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Before the Bell: Intel, Chip Makers Rise

Thursday, July 31, 2003 7:53 a.m. ET


NEW YORK (Reuters) - Intel Corp. <INTC.O> and other semiconductor makers climbed before the opening bell on Thursday after a bullish brokerage call on the chip sector.

Merrill Lynch early on Thursday said it was "shifting stance on the semiconductor business from our neutral position to a more positive outlook."

Intel, the world's largest maker of computer chips, rose to $24.70 before the open after closing at $24.49.

Merrill also upgraded chip makers Intersil Corp. <ISIL.O>, Linear Technology Corp. <LLTC.O>, Maxim Integrated Products Inc. <MXIM.O>, Microchip Technology Inc. <MCHP.O>, National Semiconductor Corp. <NSM.N> and Semtech Corp. <SMTC.O> to "buy" from "neutral."

Intersil headed up to $24.20 before the open after closing at $23.06. Linear Technology rose to $35.70 after finishing at $35.21. National Semiconductor jumped to $21.20 before the open after ending at $20.76.



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