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

Bloomberg Customers

Markets & Finance

J.P. Morgan Cuts Pinnacle Systems to 'Neutral'

J.P. Morgan downgraded Pinnacle Systems (PCLE) to neutral from overweight.

Analyst Paul Coster says he's removing the stock from the Focus List. He says the 9 cents pro forma fourth-quarter earnings per share was disappointing vs. his 11 cents estimate and the 10 cents consensus. He notes strong revenues were offset by a mix-driven margin decline of over 350 basis points on the consumer side of the business, and higher-than-expected operating costs.

Coster says guidance was very disappointing despite the positive outlook for overall business. He notes seasonal weakness will combine with a decision to delay the launch of a new version of Studio, causing a steep 17.9% sequential revenue decline. Coster cut the 55 cents fiscal 2004 earnings per share (June) estimate to 29 cents.

blog comments powered by Disqus