Markets & Finance

Goldman Sachs Cuts Seibel and Oracle Estimates

Goldman Sachs cuts estimates for Siebel Systems (SEBL) and Oracle (ORCL).

Analyst Rick Sherlund says the software business is likely to continue to worsen. He says estimating results has been like catching a falling knife this year, and he doesn't believe the Street's estimates yet capture the magnitude of capital spending constraints going into 2002, particularly considering the anecdotal data coming out of Europe.

Sherlun cut Seibel's 2001 EPS estimate to $0.56 and cut the 2002 EPS estimate to $0.60. For Oracle, he sees $0.46 fiscal 2002 (May) EPS. Sherlund put Seibel on Goldman's recommended list, but rates Oracle as market outperform.

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