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Fly News Breaks for June 22, 2018
SSNLF, KLAC
Jun 22, 2018 | 07:42 EDT
As reported earlier, Needham analyst Y. Edwin Mok downgraded KLA-Tencor (KLAC) to Hold from Buy, saying his recent checks indicate a heightened risk for slower foundry investments in the second half of 2018. Mok says he is still positive on the company's longer-term prospects, but its foundry delays and DRAM memory push-out reported by Samsung (SSNLF) will pressure earnings for the rest of the year while limiting near-term price appreciation.
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