Higher Estimate for Georgia Gulf

S&P revises earnings forecasts for Ericsson and others

Company: Axcelis Technology (ACLS )

Year ending: Dec-03

Prior estimate: -0.16

New estimate: -0.23

Rationale: Stronger industry pricing pressure

Company: Centillium (CTLM )

Year ending: Dec-03

Prior estimate: -0.44

New estimate: -0.16

Rationale: Higher revenue growth, lower operating costs

Company: Cypress Semiconductor (CY )

Year ending: Dec-03

Prior estimate: 0.05

New estimate: 0.10

Rationale: Products selling better; cost cuts

Company: Gartner Inc (IT )

Year ending: Sep-03

Prior estimate: 0.52

New estimate: 0.39

Rationale: See later economic recovery

Company: Georgia Gulf (GGC )

Year ending: Dec-03

Prior estimate: 0.80

New estimate: 0.95

Rationale: Better than expected first quarter EPS

Company: InFocus Corp (INFS )

Year ending: Dec-03

Prior estimate: 0.04

New estimate: -0.84

Rationale: Lower than expected gross margin

Company: Phelps Dodge (PD )

Year ending: Dec-03

Prior estimate: 0.80

New estimate: -0.75

Rationale: Unfavorable tax rate; higher costs

May 1

Company: Bradley Pharmaceutical (BPRX )

Year ending: Dec-03

Prior estimate: 0.88

New estimate: 0.99

Rationale: Growth of established and new brand sales

Company: Electro Scientific (ESIO )

Year ending: May-04

Prior estimate: 0

New estimate: -0.10

Rationale: Product warranty issues cost customers

Company: Ericsson (ERICY )

Year ending: Dec-03

Prior estimate: -0.37

New estimate: -0.22

Rationale: Restructuring savings

Company: FTI Consulting (FCN )

Year ending: Dec-03

Prior estimate: 2.35

New estimate: 2.65

Rationale: Higher utilization rates

Company: ICOS Corp (ICOS )

Year ending: Dec-03

Prior estimate: -2.94

New estimate: -2.58

Rationale: Lower costs

Company: Macromedia (MACR )

Year ending: Mar-04

Prior estimate: 0.51

New estimate: 0.60

Rationale: Fourth-quarter results; first-quarter and fiscal year 2004 company guidance

Company: Millennium (MCH )

Year ending: Dec-03

Prior estimate: 0

New estimate: -0.30

Rationale: Wider than expected first-quarter loss

Company: Murphy Oil (MUR )

Year ending: Dec-03

Prior estimate: 2.47

New estimate: 3.16

Rationale: First-quarter EPS, conference call

Company: Newport Corp (NEWP )

Year ending: Dec-03

Prior estimate: -0.17

New estimate: -0.22

Rationale: Higher than expected SG&A costs

Company: PacifiCare (PHSY )

Year ending: Dec-03

Prior estimate: 6.10

New estimate: 5.43

Rationale: Now excludes $0.67 prior-period adjustment

Company: Park Place Entertainment (PPE )

Year ending: Dec-03

Prior estimate: 0.55

New estimate: 0.41

Rationale: Disappointing guidance

Company: Paxar Corp (PXR )

Year ending: Dec-03

Prior estimate: 0.96

New estimate: 0.74

Rationale: Foreign competition; weak domestic market

Company: SureWest (SURW )

Year ending: Dec-03

Prior estimate: 0.27

New estimate: 0.24

Rationale: Adjustment of interest expense

Apr. 30

Company: Alcatel (ALA )

Year ending: Dec-03

Prior estimate: -0.61

New estimate: -0.40

Rationale: Stronger gross margin expansion

Company: Barrick Gold (ABX )

Year ending: Dec-03

Prior estimate: 0.25

New estimate: 0.30

Rationale: Better than expected first-quarter EPS

Company: Host Marriott (HMT )

Year ending: Dec-03

Prior estimate: -0.24

New estimate: -0.49

Rationale: Terrorism threats, SARS, war in Iraq

Company: Lincoln National (LNC )

Year ending: Dec-03

Prior estimate: 3.20

New estimate: 2.70

Rationale: Low fee income; equity market fluctuations

Company: Midway Games (MWY )

Year ending: Jun-03

Prior estimate: 0.06

New estimate: -0.19

Rationale: Weaker than expected first quarter results

Company: PACCAR (PCAR )

Year ending: Dec-03

Prior estimate: 3.31

New estimate: 4.01

Rationale: Favorable industry outlook; margins

Company: Pittston Co (PZB )

Year ending: Dec-03

Prior estimate: 1.58

New estimate: 1.15

Rationale: Changed margin, continuing operations assumptions

Company: Protein Design Labs (PDLI )

Year ending: Dec-03

Prior estimate: -0.30

New estimate: -0.43

Rationale: Heavy R&D costs

Company: RealNetworks (RNWK )

Year ending: Dec-03

Prior estimate: 0.01

New estimate: -0.02

Rationale: First-quarter conference call, second-quarter guidance

Company: Symbol Technology (SBL )

Year ending: Dec-03

Prior estimate: 0.39

New estimate: 0.28

Rationale: See continued end-market weakness

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