After the closing bell sounded yesterday, Novellus Systems (NASDAQ: NVLS) reported a second-quarter loss, thanks to falling semiconductor sales stemming from general weakness in the semiconductor sector.

The firm reported a second-quarter net loss of 52 cents per share, or 41 cents per share excluding items. Although this loss was three cents wider than the consensus estimate, the shares managed to bounce off their after-hours lows -- thanks mainly to NVLS's forecast.

Continue reading Novellus posts larger-than-anticipated second-quarter loss

Novellus posts larger-than-anticipated second-quarter loss originally appeared on BloggingStocks on Tue, 14 Jul 2009 08:30:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: The Semiconductor sector was the most notable upgrade today, made by the Stephens Group; the firm believes the risk of a severe downturn is moderating and that 2007 will likely be an up year rather than a down year.

OTHER UPGRADES:

• Credit Suisse upgraded Safeway Stores Inc. (NYSE:SWY) to Neutral from Underperform, a move that comes after yesterday's analyst meeting provided new information that shows Blackhawk is a meaningful initiative and 2007 guidance exceeded expectations. Additionally, Safeway's target was raised to $35 from $25.
• JP Morgan upgraded Harmony Gold Mining Company Ltd. (NYSE:HMY) to Overweight from Neutral, increasing L-T gold price forecasts to $575/0z from $525/oz , expecting shares to outperform the sector.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst upgrades 12-13-06: Semiconductor sector upgraded originally appeared on BloggingStocks on Wed, 13 Dec 2006 11:09:00 EST. Please see our terms for use of feeds.