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

Adams Harkness Trims Cadence Design Rating

Adams Harkness downgraded Cadence Design (CDN) to market perform.

Analyst Dennis Wassung says the chip-equipment maker was forced to lower its 2003 expectations due to a high level of subscription bookings, extended license durations and payment terms, and industry weakness. Wassung says he doesn't see any significant near-term catalysts for the stock. He notes management stated that the semiconductor industry continues to be challenging, and has been discussing limited customer visibility.

Wassung cut the 15 cents fourth quarter earnings per share estimate to two cents, which results in a new 2002 earnings per share estimate of 63 cents. He also cut the 94 cents 2003 earnings per share estimate to 44 cents, and notes that management expects flat bookings for 2003.

blog comments powered by Disqus