STOCKS TO WATCH: Apple, Intel, Silicon Valley Group
Expect the following stocks to be on the move Monday: Apple, Corning, cash strapped dot-coms, Intel, Silicon Valley Group.
Apple Computer (Nasdaq: AAPL)
So what do investors do for an encore following Apple's 52 percent plunge after its profit warning?
That's a good question. Apple's profit warning was ugly, but the aftermath was uglier. Some investors will inevitably think it was too ugly.
Look for the Apple debate to continue. Is this thing a potential bargain or a bomb?
Corning (NYSE: GLW)
The fiber optic company that has made investors very happy will make them a bit happier this week.
On Tuesday, Corning splits its shares, 3-for-1.
Dot-coms
Barron's did its latest installment of its dot-com cash burn rankings and it wasn't pretty.
GenesisIntermedia.com (Nasdaq: GENI) took the top spot as a burn victim with a negative 1.6 months of cash remaining. It's waiting for a private placement.
Other companies on the list include Juno Online Services (Nasdaq: JWEB) with 3.9 months of cash left and Net Objects (Nasdaq: NETO) with 4.8 months left.
The Barron's ranking may not move shares, but it's worth a read. There's a lot of scrambling going on for private placements.
Intel (Nasdaq: INTC)
Intel Corp. has pulled the plug on its problem-plagued Timna processor, a long-delayed chip -- originally designed for low-cost desktop PCs -- that was slated to be released in early 2001.
The chip, which was to feature integrated graphics and a memory controller, was a casualty of changing market conditions and continued development problems, according to an Intel spokesman.
Silicon Valley Group Inc. (Nasdaq: SVGI)
Silicon Valley Group and ASM Lithography Holding N.V. (ASML) said they would merge in a stock swap valued at roughly $1.6 billion.
ASM, a maker of semiconductor equipment, will buy rival Silicon Valley for $41.55 a share.
Under the terms of the agreement, SVG shareholders will get 1.286 ordinary ASML shares for each SVG share. Based on the closing prices on Friday, ASML said this represented a 58 percent premium to SVG shareholders.
SVG holders will own about 10 percent of the combined company.