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Texaco Trumps Estimates

Texaco (TX) posted $1.50 vs. $1.17 Q2 EPS from operations on a 12% revenue


Ticketmaster (TMCS) posted $0.14 Q2 cash EPS vs. a $0.02 loss on a 13% revenue rise. The company posted $27.3M Q2 EBITDA vs. $13.7M. S&P reiterates accumulate. Prudential raised estimates.

DuPont (DD) posted $0.41 vs. $0.90 Q2 EPS from operations on lower volumes, higher raw material costs, and 12% lower sales. DuPoint Does not think Q2 is the market bottom of the economic downturn, and sees conditions deteriorating into Q3.

CEC Entertainmnt (CEC) posted $0.43 vs. $0.44 Q2 EPS on slightly lower same store sales, and 6.6% higher total sales, and cut the 20001 EPS guidance to $2.21-$2.24. Banc of America downgraded to market perform from buy.

Qlogic Corp. (QLGC) posted $0.23 vs. $0.21 Q1 EPS on a 19% revenue rise. Dain Rauscher cut estimates. CIBC World cut the target.

Dollar Tree (DLTR) posted $0.19 vs. $0.22 Q2 EPS. DB Alex Brown

downgraded to market perform from buy.

Peregrine Systems (PRGN) posted $0.12 vs. $0.10 Q1 EPS on a 82% revenue rise S&P maintains accumulate. CIBC World maintains strong buy.

Robertson Stephens upgraded AT&T Wireless (AWE) to strong buy, abd raised

his target to $21. S&P maintains hold. Tuesday the company

posted a $0.02 Q2 loss, and 37% higher Q2 total revenue.

Cymer Inc. (CYMI) posted better than expected $0.15 vs. $0.15 Q2 EPS on on 18% lower sales, and believes Q3 total revenue will decline by 20%-25% sequentially, but could potentially

decline by as much as 25%-30%.

AT&T Corp. (T) is looking to fend off an unsolicitied suitor for its cable TV business and its in preliminary talks with AOL Time Warner about a friendly deal to merge their cable operations: Wall Street Journal.

Peoplesoft (PSFT) posted $0.14 vs. $0.06 Q2 EPS (recurring operations) on a 27%

revenue rise. S&P maintains hold.

Xerox (XRX) posted a $0.10 Q2 loss vs. $0.27 EPS from operations on 13% lower revenues. Xerox continues to expect a return to profitability in the second half, but economic environment, normal Q3 seasonality will likely delay this to Q4.

Microsemi (MSCC) posted $0.33 vs. $0.27 Q3 EPS (pro forma) despite flat sales, and expects Q4 sales to "buck the current

trend" of declines among industry peers.

Credence Systems (CMOS) says business across entire automatic test equipment sector appears to be reaching record lows, now sees

$15M-$20M Q3 revenue, and a $0.40-$0.45 loss from operations.

Lam Research (LRCX) posted $0.28 Q4 EPS from operations vs. Q3 's $0.48 on a 21% sequential revenue decline. The company did not provide year ago figures.

CNET Networks (CNET) posted a $15.8M Q2 EBITDA loss vs. a $5.1M EBITDA (pro forma) on a 32% revenue decline. CNET will cut workforce by 15% and sees a Q3 EBITDA loss of $10M-$17M on revenue of $70M-$75M, and a 2001 EBITDA loss of $40M-$55M.

Varian Semiconductor (VSEA) posted $0.08 vs. $0.81 Q3 EPS on 34% lower revenues. S&P maintains hold. CS First Boston cut estimates.

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