Markets & Finance

Trimming Estimate for Gap


Nov. 27

Company: Comverse Technology (CMVT)

Year ending: Jan-04

Prior estimate: -0.24

New estimate: -0.12

Rationale: Higher cost cutting

Company: Equity Resident (EQR)

Year ending: Dec-03

Prior estimate: 1.06

New estimate: 0.72

Rationale: Detriorating fundamentals

Company: Gap (GPS)

Year ending: Jan-04

Prior estimate: 0.67

New estimate: 0.58

Rationale: More tempered near term outlook

Nov. 26

Company: ADVANTA (ADVNA)

Year ending: Dec-04

Prior estimate: 1.75

New estimate: 1.40

Rationale: Weaker credit quality

Company: Corning (GLW)

Year ending: Dec-03

Prior estimate: -0.03

New estimate: -0.11

Rationale: Weaker telecom market

Company: Semtech (SMTC)

Year ending: Jan-04

Year ending: 0.72

Prior estimate: 0.53

New estimate: Lower revenue forecast

Nov. 25

Company: TXU Corp (TXU)

Year ending: Dec-03

Prior estimate: 2.55

New estimate: 2.00

Rationale: New equity issues; higher interest expense

Company: US Cellular (USM)

Year ending: Dec-03

Prior estimate: 2.27

New estimate: 1.68

Rationale: Higher selling, depreciation costs from acquisition


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