FEBRUARY 4, 2005
Advice from Standard and Poors
EPS CHANGES

Royal Dutch Estimate Lowered
Plus analyst actions on Maxtor, Comcast, Google, and more

Date Company Sym FY-End Prior New Comment
           
           
2/4/2005 Annaly Mortgag NLY Dec-05 2.2 1.97 Rising interest rates
  Axcelis Techn ACLS Dec-05 0.78 0.36 Lower than expected forward guidance
  Borg Warner BWA Dec-05 4.15 4.6 Modestly rising operating margins
  Cytokinetics CYTK Dec-05 -1.61 -1.87 Lower revenues, higher costs
  Frontier Airl FRNT Mar-06 0.2 -0.3 Reflects yield environmnt & fuel costs
  Hitachi,Ltd AD HIT Mar-05 2.9 1.35 Ongoing pricing pressures
  KT Corp ADS KTC Dec-05 2 2.25 Stronger than expected Q4 results
  Matsushita El I MC Mar-06 0.46 0.2 Higher restructuring costs
  Maxtor Corp MXO Dec-05 -0.08 -0.34 Weaker than expected Q4
  Royal Dutch Pet RD Dec-05 5.45 4.79 Updated price & margin projections
  Telefonos de M TMX Dec-05 3.5 3.9 Latin American growth, cost cuts
  Visteon Corp VC Dec-05 0.06 -0.5 Lowering vehicle production estimates
           
           
           
2/3/2005 Alcatel ADS ALA Dec-05 0.96 0.75 Slower growth expected in '05
  Amer Axle & Ma AXL Dec-05 3.75 2.46 Rising raw materials expenses
  Aztar Corp AZR Dec-05 1.95 1.75 Weaker than expected Q4
  Comcast Cl'A CMCSA Dec-05 0.67 0.54 Revised operating outlook
  Comcast'A' CMCSK Dec-05 0.67 0.54 Revised operating outlook
  EOG Resources EOG Dec-05 5.2 5.94 Higer than expected production volumes
  Equity Office EOP Dec-05 0.96 0.8 Decling rental rates
  FEI Co FEIC Dec-05 1.05 0.84 Lower than expected guidance
  Hunt(J.B.)Tra JBHT Dec-05 2.35 2.58 Continuing strong freight demand
  MedImmune MEDI Dec-05 0.55 0.38 Higher than expected costs
  Power-One PWER Dec-05 0.1 -0.09 Higher costs assupmtions
  ProLogis PLD Dec-05 1.28 1.5 Improving fundamentals
  Pulte Homes PHM Dec-05 8.5 9.4 Improving fundamentals
  Tecumseh Pro TECUA Dec-05 2.6 2.15 Rising costs of raw materials
           
           
           
2/2/2005 Advent Softwa ADVS Dec-05 0.23 0.28 Reflects guidance
  Allied Waste In AW Dec-05 0.65 0.5 Lower than expected margins
  Commercial Net NNN Dec-05 1.18 1.33 Higher sales, lower expenses projectns
  Deutsche Bank A DB Dec-05 7.36 8.52 Currency fluctuations
  Ferrellgas Par FGP Jul-05 0.95 0.85 Higher product costs
  Google Inc'A' GOOG Dec-05 3.7 4.17 Favorable Q4 results
  Greenhill & Co GHL Dec-05 1.3 1.5 Higher financial advisory fees
  Helix Technol HELX Dec-05 0.4 0.53 Post EPS results, corporate guidance
  Intl Paper IP Dec-05 2.59 2.08 Higher corp expenses & raw matrl costs
  LTX Corp LTXX Jul-05 -0.57 -0.87 Lower than expected Q2 guidance
  Maytag Corp MYG Dec-05 1.38 1.16 Expected market share loss in '05
  THQ Inc THQI Dec-05 1.05 1.32 More diversifed product library
  Valero Energy VLO Dec-05 5.41 7.19 Revised margin & tax assumptions
  Vodafone Group VOD Mar-05 1.65 2.03 Currency adjustments
           
           
           
2/1/2005 Alliance Gamin AGI Jun-05 0.05 0.2 Better than expected Q2 EPS
  Brilliance Chi CBA Dec-05 1.05 -0.24 Continuing declines in sales
  Greater Bay B GBBK Dec-05 1.95 1.74 Worse than expected Q4 results
  Plum Creek Tim PCL Dec-05 1.3 1.45 Stronger pricing, volume assumption
  Ryanair Hold RYAAY Mar-05 1.76 2 Better EPS outlook
           
           
           
1/31/2005 AMIS Holdings AMIS Dec-05 0.8 0.67 Lowering 2005 growth expectations
  ChevronTexaco CVX Dec-05 5.01 5.75 Q4 EPS; price & margin projections
  Dr. Reddy's RDY Mar-05 0.5 0.23 Slowing sales growth, rising R&D costs
  Electro Scien ESIO May-05 1.16 0.76 Weakened semicndtr equip demand
  Exxon Mobil XOM Dec-05 3.66 4.51 Q4 EPS; updated price & margin ests
  Sappi Ltd ADS SPP Sep-05 1.05 0.83 Less aggressive N/T growth assumptions
  SIRVA Inc SIR Dec-05 1.26 0.92 Uncertainties about growth strategy
  Tyson Foods TSN Sep-05 1.35 1.15 Difficult near-term environment





All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report.
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