Markets & Finance

Lower Forecast for Ford


Company: Brocade Communications (BRCD)

Year ending: Oct-03

Prior estimate: 0.47

New estimate: 0.34

Rationale: Persistent weakness in end-markets

Company: Checkpoint Systems (CKP)

Year ending: Dec-03

Prior estimate: 0.76

New estimate: 1.07

Rationale: Margin assumptions

Company: Ford Motor (F)

Year ending: Dec-03

Prior estimate: 1.00

New estimate: 0.56

Rationale: Sees lower 2003 automotive demand

Company: Pride Intl. (PDE)

Year ending: Dec-03

Prior estimate: 0.72

New estimate: 0.62

Rationale: Company conference call

Company: Solutia (SOI)

Year ending: Dec-03

Prior estimate: 1.00

New estimate: 0.75

Rationale: High raw material costs

Company: Teekay Shipping (TK)

Year ending: Dec-03

Prior estimate: 3.54

New estimate: 2.16

Rationale: Low projected charter rates

Oct. 25

Company: Amazon.com (AMZN)

Year ending: Dec-03

Prior estimate: 0.14

New estimate: 0.24

Rationale: Sales gains, absence of restructuring costs

Company: AmeriTrade (AMTD)

Year ending: Sep-03

Prior estimate: 0.22

New estimate: 0.28

Rationale: Likely improvement in sales

Company: Arris Group (ARRS)

Year ending: Dec-03

Prior estimate: 0.45

New estimate: 0.18

Rationale: Lower spending by AT&T broadband

Company: Ascential Software (ASCL)

Year ending: Dec-03

Prior estimate: 0.03

New estimate: -0.05

Rationale: Challenging IT spending environment

Company: Beckman Coulter (BEC)

Year ending: Dec-03

Prior estimate: 2.80

New estimate: 2.45

Rationale: Continued weak markets, gross margin pressure

Company: Cabot Oil & Gas (COG)

Year ending: Dec-03

Prior estimate: 1.40

New estimate: 0.82

Rationale: Updated production forecasts

Company: Electronic Arts (ERTS)

Year ending: Mar-03

Prior estimate: 2.01

New estimate: 2.30

Rationale: Much better than expected second quarter

Company: Flextronics (FLEX)

Year ending: Mar-03

Prior estimate: 0.37

New estimate: 0.31

Rationale: Ongoing weak end-markets

Company: Green Mountain Coffee (GMCR)

Year ending: Sep-03

Prior estimate: 1.00

New estimate: 0.83

Rationale: Growth strategies not working

Company: Navistar Intl. (NAV)

Year ending: Oct-03

Prior estimate: 0.34

New estimate: 0

Rationale: Tax rates, weaker outlook

Company: Silgan Holdings (SLGN)

Year ending: Dec-03

Prior estimate: 3.45

New estimate: 2.90

Rationale: Fine tuning margins, spoke with management

Company: Tecumseh Products (TECUA)

Year ending: Dec-03

Prior estimate: 3.90

New estimate: 3.35

Rationale: Company guidance

Company: Tektronix (TEK)

Year ending: May-03

Prior estimate: 0.55

New estimate: 0.45

Rationale: Soft telecom markets impact demand

Company: Texas Industries (TXI)

Year ending: May-03

Prior estimate: 2.20

New estimate: 1.45

Rationale: Pessimistic outlook

Company: Varian Semiconductor (VSEA)

Year ending: Sep-03

Prior estimate: 0.14

New estimate: 0.24

Rationale: Cost cuts

Company: VeriSign (VRSN)

Year ending: Dec-03

Prior estimate: 0.77

New estimate: 0.61

Rationale: Company guidance

Oct. 24

Company: Affymetrix (AFFX)

Year ending: Dec-03

Prior estimate: 0.41

New estimate: 0.46

Rationale: Sees strong sales

Company: Applera-Celera (CRA)

Year ending: Jun-03

Prior estimate: -1.60

New estimate: -1.40

Rationale: Lower cost estimates

Company: Arrow Electronics (ARW)

Year ending: Dec-03

Prior estimate: 0.70

New estimate: 0.60

Rationale: Sees lower revenue, narrower margin

Company: Avaya (AV)

Year ending: Sep-03

Prior estimate: 0.03

New estimate: -0.04

Rationale: Absence of tax credits

Company: AXT (AXTI)

Year ending: Dec-03

Prior estimate: 0.06

New estimate: -0.42

Rationale: Deterioration in 2 core business lines

Company: BroadVision (BVSN)

Year ending: Dec-03

Prior estimate: -0.27

New estimate: 0.21

Rationale: Stabilized revenue, slashed operating expenses

Company: Celgene (CELG)

Year ending: Dec-03

Prior estimate: 0.20

New estimate: 0.16

Rationale: Higher R&D

Company: Cirrus Logic (CRUS)

Year ending: Mar-03

Prior estimate: -0.34

New estimate: -0.28

Rationale: Sees better expense controls

Company: Foundry Networks (FDRY)

Year ending: Dec-03

Prior estimate: 0.18

New estimate: 0.22

Rationale: Better expense controls

Company: Great A&P (GAP)

Year ending: Feb-03

Prior estimate: -0.22 -

New estimate: -0.56

Rationale: More competition, poor visibility

Company: Harsco (HSC)

Year ending: Dec-03

Prior estimate: 2.80

New estimate: 2.35

Rationale: Pension expense

Company: NCR Corp (NCR)

Year ending: Dec-03

Prior estimate: 2.13

New estimate: 1.67

Rationale: Elimination of pension income benefit

Company: Plexus (PLXS)

Year ending: Sep-03

Prior estimate: 0.45

New estimate: 0.10

Rationale: Continued weak end-market, higher operating expenses

Company: Rayonier (RYN)

Year ending: Dec-03

Prior estimate: 2.60

New estimate: 2.25

Rationale: Wood markets likely to be oversupplied

Company: Roxio (ROXI)

Year ending: Mar-03

Prior estimate: 0.38

New estimate: 0.01

Rationale: Slower revenue growth, lower gross margin

Company: Starwood Hotel (HOT)

Year ending: Dec-03

Prior estimate: 1.35

New estimate: 1.15

Rationale: Company guidance

Company: Sunoco (SUN)

Year ending: Dec-03

Prior estimate: 4.28

New estimate: 3.78

Rationale: Deteriorating refining margins

Company: Vulcan Materials (VMC)

Year ending: Dec-03

Prior estimate: 2.50

New estimate: 2.20

Rationale: Lingering weak demand for aggregates


Later, Baby
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