Lower Forecast for Corning

S&P revises earnings estimates for Nortel Networks and others

Company: Corning (GLW )

Year ending: Dec-02

Prior estimate: d0.29

New estimate: d0.38

Rationale: Weak telecom spending

Company: Nortel Networks (NT )

Year ending: Dec-02

Prior estimate: d0.29

New estimate: d0.36

Rationale: Weak telecom spending market

Company: ONI Systems (ONIS )

Year ending: Dec-02

Prior estimate: NA

New estimate: d0.56

Rationale: Weak telecom spending environment

Company: Research in Motion (RIMM )

Year ending: Feb-03

Prior estimate: d0.08

New estimate: d0.41

Rationale: Lower than expected revenues

Company: Tellabs (TLAB )

Year ending: Dec-02

Prior estimate: 0.22

New estimate: 0.18

Rationale: Weak telecom spending market

APR. 9

Company: Arris Group (ARRS )

Year ending: Dec-02

Prior estimate: 0.18

New estimate: 0.29

Rationale: Improved demand for cable telephony

Company: JNI Corp. (JNIC )

Year ending: Dec-02

Prior estimate: d0.15

New estimate: d0.35

Rationale: Slower turnaround in demand

Company: Roadway Corp. (ROAD )

Year ending: Dec-02

Prior estimate: 2.75

New estimate: 2.01

Rationale: Weak first quarter

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