Chip-Equipment Book-to-Bill Climbs Above Parity

March's rise in the chip-equipment book-to-bill ratio to above 1.0 -- the first month above parity in more than a year -- further confirmed that the industry is in the midst of a recovery. But stocks enjoyed no upside from Monday's report because it was largely expected by Wall Street.

"The news is good that certainly things are getting better in the industry," Edward White, an analyst at Lehman Brothers, said Tuesday. But "I don't think that came as a major surprise," White said. ...