Interesting post from the DELL thread. DELL and CPQ earnings now estimated to each be $1.00 in 2000. El .............
To: jmac (147253 )
From: Wally Mastroly
Friday, Nov 12 1999 9:36AM ET
Reply # of 147266
RESEARCH ALERT - Bear lowers Dell FY2001 EPS view
NEW YORK, Nov 12 (Reuters) - Bear Stearns on Friday said it cut its earnings estimate for
next year on Dell Computer Corp. (NasdaqNM:DELL - news), saying the computer maker
had a cautious revenue growth outlook following its third-quarter report Thursday.
-- Analyst Andy Neff said Dell's third-quarter earnings were in line with his expectations and
the Wall Street consensus, but revenues of $6.78, up 41 percent year-to-year, were shy of
his estimate of $6.88 billion.
-- Neff said Bear Stearns had ''lowered our FY2001 estimate from $1.05 to $1.00 due to
slightly lowered revenue expectations, reflecting the lower revenue levels.''
-- ''While the stock might trade down tomorrow on the on the cautious revenue outlook, we
think the company executed well against a number of tough external factors ... and we
would be buyers on weakness,'' Neff said.
-- He was referring to spiking PC memory chip prices, the Taiwan earthquake, and flat panel
display shortages that crimped Dell's otherwise impressive year-to-year revenue growth rate
of 41 percent.
-- In pre-open trading, Dell shares traded down to 42-1/2, more than $2 below the levels at
which they had traded following the company's earnings report late Thursday. At 0900
EST/1400 GMT, the stock was trading around 43-5/16, nar Thursday's regular session
close.
-- Neff's mixed comments came amid a wave of positive remarks and reiterrating stock
recommendations from brokerages including CS First Boston, Salomon Smith Barney and
Morgan Stanley. ABN AMRO raised its rating to outperfrom from hold.
-- Neff maintained his estimate of $0.20 per share for the fourth quarter ending in January
2000 compared with $0.15 in the January 1999 quarter and $0.73 for the fiscal year ending
in January 2000 vs. $0.53 for the year ago period.
-- He initiated an estimate for the fiscal year ending in January 2002 of $1.35 per share. He
maintained his attractive rating.
biz.yahoo.com
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...and another:
Alert: Painewebber Cuts Dell Computer Fy00 Eps
Estimates, Maintains Neutral (NasdaqNM:DELL) |
