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Intelís spending plan boosts chip-equipment stocks

MarketWatch - Jan 14, 2011

Intel Corp.ís heftier-than-expected budget for building up its manufacturing muscle triggered a sharp rise in shares of chip-equipment makers on Friday.

Intel /quotes/comstock/15*!intc/quotes/nls/intc (INTC 21.11, -0.18, -0.85%) on Thursday announced that it expected capital spending for 2011 to total $9 billion, plus or minus $300 million, as it ramps up its manufacturing capabilities. Thatís substantially higher than the roughly $5.2 billion the company spent last year. Read details about Intelís quarterly report.

The announcement prompted a sharp jump in shares of major chip-equipment companies, led by Novellus Systems Inc. /quotes/comstock/15*!nvls/quotes/nls/nvls (NVLS 36.56, +3.75, +11.43%) , shares of which soared 10%, and Applied Materials Inc. /quotes/comstock/15*!amat/quotes/nls/amat (AMAT 15.19, +0.95, +6.67%) , which was up 5.4%.

KLA-Tencor Corp. /quotes/comstock/15*!klac/quotes/nls/klac (KLAC 42.18, +2.43, +6.11%) also gained 5.7%, while Lam Research Corp. /quotes/comstock/15*!lrcx/quotes/nls/lrcx (LRCX 52.48, +2.08, +4.12%) added 3.1% and Form Factor /quotes/comstock/15*!form/quotes/nls/form (FORM 10.06, +0.55, +5.78%) traded up more than 6%.

Read Full Article from MarketWatch

- Posted: 2011-01-14 13:12:51


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