Cutting Forecast for Gap

S&P revises earnings estimates for Anadarko and others

Company: America West (AWA )

Year ending: Dec-02

Prior estimate: d1.35

New estimate: d2.75

Rationale: Continued tough industry conditions

Company: Anadarko Petroleum (APC )

Year ending: Dec-02

Prior estimate: 2.75

New estimate: 1.90

Rationale: Lower natural gas & oil prices

Company: Big Lots (BLI )

Year ending: Jan-03

Prior estimate: 0.52

New estimate: 0.40

Rationale: Higher insurance costs

Company: Pall Corp. (PLL )

Year ending: Jul-02

Prior estimate: 1.02

New estimate: 0.85

Rationale: Weak microelectronics

Company: Pride International (PDE )

Year ending: Dec-02

Prior estimate: 0.86

New estimate: 0.34

Rationale: Weak drilling activity

Company: Gap (GPS )

Year ending: Jan-03

Prior estimate: 0.50

New estimate: 0.35

Rationale: Weak sales, lower volume

Company: UAL Corp. (UAL )

Year ending: Dec-02

Prior estimate: d19.75

New estimate: d25.00

Rationale: Reflects tough industry conditions

Company: US Airways (U )

Year ending: Dec-02

Prior estimate: d6.00

New estimate: d12.00

Rationale: Reflects sharp industry losses

FEB. 26

Company: Cabot Microelectronics (CCMP )

Year ending: Sep-02

Prior estimate: 1.96

New estimate: 1.69

Rationale: General industry conditions

Company: Flextronics (FLEX )

Year ending: Mar-03

Prior estimate: 1.00

New estimate: 0.85

Rationale: Ongoing weakness in the telecom sector

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