RESEARCH ALERT - Novellus (NASDAQ:NVLS) raised
Reuters, Tuesday, October 12, 1999 at 10:45
NEW YORK, Oct 12 (Reuters) - Banc of America, Lehman Bros.
and Thomas Weisel Partners said they raised earnings estimates
on Novellus Systems Inc. (NASDAQ:NVLS), on the heels of its third
quarter earnings report.
Shares rose 6.4 percent, or 4-17/32, to 77-1/16 on NAsdaq
in early trading.
Novellus reported third quarter earnings of 54 cents a
share versus 22 cents in third quarter 1998. First Call
consensus was 46 cents. Orders were an all-time record for
Novellus, the company said.
-- Banc of America raised its rating on Novellus to a
strong buy from a buy.
-- The company expects a new record for Q4 orders, Banc of
America said. Analyst Brett Hodess estimates over 10 percent
quarter-to-quarter order growth to over $220 million.
-- Increased 1999 earnings estimate to $1.75 a share from
$1.59.
-- Increased 2000 earnings estimate to $3.10 a share from
$2.90.
-- Additionally, Lehman Bros. raised its fourth quarter
estimate to 65 cents a share from 57 cents a share. It also
raised its 1999 estimate to $1.75 a share from $1.60 and its
2000 estimate to $3.05 a share from $3.00.
-- Thomas Weisel Partners raised its 1999 earnings estimate
to $1.75 a share from $1.58 and its 2000 earnings estimate to
$3.05 a share to $3.00.
Copyright 1999, Reuters News Service
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