Optical Equipment Sector : JP Morgan lowering estimates for CIEN, ONIS, CORV, TLAB, SCMR to reflect flattening growth in the space. While none of these companies have lowered guidance, believes many of them will have to at some point.
Storage Stocks Cut : Salomon Smith Barney downgrades a host of storage sector stocks. Lowered to OUTPERFORM from BUY: EMC, BRCD, QLGC, JNIC, INRG. Firm cuts NTAP to NEUTRAL from OUTPERFORM.
BGEN) 66: After the close, UBS Warburg downgraded to HOLD from BUY. Lowered FY01 est. to $1.87 from $1.93 and FY02 to $2.11 from $2.43. Expects BGEN's earnings/revenue growth to come under increasing pressure beginning in 2003, when Avonex loses its orphan drug status.
webMethods (WEBM) 31 3/4: -- Update -- Salomon Smith Barney downgrades to NEUTRAL from OUTPERFORM, citing increased uncertainty of ability to meet numbers following the Tibco (TIBX) warning. Price target cut to $33 from $60. |
