CALDEIRÃO DE BOLSA

Infineon Technologies:

pelo terceiro trimestre consecutivo a maior fabricante
europeia de semicondutores reportou um prejuízo, tendo estes atingido os EUR 100
mn, um valor mais elevado que as estimativas dos analistas (EUR –84 mn).

As vendas registaram uma quebra de 13% YoY para os EUR 1,73 mil mn,
sensivelmente em linha com o esperado.

Recorde-se que ontem a empresa confirmou a intenção de proceder ao IPO da sua unidade de chips de memória, de modo a concentrar os seus esforços nas unidades menos sujeitas a variações do
ciclo de procura.

Infineon- Reportou resultados trimestrais depois de ter afirmado que vai separar a sua unidade
de chips de memória. A empresa reportou prejuízos de €100 M vs lucros de €44 M no ano
anterior.

Infineon Technologies "add"

Monday, November 14, 2005 10:21:56 AM ET
Dresdner Kleinwort Wasser.

LONDON, November 14 (newratings.com) – Analysts at Dresdner Kleinwort Wasserstein reiterate their "add" rating on Infineon Technologies (IFX.ETR). The target price is set to €10.

In a research note published this morning, the analysts mention that the company is likely to report its FQ405 results broadly in-line with the expectations. Infineon Technologies’ earnings for the quarter and the full year are expected to be adversely impacted, however, by charges associated with the agreement reached with the company’s unions regarding the closure of the Perlach fab, the analysts say. The company is likely to announced conservative guidance for the near future, in view of the declining DRAM prices and the sluggish automotive sector, Dresdner Kleinwort Wasserstein adds

Infineon Technologies "underweight"

Monday, November 14, 2005 8:13:51 AM ET
J.P. Morgan Securities

LONDON, November 14 (newratings.com) - Analysts at JP Morgan maintain their "underweight" rating on Infineon Technologies (IFX.ETR).

In a research note published this morning, the analysts mention that the company is scheduled to report its F4Q05 results on November 18. Infineon Technologies’ clean EBIT and revenues for the quarter are expected to be in-line with the consensus, the analysts say. Although the company is likely to have outperformed the estimates in the DRAM segment, the outlook continues to be challenging due to the decline in DRAM prices, JP Morgan adds

Merck Finck Keeps Infineon At Hold

Tuesday, November 15, 2005 5:38:40 AM ET
Dow Jones Newswires


1021 GMT [Dow Jones] Merck Finck keeps Infineon (IFX.ETR) at hold following a press report the company might IPO its DRAM unit. Says positive strategic implications of a spin-off would be less volatile earnings and the unlocking of working capital. However, a spin-off, now or in spring 06, would be bad timing as DRAM prices are in a cyclical downturn. Adds, a much smaller Infineon might have to exit the DAX. Shares -1.4% at EUR8.29. (JUM

Sale Of Infineon's DRAM Unit Unlikely

Tuesday, November 15, 2005 4:23:44 AM ET
Dow Jones Newswires


0904 GMT [Dow Jones] Landesbank Rheinland-Pfalz says it's unlikely Infineon (IFX.ETR) is going to sell its DRAM unit. Notes such a move would influence the share price positively, sees Infineon's fair value without DRAM unit at around EUR10. However, says, in the current market environment, a sale seems unlikely. Keeps at outperformer with a EUR10 target. Shares trade -1% at EUR8.33. (JUM)

UBS Cuts Infineon Tech To Reduce From Neutral >IFX

Tuesday, November 15, 2005 5:53:46 AM ET
Dow Jones Newswires



NEW YORK (Dow Jones)--UBS downgraded German chip maker Infineon Technologies AG (IFX.ETR) to reduce from neutral to reflect the recent rally in Infineon's share price ahead of its fourth-quarter results, being released on Friday.

UBS said it's expecting an 11% drop in revenue to EUR1.79 billion, hurt by losses in its memory division.

UBS already estimated that Infineon's decision to spin off its DRAM production facilities is reflected in the share price

Infineon- UBS baixa recomendação de neutral para reduce

Infineon and Siemens declined to comment on the note. A spokesman with Micron in Boise, Idaho, said it was company policy not to comment on rumors or conjecture. Nanya was not immediately available.

Chief Executive Wolfgang Ziebart has said repeatedly he wants to concentrate on the profitable parts of the business, which are mainly logic chips for automotive applications.

5:04am 11/04/05
Morgan Stanley ups Infineon on possible strategic change (IFX, DE:623100) By Aude Lagorce
LONDON (MarketWatch) -- Morgan Stanley upgraded chipmaker Infineon Technologies AG (DE:623100) (IFX) to equal-weight from underweight, citing the company's potential for structural change. The broker told clients that disappointing DRAM fundamentals may spur a strategic change at the company. "A joint-venture or possible spin-out of the DRAM operations were all possibilities discussed by the previous CEO and have been reviewed in recent press articles," Morgan Stanley said.