Markets & Finance

Lower Forecast for MedImmune


Company: Intuitive Surgical (ISRG)

Year ending: Dec-2004

Prior estimate: .20

New estimate: .24

Rationale: Better prospects

Company: JLG Industries (JLG)

Year ending: Jul-2004

Prior estimate: .60

New estimate: .71

Rationale: Changed margin assumptions

Company: McDermott International (MDR)

Year ending: Dec-2003

Prior estimate: .55

New estimate: .40

Rationale: Project delays

Company: MedImmune (MEDI)

Year ending: Dec-2004

Prior estimate: .98

New estimate: .61

Rationale: Lower sales expectations, margins

Company: National Semiconductor (NSM)

Year ending: May-2004

Prior estimate: 1.09

New estimate: 1.43

Rationale: Improving semiconductor industry

Company: Placer Dome (PDG)

Year ending: Dec-2004

Prior estimate: .53

New estimate: .70

Rationale: Better margins; copper and gold prices

Company: Sepracor (SEPR)

Year ending: Dec-2004

Prior estimate: -1.95

New estimate: -2.15

Rationale: Estorra insomnia drug

Company: Universal Health (UHS)

Year ending: Dec-2004

Prior estimate: 3.48

New estimate: 2.90

Rationale: Overhiring; bad debt expense

Feb. 27

Company: Calpine Corp (CPN)

Year ending: Dec-2004

Prior estimate: .07

New estimate: -.05

Rationale: Fourth quarter results; company guidance

Company: Integrated Device Technology (IDTI)

Year ending: Mar-2005

Prior estimate: .35

New estimate: .45

Rationale: Stronger industry conditions

Company: McDATA (MCDTA)

Year ending: Jan-2005

Prior estimate: .08

New estimate: .13

Rationale: Favorable demand trends; execution

Company: Pride International (PDE)

Year ending: Dec-2004

Prior estimate: .75

New estimate: .18

Rationale: Updated company guidance

Company: Protein Design Labs (PDLI)

Year ending: Dec-2004

Prior estimate: -.49

New estimate: -.77

Rationale: R&D ramp

Company: Quanex Corp (NX)

Year ending: Oct-2004

Prior estimate: 2.90

New estimate: 2.40

Rationale: Rising scrap costs

Company: SEACOR SMIT (CKH)

Year ending: Dec-2004

Prior estimate: 1.44

New estimate: .74

Rationale: Higher costs

Company: Sepracor Inc (SEPR)

Year ending: Dec-2004

Prior estimate: -.80

New estimate: -1.95

Rationale: More new product costs than expected

Company: SPX Corp (SPW)

Year ending: Dec-2004

Prior estimate: 3.89

New estimate: 3.48

Rationale: Cutting revenue and margin forecasts

Company: Triumph Group (TGI)

Year ending: Mar-2005

Prior estimate: 2.56

New estimate: 2.10

Rationale: Turbines sales cancelations

Feb. 26

Company: Andrx Corp (ADRX)

Year ending: Dec-2004

Prior estimate: 1.10

New estimate: 1.25

Rationale: New management; pipeline

Company: Comcast (CMCSK)

Year ending: Dec-2004

Prior estimate: .27

New estimate: .40

Rationale: Better prospects

Company: Darden Restaurants (DRI)

Year ending: May-2004

Prior estimate: 1.33

New estimate: 1.50

Rationale: Better same-store sales

Company: Federal Signal (FSS)

Year ending: Dec-2004

Prior estimate: 1.07

New estimate: .93

Rationale: Changed margin assumptions

Company: Mediacom Communications (MCCC)

Year ending: Dec-2004

Prior estimate: -.39

New estimate: -.09

Rationale: Lower costs

Company: Teekay Shipping (TK)

Year ending: Dec-2004

Prior estimate: 4.25

New estimate: 8.20

Rationale: Very strong charter rate environment

Company: Tekelec (TKLC)

Year ending: Dec-2004

Prior estimate: .42

New estimate: .36

Rationale: Proposed Tacqua acquisition

Company: Trinity Industries (TRN)

Year ending: Dec-2004

Prior estimate: 1.25

New estimate: .95

Rationale: See margins hurt by high steel prices

Feb. 25

Company: Cal Dive International (CDIS)

Year ending: Dec-2004

Prior estimate: 1.89

New estimate: 1.66

Rationale: Updated production forecasts

Company: Dobson Communications (DCEL)

Year ending: Dec-2004

Prior estimate: .20

New estimate: -.35

Rationale: Less roaming revenues from large carriers

Company: Goodyear Tire (GT)

Year ending: Dec-2004

Prior estimate: .03

New estimate: -.03

Rationale: Reduced profitability expectations

Company: Highwoods Properties (HIW)

Year ending: Dec-2004

Prior estimate: .00

New estimate: -.14

Rationale: Weaker outlook

Company: Semtech Corp (SMTC)

Year ending: Jan-2005

Prior estimate: .62

New estimate: .69

Rationale: Rising orders

Feb. 24

Company: Delta Air Line (DAL)

Year ending: Dec-2004

Prior estimate: -3.00

New estimate: -3.75

Rationale: Weaker outlook

Company: FelCor Lodging (FCH)

Year ending: Dec-2004

Prior estimate: -1.10

New estimate: -1.37

Rationale: Dilution from assets sales

Company: Navistar International (NAV)

Year ending: Oct-2004

Prior estimate: 2.02

New estimate: 2.61

Rationale: Margin, top-line growth assumptions

Company: Nextel Partners (NXTP)

Year ending: Dec-2004

Prior estimate: .17

New estimate: .25

Rationale: Operating leverage; strong outlook

Company: Synopsys Inc (SNPS)

Year ending: Oct-2004

Prior estimate: 1.55

New estimate: 1.38

Rationale: Company guidance; cautious customers

Feb. 23

Company: Allied Capital (ALD)

Year ending: Dec-2004

Prior estimate: 1.79

New estimate: 2.50

Rationale: Higher net interest, net gains

Company: Electronic Data Systems (EDS)

Year ending: Dec-2004

Prior estimate: 1.08

New estimate: .57

Rationale: Contract revisions

Company: QUALCOMM Inc (QCOM)

Year ending: Sep-2004

Prior estimate: 1.52

New estimate: 1.75

Rationale: Company guidance

Company: Swift Energy (SFY)

Year ending: Dec-2004

Prior estimate: .95

New estimate: 1.05

Rationale: Stronger than expected production

Company: Weingarten Realty (WRI)

Year ending: Dec-2004

Prior estimate: 2.16

New estimate: 1.93

Rationale: Higher interest and depreciation


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