QCOM: "S&P Reiterates Accumulate on Qualcomm"...
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QUALCOMM Inc (QCOM): Reiterate 4 stars
Analyst: Ari Bensinger
Korean telecom providers will choose GSM-based W-CDMA, developed by Nokia and Ericsson, over CDMA-2000, developed by QCOM, for next-generation mobile systems... News surprising because Korea now uses CDMA standard... Despite operators' preference, ultimate decision being made by Korean government... While QCOM may collect royalties on W-CDMA, it is not positioned for production of chipsets for GSM-based equipment.. Global acceptance of GSM increasing.. however, we still see enormous potential for superior CDMA technology in wireless data market.
Vertex Pharmaceuticals (VRTX): Reiterate
Analyst: Frank DiLorenzo
Co. announces it will earn $0.40 to $0.50 per share in Q2, sharply above our estimate of $0.04 loss per share; we now expect EPS of $0.44... Better results reflect timing of $15 mln. initial payment from Novartis partnership and $10 mln. milestone from Aventis... Look for $20 mln. in U.S. Agenerase sales for Q2 and expect European okay by end of '00... Because of Q2 EPS and our estimate of higher interest income into '01, we are lowering our loss per share estimate for '00 to $0.87 from $1.52, and '01's loss per share estimate to $0.86 from $1.19.
Marriott Intl 'A' (MAR): Reiterate
Analyst: Thomas Graves
Posts Q2 EPS of $0.50 vs. $0.42, above estimates.. Especially impressed by 7.6% rise in revenue per available room at comparable co.-operated U.S. lodging properties... In '00, look for net income plus depreciation, amortization to exceed $500 mln... with asset sales, will help fund capital spending, payments to resolve litigation (including joint venture acquisition of limited partnership interests) and stock repurchase... But with U.S. economy growth expected to slow, view P/E at 20x $1.89 EPS we see for '00 and 18x $2.14 we see in '01 as adequate price.<<< |
