Cutting Forecast for Gateway

S&P also changes earnings estimates for Atmel, Halliburton and more

Company: Adaptec Inc. (ADPT )

Year ending: Mar-02

Prior estimate: 0.21

New estimate: 0.27

Rationale: Weak revenues

Company: Atmel Corp. (ATML )

Year ending: Dec-02

Prior estimate: 0.00

New estimate: 0.05

Rationale: Cost cuts

Company: Cirrus Logic (CRUS )

Year ending: Mar-03

Prior estimate: d0.02

New estimate: d0.08

Rationale: Weak demand

Company: Gateway Inc. (GTW )

Year ending: Dec-02

Prior estimate: 0.13

New estimate: d0.10

Rationale: Weak revenues

Company: Halliburton (HAL )

Year ending: Dec-02

Prior estimate: 1.47

New estimate: 1.12

Rationale: Sluggish demand for drilling

Company: Helmerich & Payne (HP )

Year ending: Sep-02

Prior estimate: 1.61

New estimate: 1.46

Rationale: Weaker gas drilling market

Company: Ocean Energy (OEI )

Year ending: Dec-02

Prior estimate: 0.90

New estimate: 0.66

Rationale: Weaker commodity prices

Company: PMC-Sierra (PMCS )

Year ending: Dec-02

Prior estimate: d0.20

New estimate: d0.25

Rationale: Soft communication chip market

Company: Sanmina-SCI (SANM )

Year ending: Sep-02

Prior estimate: 0.65

New estimate: 0.25

Rationale: Reflects near-term end market weakness

Company: Sealed Air (SEE )

Year ending: Dec-02

Prior estimate: 1.95

New estimate: 2.47

Rationale: Elimination of goodwill amortization

Company: ST Microelectronics (STM )

Year ending: Dec-02

Prior estimate: 0.60

New estimate: 0.52

Rationale: Weak pricing

Company: Worthington Industries (WOR )

Year ending: May-02

Prior estimate: 0.65

New estimate: Nil

Rationale: Reflects third quarter restructuring charge

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