Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

CIBC World Cuts BEA Systems to 'Hold'


CIBC World downgraded BEA Systems (BEAS)to hold from buy.

Analyst John DiFucci says he downgraded BEA because he sees no near term catalyst for the company, coupled with a deteriorating implementation cycle. He does not expect any meaningful improvement from product upgrades and releases, or from adjacent markets. DiFucci says his current $0.05 vs. $0.08 first quarter earnings per share estimate probably is on track. However, he cut the $0.30 fiscal 2003 (Jan.) EPS estimate to $0.26, and trimmed the $969 million fiscal 2003 revenue estimate to $927 million; and trimmed the $0.37 fiscal 204 EPS to $0.32, and lowered the $1.1 billion 2004 revenue estimate to $1.0 billion.

DiFucci says he cut his estimates on the belief that the company is unlikely to hit its former numbers barring any meaningful uptick in the IT spending environment, which appears doubtful.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus