A couple of more on NVLS for the record.
<< 05/27/04 05:33 pm EDT... S&P REITERATES ACCUMULATE OPINION ON SHARES OF NOVELLUS (<NVLS> 31.38****): Based on its view of strong and improving business fundamentals, NVLS raised its Q2 revenue and EPS guidance during mid-quarter update call today. The company confirms our view that much of the growth is coming from Asia. We are raising our revenue forecast to $334M from $315M, within NVLS's new $325-$335M guidance. With strong operating leverage and widening gross margins, largely a function of volume, NVLS says it expects Q2 EPS of $0.25-$0.27. We are raising our Q2 estimate to $0.27 from $0.19. Our new FY 04 EPS est. is $1.07, up from $0.91, but our target price stays $42.>>
<< 05/28/04 12:49 pm EDT... NOVELLUS SYSTEMS (<NVLS> 33.09) UP 1.71, RAISES Q2 GUIDANCE. GOLDMAN RAISES ESTIMATE... Analyst James Covello tells salesforce during mid-Q call, <NVLS> raised $305M-$325M Q2 rev guidance to $325M-$335M, EPS to $0.25-$0.27 vs. his $0.22, Street $0.21, ests... Raises his $1.00 FY 04 (Oct) EPS est. to $1.10 as higher-than-expected shipment flow through model... Keeps in-line rating, thesis that it too late in fundamental cycle to be overweight the semi-equip stocks... For investors who must maintain some exposure to group, <NVLS> solid mid-Q update will likely generate some NT relative outperformance given its significant underperformance in '03, to date in '04.>> |
