LAM Research: Up after upbeat quarterly results

International Combustion (India)

24/10/2019 12:45

** Shares of chip equipment maker  LRCX.O  rise 7.21% to
$250 in premarket trading, set for its best day in 9 months     
    ** Co beats Q1 estimates and forecast Q2 rev above the
analyst estimates, according to Refinitiv IBES  urn:newsml:reuters.com:*:nGNX61SWM6
    ** J.P.Morgan("Overweight", PT:$300) says increase in growth
for the demand for wafer fab equipment (WFE) this year driven by
domestic China investments
    ** D.A.Davidson("Neutral", PT:$250) says co's focused R&D
efforts are starting to bear fruit as the company is gaining
share in the active foundry/logic markets
    ** Chip stocks including Applied Mat1erials Inc  AMAT.O ,
Texas Instruments Inc  TXN.O , Advanced Micro Devices  AMD.O ,
Micron Technology  MU.O , Qualcomm Inc  QCOM.O , Broadcom Inc
 AVGO.O , Nvidia  NVDA.O , Intel  INTC.O  up between 0.5% and
3.4% 
    ** Xilinx Inc  XLNX  down 1.2% is only chipstock which is
trading lower after its current-quarter revenue forecast came in
below Wall Street estimates, weighed down by a prolonged
U.S.-China trade dispute

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 0536;))