Higher Forecast for Amazon.com

S&P revises earnings estimates for Nortel and many others

Jan. 24

Company: Adaptec (ADPT )

Year ending: Mar-04

Prior estimate: 0.30

New estimate: 0.22

Rationale: See lower gross margins

Company: Amazon.com (AMZN )

Year ending: Dec-03

Prior estimate: 0.24

New estimate: 0.30

Rationale: Company guidance

Company: Atmel (ATML )

Year ending: Dec-03

Prior estimate: 0.05

New estimate: -0.05

Rationale: Still restructuring; modest demand

Company: Axcelis Technology (ACLS )

Year ending: Dec-03

Prior estimate: -0.02

New estimate: -0.16

Rationale: Company guidance

Company: CMS Energy (CMS )

Year ending: Dec-03

Prior estimate: 1.40

New estimate: 0.85

Rationale: Company lowered guidance

Company: Dime Community Bancshares (DCOM )

Year ending: Jun-03

Prior estimate: 1.79

New estimate: 1.98

Rationale: Improved guidance; strong fourth quarter of 2002

Company: Integrated Device (IDTI )

Year ending: Mar-04

Prior estimate: 0

New estimate: -0.10

Rationale: Demand remains weak

Company: JDS Uniphase (JDSU )

Year ending: Jun-03

Prior estimate: -0.16

New estimate: -0.19

Rationale: Lower gross margins

Company: Macromedia (MACR )

Year ending: Mar-03

Prior estimate: 0.29

New estimate: 0.41

Rationale: Company guidance, solid third quarter of fiscal year 2003

Company: McDATA (MCDTA )

Year ending: Dec-03

Prior estimate: 0.17

New estimate: 0.14

Rationale: See operating costs rising at faster pace

Company: Nortel Networks (NT )

Year ending: Dec-03

Prior estimate: -0.13

New estimate: -0.03

Rationale: Improved gross margins; cost cuts

Company: Plum Creek (PCL )

Year ending: Dec-03

Prior estimate: 1.35

New estimate: 1.12

Rationale: See weaker lumber, wood products markets

Company: Robert Half (RHI )

Year ending: Dec-03

Prior estimate: 0.25

New estimate: 0.05

Rationale: Business is still showing no signs of recovery

Company: RSA Security (RSAS )

Year ending: Dec-03

Prior estimate: 0.10

New estimate: 0.08

Rationale: Weaker outlook

Company: Sunoco (SUN )

Year ending: Dec-03

Prior estimate: 3.78

New estimate: 3.36

Rationale: Lower refining, marketing margins

Company: Varian Semiconductor (VSEA )

Year ending: Sep-03

Prior estimate: 0.27

New estimate: 0.51

Rationale: Company guidance, improved operating EPS

Company: VeriSign (VRSN )

Year ending: Dec-03

Prior estimate: 0.61

New estimate: 0.52

Rationale: Company guidance

Company: Western Digital (WDC )

Year ending: Jun-03

Prior estimate: 0.50

New estimate: 0.85

Rationale: Improving demand, ASPs, product mix

Jan. 23

Company: Agere Systems (AGR.B )

Year ending: Sep-03

Prior estimate: -0.20

New estimate: -0.18

Rationale: Weak markets, substantial debt

Company: America West (AWA )

Year ending: Dec-03

Prior estimate: -1.72

New estimate: -1.50

Rationale: Better business mix; costs down nicely

Company: Applera-Celera (CRA )

Year ending: Jun-03

Prior estimate: -1.40

New estimate: -1.19

Rationale: See lower costs, higher tax benefits

Company: BMC Software (BMC )

Year ending: Mar-04

Prior estimate: 0.42

New estimate: 0.52

Rationale: Acquisition of Remedy

Company: Boise Cascade (BCC )

Year ending: Dec-03

Prior estimate: 1.50

New estimate: 0.70

Rationale: Weak building products; higher costs

Company: Burlington Resources (BR )

Year ending: Dec-03

Prior estimate: 1.77

New estimate: 3.58

Rationale: See higher production, oil & gas prices

Company: Cabot Microelectronics (CCMP )

Year ending: Sep-03

Prior estimate: 2.06

New estimate: 1.55

Rationale: Customer price concession demands

Company: Cirrus Logic (CRUS )

Year ending: Mar-04

Prior estimate: 0.04

New estimate: -0.10

Rationale: Weaker outlook

Company: Computer Associates (CA )

Year ending: Mar-04

Prior estimate: 0.23

New estimate: 0.26

Rationale: Solid first quarter fiscal year 2003 results

Company: Cypress Semiconductor (CY )

Year ending: Dec-03

Prior estimate: -0.07

New estimate: -0.05

Rationale: Cost cutting through restructure

Company: Cytec Industries (CYT )

Year ending: Dec-03

Prior estimate: 1.80

New estimate: 2.10

Rationale: Company guidance, growth in chemical units

Company: EMC Corp (EMC )

Year ending: Dec-03

Prior estimate: 0.02

New estimate: 0.10

Rationale: Improving demand; cost cutting

Company: Helmerich & Payne (HP )

Year ending: Sep-03

Prior estimate: 0.98

New estimate: 0.21

Rationale: First-quarter EPS; conference call

Company: LSI Logic (LSI )

Year ending: Dec-03

Prior estimate: 0.25

New estimate: -0.10

Rationale: Company guidance

Company: NCR Corp (NCR )

Year ending: Dec-03

Prior estimate: 1.67

New estimate: 0.39

Rationale: Pension, restructuring charges

Company: Networks Associates (NET )

Year ending: Dec-03

Prior estimate: 0.62

New estimate: 0.71

Rationale: Better outlook, fourth-quarter results

Company: Packaging Corp (PKG )

Year ending: Dec-03

Prior estimate: 1.20

New estimate: 0.85

Rationale: Company guidance

Company: QUALCOMM Inc (QCOM )

Year ending: Sep-03

Prior estimate: 1.23

New estimate: 1.40

Rationale: Company guidance

Company: Reader's Digest (RDA )

Year ending: Jun-03

Prior estimate: 1.29

New estimate: 1.11

Rationale: Company guidance, softening European sales

Company: Robert Mondavi (MOND )

Year ending: Jun-03

Prior estimate: 2.60

New estimate: 2.33

Rationale: Oversupply of grapes; soft economy

Company: Roxio Inc (ROXI )

Year ending: Mar-04

Prior estimate: 0.33

New estimate: 0.29

Rationale: Lower revenues seen

Company: Tellabs (TLAB )

Year ending: Dec-03

Prior estimate: -0.04

New estimate: -0.17

Rationale: Worse than usual seasonal decline

Company: Texas Instruments (TXN )

Year ending: Dec-03

Prior estimate: 0.35

New estimate: 0.40

Rationale: Company guidance; lower cost structure

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