Varian Semiconductor Equipment Associates -- VSEA Message Board

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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA

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To: Proud_Infidel who wrote (1337)	3/6/2001 12:56:20 PM
From: Proud_Infidel	Read Replies (1) of 1929

RESEARCH ALERT-JP Morgan cuts Varian Semiconductor EPS view NEW YORK, March 6 (Reuters) - J.P. Morgan said on Tuesday it cut its fiscal second-quarter and full-year 2001 earnings estimates on Varian Semiconductor Equipment Inc. (NasdaqNM:VSEA - news) after the chipmaker issued an earnings warning Monday. J.P. Morgan lowered its earnings estimates to 60 cents a share from 82 cents for the second quarter ending March 30 and to $2.29 from $2.81 for the fiscal year, analyst Eric Chen said in research notes. The company warned on Monday that because of customers' reductions in capital spending, it will report second-quarter sales short of its earlier guidance. ``While shares of Varian may open slightly lower, we continue to believe that the shares will likely remain in a near-term trading range,'' Chen said. ``But long-term oriented investors could benefit by accumulating shares on weakness.'' Shares of Varian ended Monday at $31-1/2, well off their 52-week high of $73-1/8. The year low is $16-15/16.

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