Cutting Forecast for Flextronics

S&P revises earnings estimates for Broadwing and others

Company: Flextronics (FLEX )

Year ending: Mar-03

Prior estimate: 0.65

New estimate: 0.40

Rationale: Persisent end-market weakness

Company: Schulman (SHLM )

Year ending: Aug-03

Prior estimate: 0.70

New estimate: 0.90

Rationale: Better than expected second quarter

Company: St. Paul Cos. (SPC )

Year ending: Dec-02

Prior estimate: 3.25

New estimate: 1.60

Rationale: Impact from asbestos settlement

JUNE 3

Company: Broadwing (BRW )

Year ending: Dec-02

Prior estimate: d0.76

New estimate: d0.90

Rationale: Weaker demand for broadband services

MAY 30

Company: Credence Systems (CMOS )

Year ending: Oct-02

Prior estimate: d0.95

New estimate: d1.16

Rationale: Company guidance

Company: Neiman Marcus (NMG.A )

Year ending: Jul-03

Prior estimate: 2.20

New estimate: 2.50

Rationale: Improving outlook for luxury retailers

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