I stop watching, that's when profits usually slip away from me, so I grabbed while the grabbing was good. LOL. Best of luck with it. I do think you'll see the 22's.
VLCM. Took my buck profit.
LIFC. Out for a 38 cent scalp.
LIFC. Long a few at $27.59
VLCM. Starter position at 19.64
PTC. Long at $8.24. Will hold longer term.
EDIT: I was WAAAYYYYY Early !!!!!