Markets & Finance

AMD Loss Estimate Widened


Advanced Micro (AMD)

Year ending: Dec-02

Prior estimate: -0.75

New estimate: -1.25

Rationale: Slow PC demand, mkt share losses

Benchmark Elec (BHE)

Year ending: Dec-02

Prior estimate: 1.15

New estimate: 1.30

Rationale: New program wins

Boise Cascade (BCC)

Year ending: Dec-02

Prior estimate: 0.58

New estimate: 0.30

Rationale: Company guidance

Burlington Reso (BR)

Year ending: Dec-02

Prior estimate: 0.93

New estimate: 1.43

Rationale: Updated guidance, improved prices

Cooper Tire & (CTB)

Year ending: Dec-02

Prior estimate: 1.44

New estimate: 1.67

Rationale: Auto business improving

Cypress Semicon (CY)

Year ending: Dec-02

Prior estimate: -0.10

New estimate: -0.07

Rationale: Posts 3rd straight Q of rev growth

Delta Air Line (DAL)

Year ending: Jun-02

Prior estimate: -4.65

New estimate: -6.79

Rationale: See industry downturn for rest of '02

Digi Intl (DGII)

Year ending: Sep-02

Prior estimate: 0.16

New estimate: 0.07

Rationale: Lowered co. guidance

EMC Corp (EMC)

Year ending: Dec-02

Prior estimate: -0.01

New estimate: -0.04

Rationale: Don't see robust pickup in 2H IT spend

Extreme Netwo (EXTR)

Year ending: Jun-03

Prior estimate: 0.32

New estimate: 0.25

Rationale: Slower rebound in IT spending

Freep't McMoRa (FCX)

Year ending: Dec-02

Prior estimate: 0.60

New estimate: 0.50

Rationale: 2Q production shortfall

Georgia-Pacific (GP)

Year ending: Dec-02

Prior estimate: 1.45

New estimate: 1.60

Rationale: Improvd pricing in some key bus. lines

Intl Paper (IP)

Year ending: Dec-02

Prior estimate: 1.05

New estimate: 1.35

Rationale: Cost improvements, price increases

Millennium Ph (MLNM)

Year ending: Dec-02

Prior estimate: -0.86

New estimate: -1.03

Rationale: Lower contract revs. & interest rates

Potlatch Corp (PCH)

Year ending: Dec-02

Prior estimate: -1.40

New estimate: -1.00

Rationale: Overcapacity in forest products bus.

Rowan Cos (RDC)

Year ending: Dec-02

Prior estimate: 1.06

New estimate: -0.02

Rationale: Co. guidance, updated mkt outlook

Schwab (Charles) (SCH)

Year ending: Dec-02

Prior estimate: 0.31

New estimate: 0.27

Rationale: Reduced sales targets

Siebel System (SEBL)

Year ending: Dec-02

Prior estimate: 0.50

New estimate: 0.38

Rationale: Disappointing 2Q results

Southwest Airl (LUV)

Year ending: Dec-02

Prior estimate: 0.57

New estimate: 0.46

Rationale: Co. sees 3Q profitability below 2Q

Telephone & Data (TDS)

Year ending: Dec-02

Prior estimate: 2.85

New estimate: -14.57

Rationale: Writedown, weakness in wireless

Tetra Tech (TTEK)

Year ending: Sep-02

Prior estimate: 0.70

New estimate: 0.62

Rationale: Weak wireline, wireless coms sectors

July 17

Advent Softwa (ADVS)

Year ending: Dec-02

Prior estimate: 1.07

New estimate: 0.44

Rationale: Stagnant capex env., options expense

AMR Corp (AMR)

Year ending: Dec-02

Prior estimate: -6.46

New estimate: -11.40

Rationale: Yields likely to remain weak

Apple Compute (AAPL)

Year ending: Sep-03

Prior estimate: 0.66

New estimate: 0.42

Rationale: Weak June-Q, company guidance

ATMI Inc (ATMI)

Year ending: Dec-02

Prior estimate: 0.10

New estimate: -0.06

Rationale: Slowing growth in semicond. mfg

Boston Commun (BCGI)

Year ending: Dec-02

Prior estimate: 0.17

New estimate: 0.27

Rationale: Higher mins of use, Cingular contract

i2 Technologi (ITWO)

Year ending: Dec-02

Prior estimate: -0.27

New estimate: -0.45

Rationale: Co.-spec. issues, IT spending slowdown

InFocus Corp (INFS)

Year ending: Dec-02

Prior estimate: -0.12

New estimate: -0.02

Rationale: Higher company guidance

JLG Indus (JLG)

Year ending: Jul-02

Prior estimate: 0.60

New estimate: 0.40

Rationale: Company warning

Kulicke & Sof (KLIC)

Year ending: Sep-02

Prior estimate: -1.04

New estimate: -1.28

Rationale: Slower than expected recovery

Motorola, Inc (MOT)

Year ending: Dec-02

Prior estimate: 0.06

New estimate: 0.14

Rationale: Increased company guidance

RF Micro Devi (RFMD)

