Cutting Estimate for Xerox

S&P revises earnings forecasts for Midway Games and others

Company: Aspen Technology (AZPN )

Year ending: Jun-03

Prior estimate: 0.55

New estimate: 0.40

Rationale: Lower than expected revenues

Company: Mentor Graphics (MENT )

Year ending: Dec-02

Prior estimate: 1.21

New estimate: 0.16

Rationale: Lower than expected revenues

Company: Midway Games (MWY )

Year ending: Jun-03

Prior estimate: 1.06

New estimate: 0.82

Rationale: Delay in production schedule

Company: Quanta Services (PWR )

Year ending: Dec-02

Prior estimate: 0.90

New estimate: 0.30

Rationale: Weak telecom, CATV markets

Company: Tractor Supply (TSCO )

Year ending: Dec-02

Prior estimate: 2.67

New estimate: 3.15

Rationale: Quick acquired property conversion

Company: Xerox (XRX )

Year ending: Dec-02

Prior estimate: 0.25

New estimate: 0.06

Rationale: Revenue shift regarding SEC investigation

JULY 3

Company: Advanced Micro Devices (AMD )

Year ending: Dec-02

Prior estimate: -0.60

New estimate: -0.75

Rationale: Continued weakness in the PC market

Company: Aspect Communications (ASPT )

Year ending: Dec-02

Prior estimate: -0.25

New estimate: -0.32

Rationale: Continued IT spending slowdown

Company: Compuware (CPWR )

Year ending: Mar-02

Prior estimate: 0.42

New estimate: 0.32

Rationale: Disappointing June quarter

Company: i2 Technologies (ITWO )

Year ending: Dec-02

Prior estimate: -0.22

New estimate: -0.27

Rationale: Weaker than expected second quarter results

Company: Openwave Systems (OPWV )

Year ending: Jun-03

Prior estimate: -0.02

New estimate: -0.33

Rationale: Weak demand for wireless telecom technology

Company: Polycom (PLCM )

Year ending: Dec-02

Prior estimate: 0.92

New estimate: 0.60

Rationale: Weak spending environment

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