Lower Estimate for J.P. Morgan Chase

S&P revises earnings forecasts for Coherent and others

Company: Celestica (CLS )

Year ending: Dec-02

Prior estimate: 1.19

New estimate: 0.95

Rationale: Ongoing end-market weakness

Company: Coherent (COHR )

Year ending: Sep-03

Prior estimate: 0.73

New estimate: 0.96

Rationale: Sees lower revenues, bleak industry ahead

Company: J.P. Morgan Chase (JPM )

Year ending: Dec-02

Prior estimate: 2.30

New estimate: 1.38

Rationale: Ongoing deterioration of fundamentals

Company: Northwest Airlines (NWAC )

Year ending: Dec-02

Prior estimate: -2.51

New estimate: -4.09

Rationale: Continued industry downturn

SEPT. 17

Company: Gateway (GTW )

Year ending: Dec-02

Prior estimate: -0.52

New estimate: -0.63

Rationale: Market share losses, pricing pressures

SEPT. 16

Company: Dow Jones & Co. (DJ )

Year ending: Dec-02

Prior estimate: 1.22

New estimate: 0.81

Rationale: 2002 estimate adjusted to subtract asset sale gain

Company: ESS Technology (ESST )

Year ending: Dec-02

Prior estimate: 1.06

New estimate: 0.95

Rationale: Pricing pressures