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

Bear Stearns Downgrades Gateway

Gateway (GTW) posted 5 cents second-quarter (GAAP basis) earnings per share, vs. 91 cents loss. Bear Stearns downgraded the stock and cut estimates.

Analyst Andrew Neff says the downgrade to underperform from peer perform is based on continued light revenue (the company has yet to hit Street targets which is a key turnaround metric); challenged quality of EPS; reduced 2005 outlook; weak growth prospects for direct business; and lack of compelling valuation, which suggests more downside.

Neff notes that management cut 2005 revenue guidance to $3.9 billion to $4 billion from $4 billion to $4.25 billion, and non-GAAP EPS guidance to 13 cents to 15 cents from 17 cents to 19 cents. Hence, he lowered 2005 EPS estimate to 9 cents from 15 cents, 2006 to 15 cents from 25 cents (non-GAAP), and his target price to $2.60 from $4.10.

blog comments powered by Disqus