Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

CS First Boston Cuts Tellabs Rating

CS First Boston downgraded Tellabs (TLAB) to hold from buy.

Analyst James Parmelee says the preannouncement is not surprising in the context of sector weakness; his cautious comments following the SUPERCOMM industry conference on June 6; and his estimate cuts on June 15. However, he says the magnitude of the revenue shortfall still is more dramatic than his previous view.

Parmelee downgraded the shares pending improved sales visibility as well as more significant evidence of the company's successful new product ramp. He cut the $1.20 2001 EPS on $3.2 billion sales to $0.40 on $2.3 billion sales, and cut the $1.30 2002 EPS on $3.5 billion in sales to $0.70 on $2.5 billion in sales.

blog comments powered by Disqus