Cutting Estimate for El Paso

S&P revises earnings forecasts for Nortel Networks and others

Company: Amerada Hess (AHC )

Year ending: Dec-02

Prior estimate: 5.07

New estimate: 8.60

Rationale: Better than expected oil prices

Company: Delphi Corp. (DPH )

Year ending: Dec-02

Prior estimate: 0.68

New estimate: 0.92

Rationale: Raising auto production estimates

Company: El Paso Corp. (EP )

Year ending: Dec-02

Prior estimate: 3.35

New estimate: 2.70

Rationale: Operating shortfall, equity sale

Company: Nortel Networks (NT )

Year ending: Dec-02

Prior estimate: d0.36

New estimate: d0.27

Rationale: Increased cost cuts

Company: Photronics (PLAB )

Year ending: Oct-02

Prior estimate: 0.62

New estimate: 0.52

Rationale: Company guidance

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