Caris & Company downgraded Applied Materials Inc. (AMAT : Applied Materials Inc [snip]
"The period ahead will likely be marked by further new orders cutbacks from what now looks like 'peak' mid-2006 levels," Caris analyst Rick Whittington wrote in a research note. He cut Applied Materials and Novellus to average -- the equivalent of a hold rating -- from above average. KLA-Tencor was lowered to above average from buy. [snip]
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