Markets & Finance

Raising Forecast for Hovnanian


Company: Hovnanian (HOV)

Year ending: Oct-2004

Prior estimate: 7.50

New estimate: 8.55

Rationale: Company guidance, recent outperformance

Company: Kerr-McGee (KMG)

Year ending: Dec-2003

Prior estimate: 4.07

New estimate: 3.26

Rationale: Updated oil & gas prices

Company: National Semiconductor (NSM)

Year ending: May-2004

Prior estimate: .77

New estimate: 1.00

Rationale: Higher gross margins

Company: Payless Shoesource (PSS)

Year ending: Jan-2004

Prior estimate: .64

New estimate: .57

Rationale: Lower same store sales, margins

Sep. 3

Company: Amkor Technology (AMKR)

Dec-2003

Prior estimate: -.35

New estimate: -.25

Rationale: Improving sales, factory usage

Company: Millennium (MCH)

Year ending: Dec-2003

Prior estimate: -1.30

New estimate: -.90

Rationale: Accounting restatements

Company: Qwest Communications (Q)

Year ending: Dec-2003

Prior estimate: -.36

New estimate: -.32

Rationale: Expected cost controls

Company: Wellman (WLM)

Year ending: Dec-2003

Prior estimate: .95

New estimate: .45

Rationale: Higher feedstock costs

Sep. 2

Company: Boeing Co (BA)

Year ending: Dec-2003

Prior estimate: 2.00

New estimate: -.24

Rationale: $1.1 billion restructuring charge, asset writedown

Company: Integrated Device (IDTI)

Year ending: Mar-2004

Prior estimate: -.06

New estimate: -.03

Rationale: Company guidance; cost reductions

Company: Murphy Oil (MUR)

Year ending: Dec-2003

Prior estimate: 2.83

New estimate: 3.34

Rationale: Updated oil & gas prices

Aug. 28

Company: Interpublic Group (IPG)

Year ending: Dec-2003

Prior estimate: .02

New estimate: .15

Rationale: Smaller than expected restructure changes

Company: LTX Corp (LTXX)

Year ending: Jul-2004

Prior estimate: -.28

New estimate: -.25

Rationale: Improving order rates


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