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Non-Tech : J.P. Morgan Chase (JPM)

JPM 309.44

+1.3%

Oct 30 3:59 PM EDT

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To: Patriarch who started this subject	9/26/2002 8:22:35 AM
From: D.Austin	of 30

8:01am 09/26/02 Lehman cuts JPM's earns est. again (JPM) By Tomi Kilgore Lehman Bros. analyst Brock Vandervliet believes, following recent discussions with management, that his initial estimates cut for J.P. Morgan Chase (JPM) following the company's profits warning a week earlier "was not drastic enough." His third-quarter earnings forecast is now 9 cents a share, down from his original forecast of 38 cents a share, given lower-than-originally-anticipated trading results, higher than expected loan loss provisions and the absence of heavy investment securities gains. Beyond the third quarter, Vandervliet has "limited earnings confidence and visibility." The stock, a component of the Dow industrials ($INDU) , closed Wednesday up 25 cents at $18.89. www2.marketwatch.com

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