Higher Forecast for Varian Semiconductor

S&P revises earnings estimates for Applied Materials and others

Aug. 14

Company: Enzon Pharmaceuticals (ENZN )

Year ending: Jun-2004

Prior estimate: 1.16

New estimate: .70

Rationale: Much higher fiscal years 2004 and 2005 tax rates

Company: Reliant Resources (RRI )

Year ending: Dec-2003

Prior estimate: .85

New estimate: .10

Rationale: Missed second quarter, guided lower for the third quarter

Company: Varian Semiconductor (VSEA )

Year ending: Sep-2004

Prior estimate: .63

New estimate: .69

Rationale: Company guidance

Aug. 13

Company: Applied Materials (AMAT )

Year ending: Oct-2004

Prior estimate: .56

New estimate: .48

Rationale: Lower sales

Company: Barrick Gold (ABX )

Year ending: Dec-2003

Prior estimate: .30

New estimate: .35

Rationale: Better than expected second quarter EPS

Company: Circuit City (CC )

Year ending: Feb-2004

Prior estimate: .06

New estimate: .10

Rationale: Bankcard business now discontinued operations

Company: Dynegy Inc (DYN )

Year ending: Dec-2003

Prior estimate: .16

New estimate: .08

Rationale: Company guidance: higher costs

Company: EchoStar Communications (DISH )

Year ending: Dec-2003

Prior estimate: .60

New estimate: .79

Rationale: Better than expected second quarter results

Company: El Paso Corp (EP )

Year ending: Dec-2003

Prior estimate: .77

New estimate: .35

Rationale: Second quarter results, second half company guidance

Company: Fox Entertainment (FOX )

Year ending: Jun-2004

Prior estimate: 1.31

New estimate: 1.16

Rationale: Tough ad comps, higher interest costs

Company: Interpublic Group (IPG )

Year ending: Dec-2003

Prior estimate: .55

New estimate: .02

Rationale: Higher restructuring, other costs

Company: News Corp (NWS )

Year ending: Jun-2004

Prior estimate: .85

New estimate: 1.08

Rationale: See losses from SKY Italia integration

Company: Six Flags (PKS )

Year ending: Dec-2003

Prior estimate: -.35

New estimate: -.61

Rationale: Weak industry outlook; not diversified

Company: Too Inc (TOO )

Year ending: Jan-2004

Prior estimate: 1.30

New estimate: .91

Rationale: Weak sales, see limited catalysts

Aug. 12

Company: Comcast (CMCSK )

Year ending: Dec-2003

Prior estimate: .01

New estimate: .05

Rationale: Slightly improved outlook

Company: Commscope (CTV )

Year ending: Dec-2003

Prior estimate: -.08

New estimate: -.13

Rationale: Higher equity loss from OFS Brightwave

Company: Electro Scientific Industries (ESIOE )

Year ending: May-2004

Prior estimate: -.25

New estimate: .00

Rationale: Lack of attention to operations

Company: McDermott (MDR )

Year ending: Dec-2003

Prior estimate: .10

New estimate: -.60

Rationale: Second quarter results; asbestos settlements

Company: US Steel (X )

Year ending: Dec-2003

Prior estimate: -.35

New estimate: -.22

Rationale: See better third quarter EPS

Aug. 11

Company: Hologic Inc (HOLX )

Year ending: Sep-2004

Prior estimate: .65

New estimate: .50

Rationale: Lower revenue model

Company: Interstate Bakeries (IBC )

Year ending: May-2004

Prior estimate: .90

New estimate: .75

Rationale: Competitive environment

Company: Ohio Casualty (OCAS )

Year ending: Dec-2003

Prior estimate: .80

New estimate: .65

Rationale: Drop in premium, underwriting results

Company: Ultratech (UTEK )

Year ending: Dec-2003

Prior estimate: .30

New estimate: .15

Rationale: Company guidance

Aug. 8

Company: Action Performance (ATN )

Year ending: Sep-2004

Prior estimate: 2.43

New estimate: 2.04

Rationale: Weaker revenue outlook

Company: AmeriCredit (ACF )

Year ending: Jun-2004

Prior estimate: 1.16

New estimate: .90

Rationale: Lower sales, higher costs

Company: Briggs & Stratton (BGG )

Year ending: Jun-2004

Prior estimate: 3.40

New estimate: 3.80

Rationale: Company to boost engine output

Company: Ryder System (R )

Year ending: Dec-2003

Prior estimate: 1.85

New estimate: 2.05

Rationale: Expected cost reductions

Company: Universal Corp (UVV )

Year ending: Jun-2004

Prior estimate: 4.45

New estimate: 5.24

Rationale: See higher shipments

Company: Winn-Dixie (WIN )

Year ending: Jun-2004

Prior estimate: .95

New estimate: 1.43

Rationale: Tighter margins, competitive pressures

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