As noted earlier this week in my article “Inventory in Semiconductors Looking Lean” most of it has improved with the exception of hardware OEMs. Within that classification one of the sub-sectors that has done little to improve its inventory position over the last year has been the wafer fab equipment (WFE) companies -- KLA-Tencor (KLAC) Applied Materials (AMAT) and  Novellus Systems (NVLS) for example.For a number of years the rapid expansion of memory-production capacity had been a major catalyst for growth for WFE companies frequently driving more than 50% of the topline. However with the recognition of over capacity ...

The tech sector dips in early activity, as shares of McAfee Inc. plummet a day after the security-software company posts a drop in third-quarter earnings.

Among the companies whose shares are expected to see active trade in Friday's session are Chevron Corp., Duke Energy Corp., and NYSE Euronext Inc.

KLA-Tencor Corp. posts a higher fiscal first-quarter profit, aided by what Chief Executive Rick Wallace says was "a sharp increase in demand from foundry customers."

Investors in the late-trading session will look for higher earnings from security-software firm McAfee, while Wall Street projects a slide in earnings at chip-equipment maker KLA-Tencor.

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Ridgewater Equity (RWE).

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by AnalystChoice.com (AC).