Shares of the chip equipment makers were flying high in midday trading after

Novellus

(NVLS)

said yesterday it beat analysts' earnings expectations and

Intel

(INTC) - Get Report

disclosed plans to boost its capital spending.

Applied Materials

(AMAT) - Get Report

was up $4.56, or 10.3%, to $49, and Novellus gained $6.13, or 15.8%, to $44.88 in recent

Nasdaq

trading.

Teradyne

(TER) - Get Report

, which yesterday reported earnings that

missed estimates by a penny, leaped $3, or 8.2%, to $39.69 in recent

New York Stock Exchange

trading, and

PMC Sierra

(PMCS)

soared $16.31, or 20.4%, to $96.31 on the Nasdaq.

KLA-Tencor

(KLAC) - Get Report

, which is set to report earnings today, rose $7.31, or 19.7%, to $44.50, and

Lam Research

(LRCX) - Get Report

jumped $3.19, or 15.8%, to $23.38, also on the Nasdaq.