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KLA-Tencor Lower on Outlook Cut, Downgrade

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KLA-Tencor (KLAC) - Get KLA Corporation Report was down 3.1% in preopen Island trading after Credit Suisse First Boston cut 2001 earnings estimates to $1.81 per share from $2.26. CSFB also lowered its forecasts for other chip-equipment makers: Applied Material (AMAT) - Get Applied Materials, Inc. Report, which was up 0.2%; Lam Research (LRCX) - Get Lam Research Corporation Report, which was down 0.8% and Novellus (NVLS) , which was up 2.7%. In addition, Robertson Stephens downgraded KLA-Tencor to buy from strong buy.

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