Thursday, April 7, 2011

Earthquake Rattles (LRCX) (KLAC) (AMAT) (VSEA)

Shares of Lam Research Corp. (LRCX), KLA-Tencor Corp. (KLAC), Applied Materials Inc. (AMAT), and Varian Semiconductor Equipment Associates Inc. (VSEA) are all under heavy pressure today from the effects of the response to another earthquake in Japan.

This time it was a magnitude-7.4 earthquake, which also had a tsunami warning included with it. It was in the area that experienced the carnage from the 8.9 earthquake on March 11.

The broader market and other tech companies did reverse direction on the day after the news came out that there was another earthquake, dropping, while others somewhat shrugged off the news.

Varian Semiconductor Equipment Associates Inc. was trading at $46.88, falling $1.91, or 3.91 percent, as of 12:42 PM EDT. Applied Materials Inc. was trading at $15.52, down $0.23, or 1.46 percent. KLA-Tencor Corp. was at $44.49, dropping $1.68, or 3.64 percent. Lam Research Corp. was at $53.95, down $2.37, or 4.21 percent.

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