Wireless & Semiconductor's Feed Nasdaq Bull


IRVINE, Calif., Jan. 18, 2000 (PRIMEZONE) -- IBChannel (www.ibchannel.com) reported today that Techs were fending off the negative pull of higher bond yields at midday Tuesday. Nasdaq rose 24.86 to 4,089.13, and the Dow Jones industrial average slipped 100.83 to 11,622.15. Adaptive Broadband(TM) Corporation (Nasdaq:ADAP) announced today that it had signed a $225 million, five-year contract to provide its AB-Access fixed wireless broadband equipment to Colorado based Telecom Wireless Corporation (TWC) (OTCBB:NOYR). Telecom Wireless rallied 85 percent while creating a ripple effect on other Wireless players such as Usurf America (AMEX:UAX) which rose 27 percent to near 52 week highs.

Telecom Wireless' focuses on the convergence of video, voice and data in order to bring broadband connectivity, content and e-commerce over a wireless platform through the Internet to residential and business customers in both the United States and abroad.

Third generation semiconductor company Sitek (OTCBB:SITK) announced a new CMP technology that threatens to overtake Applied Materials (Nasdaq:AMAT) technological edge. Sitek (OTCBB:SITK) , Motorola (NYSE:MOT) and other third generation semiconductor technology companies Applied Materials Etec (Nasdaq:ETEC) , Broadcom (Nasdaq:BRCM), and Intel (Nasdaq: INTC) soared last week, each making new fifty two week highs.

Motorola Inc. reported earnings Monday for the final quarter of 1999 more than tripled from the year ago period, beating analysts expectations by a penny as demand for digital wireless telephones surged. ``This quarter culminates a year in which we achieved significant improvement in financial performance from our digital wireless phone and semiconductor businesses and benefited from our corporate-wide restructuring actions,'' Robert L. Growney, president and chief operating officer, said in the earnings statement. ``We have also made investments and formed promising alliances in third-generation wireless, Internet, broadband and semiconductor technologies.''

E-Tek Dynamics Inc. (Nasdaq:ETEK) shot up 33 percent Friday after rival JDS Uniphase (Nasdaq:JDSU) said it plans to buy the company in an all-stock deal worth roughly $15 billion, or $211.40 a share, a 56 percent premium on its Friday closing price.

Cypress Semiconductor (NYSE:CY) slid 1 13/16 to 35 1/4 despite a confirmation that it will deliver a fourth quarter upside surprise. Cypress forecasted earnings of 31 cents to 32 cents a share before charges.

Microsoft Corp (Nasdaq:MSFT) jumped 2 11/16 to 114 15/16 ahead of its earnings report to be released after market close. The other half of the Wintel team, Intel Corp (Nasdaq:INTC), rose 1 15/16 to 104 3/8.

Be Inc. (Nasdaq:BEOS) lost 1 3/4 to 17 5/8 after it said it will offer the newest version of its operating system for free later this quarter.

Akamai Technologies (Nasdaq:AKAM) lost 14 1/4 to 215 3/4 after it said it will acquire privately held Network24 Communications in a stock swap valued at about $200 million.

Unisys' fourth quarter looks like a repeat performance of its third quarter as sales came in almost flat. This time, however, the outlook is a bit better. Shares lost 1 3/4 to 29.

Kulicke & Soffa rose 2 13/16 to 54 3/4 after it handily beat Wall Street estimates with first quarter earnings of 52 cents a share. Entrust Technologies (Nasdaq:ENTU), down 3 7/8 to 59 and Efficient Networks (Nasdaq:EFNT), up 2 3/8 to 70 3/4, also reported.

VocalTec Communications (Nasdaq:VOCL) jumped 2 9/16 to 26 3/8 after it said it will restructure its operations and management to focus on the Voice over Internet Protocol (VoIP) industry.

PSINet Inc. (Nasdaq:PSIX) rose 7 57/64 to 93 after it said it would split its stock 2-for-1. PSINet has already preannounced strong sales.

Amazon.com Inc. (Nasdaq:AMZN) lost 5/8 to 63 5/8, Yahoo! (Nasdaq: YHOO) shed 8 17/32 to 344 15/32, and America Online Inc. (NYSE:AOL) lost 1 1/4 to 62.

Dell Computer Corp. (Nasdaq:DELL) lost 1 to 43, Compaq Computer Corp. (NYSE:CPQ) shed 9/16 to 29 15/16 and IBM Corp. (NYSE:IBM) lost 1 3/16 to 118 7/16.

Cisco Systems Inc. (Nasdaq:CSCO) rose 1 13/16 to 109 3/8 and Lucent Technologies (NYSE:LU) lost 1 9/16 to 51 13/16.

Interactive Business Channel (www.ibchannel.com) is the premier business and finance portal providing investors with a one stop destination for business and financial information including free news, quotes, charts, and commentary from top analysts.



            

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