Markets & Finance

Lower Forecast for McDATA


Company: FirstMerit (FMER)

Year ending: Dec-2003

Prior estimate: 1.79

New estimate: 1.56

Rationale: Charges related to repayment of debt

Company: Forest Oil (FST)

Year ending: Dec-2004

Prior estimate: 1.56

New estimate: 1.82

Rationale: Updated oil & gas prices; 3Q call

Company: McDATA (MCDTA)

Year ending: Jan-2004

Prior estimate: .26

New estimate: .18

Rationale: Intensifying competitive pressures

Company: Navistar (NAV)

Year ending: Oct-2004

Prior estimate: 2.60

New estimate: 2.02

Rationale: Tax rate assumptions

Dec. 1

Company: Safeway Inc (SWY)

Year ending: Dec-2003

Prior estimate: 2.30

New estimate: 2.05

Rationale: Pricing competition; labor costs

Company: Schering-Plough (SGP)

Year ending: Dec-2004

Prior estimate: .35

New estimate: .25

Rationale: See worse generic erosion

Nov. 26

Company: Kerr-McGee (KMG)

Year ending: Dec-2004

Prior estimate: 2.53

New estimate: 2.87

Rationale: Conference call; updated oil & gas prices


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