Year ending: Mar-03

Prior estimate: 0.13

New estimate: 0.11

Rationale: Wireless handset bus. flattish

Tellabs, Inc (TLAB)

Year ending: Dec-02

Prior estimate: 0.08

New estimate: 0.02

Rationale: Weak telecom spending market

Teradyne Inc (TER)

Year ending: Dec-02

Prior estimate: -1.06

New estimate: -1.17

Rationale: Slower order rates, corp. IT spending

U.S. Cellular (USM)

Year ending: Dec-02

Prior estimate: 1.98

New estimate: 0.72

Rationale: 2Q writedwn, Primeco deal close in 3Q

Ultratech Ste (UTEK)

Year ending: Dec-02

Prior estimate: 0.01

New estimate: -0.38

Rationale: Shares fairly valued

VERITAS Softw (VRTS)

Year ending: Dec-02

Prior estimate: 0.69

New estimate: 0.60

Rationale: Challenging IT spending environment

July 16

Alcan Inc (AL)

Year ending: Dec-02

Prior estimate: 1.90

New estimate: 1.50

Rationale: Reflects 2Q charge

Allergan, Inc (AGN)

Year ending: Dec-02

Prior estimate: 2.30

New estimate: 1.87

Rationale: Reflects spinoff of contact lens bus.

Cox Radio 'A' (CXR)

Year ending: Dec-02

Prior estimate: 0.44

New estimate: 0.50

Rationale: Improved outlook

ICN Pharmaceut (ICN)

Year ending: Dec-02

Prior estimate: 1.72

New estimate: 1.30

Rationale: Lower sales in key drug lines

IVAX Corp (IVX)

Year ending: Dec-02

Prior estimate: 1.05

New estimate: 0.63

Rationale: Incr. competition, prdct appr. delays

John Nuveen 'A (JNC)

Year ending: Dec-02

Prior estimate: 2.52

New estimate: 1.23

Rationale: Growth in sales, AUM.

Koninklijke Phillips (PHG)

Year ending: Dec-02

Prior estimate: 0.49

New estimate: 0.57

Rationale: Higher than expected 2Q EPS

Navistar Intl (NAV)

Year ending: Oct-02

Prior estimate: -0.72

New estimate: -0.98

Rationale: Co. guidance, one-time items

Parametric Te (PMTC)

Year ending: Sep-03

Prior estimate: 0.22

New estimate: 0.08

Rationale: Weaker than expected IT spending

July 15

Avnet, Inc (AVT)

Year ending: Jun-03

Prior estimate: 0.65

New estimate: 0.53

Rationale: Slower revenue growth

Ballard Power (BLDP)

Year ending: Dec-02

Prior estimate: -1.25

New estimate: -1.55

Rationale: Slower than expected sales

Fleetwood Ente (FLE)

Year ending: Apr-02

Prior estimate: 0.30

New estimate: 0.20

Rationale: 4Q loss worse than expected

Genl Communi (GNCMA)

Year ending: Dec-02

Prior estimate: 0.19

New estimate: -0.04

Rationale: Bad debt charge related to WorldCom

Photon Dynami (PHTN)

Year ending: Sep-02

Prior estimate: 1.04

New estimate: 1.21

Rationale: Incr. demand, mfg. undercapacity

United Natura (UNFI)

Year ending: Jul-02

Prior estimate: 1.33

New estimate: 1.19

Rationale: Co. lowers guidance

July 12

Arrow Electron (ARW)

Year ending: Dec-02

Prior estimate: 0.45

New estimate: 0.32

Rationale: Soft PC, electronics markets

Audiovox'A' (VOXX)

Year ending: Nov-02

Prior estimate: -0.10

New estimate: -0.19

Rationale: Weaker operating margins

DoubleClick (DCLK)

Year ending: Dec-02

Prior estimate: 0.12

New estimate: 0.05

Rationale: Weak internet ad environment

Ingersoll-Rand' (IR)

Year ending: Dec-02

Prior estimate: 1.70

New estimate: 2.25

Rationale: Better than expected sales growth

Roper Indus (ROP)

Year ending: Oct-02

Prior estimate: 1.80

New estimate: 2.15

Rationale: Cancellation of 2ndary offering

July 11

Eastman Kodak (EK)

Year ending: Dec-02

Prior estimate: 2.05

New estimate: 2.30

Rationale: Manufacturing improvements

Juniper Netwo (JNPR)

Year ending: Dec-02

Prior estimate: 0.03

New estimate: -0.02

Rationale: Dilution from acquisition

Murphy Oil (MUR)

Year ending: Dec-02

Prior estimate: 2.53

New estimate: 1.21

Rationale: Co. guidance, updated market outlook

VeriSign Inc (VRSN)

Year ending: Dec-02

Prior estimate: 0.92

New estimate: 0.76

Rationale: Q2 preannouncement

VISX Inc (EYE)

Year ending: Dec-02

Prior estimate: 0.47

New estimate: 0.35

Rationale: Projected second half sales decline


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