Scott, here are the exact reeases. some times they can have good eps est. but dg the stk.
MarketScope, Thursday, September 11, 1997 at 16:17
DOWN 2 1/8 to 37 3/4... Everen downgrades to near term market perform from
outperform... Salomon downgrades to hold from buy... Goldman cuts estimates...
Co. unavailable... See Pg. 5.
-0- ASND $$$ (0875) 09-11-97 04:20 PM EST
MarketScope, Friday, September 12, 1997 at 13:43
DOWN 1 to 36 3/4... Smith Barney cuts estimates, sees higher 3Q risk than
previously expected... Co. unavailable... See Pg. 5.
-0- ASND $$$ (0553) 09-12-97 01:43 PM EST
MarketScope, Friday, September 12, 1997 at 13:38
9/12/97 1:37 pm... ASCEND COMMUNICATIONS (ASND 36-3/4) DOWN 1, SMITH BARNEY
CUTS ESTIMATES, SEES HIGHER 3Q RISK THAN PREVIOUSLY EXPECTED... Analyst Therese
Murphy tells salesforce alteration of estimates priniciply due to co.'s delays
in delivering their high end MAX TNT, delays delivering 56K capability... Says
longer term optimistic... Cuts $0.34 3Q EPS estimate to $0.24-$0.28, $0.37 4Q
EPS to $0.29... Cuts $1.35 '97 EPS estimate to $1.17, $1.90 '98 to $1.61...
Says concerns have been cited regarding operation of MAX TNT product... But,
says co. not losing customers... Has $56 target./K.J.Wolfe
NASDAQ
Ascend Communications, down 2 3/16 at 37 13/16
Several leading brokerages lowered their earnings estimates for
the computer networking concern, the Dow Jones News Service
reported. Some analysts are viewing an Ascend price promotion as a
sign that the Alameda, Calif.-based company needs to boost sales to
meet earnings projections.
MarketScope, Thursday, September 11, 1997 at 16:17
DOWN 2 1/8 to 37 3/4... Everen downgrades to near term market perform from
outperform... Salomon downgrades to hold from buy... Goldman cuts estimates...
Co. unavailable... See Pg. 5.
-0- ASND $$$ (0875) 09-11-97 04:20 PM EST
Reuters, Thursday, September 11, 1997 at 10:40
LOS ANGELES, Sept 11 (Reuter) - Hambrecht & Quist on
Thursday cut earnings estimates for Ascend Communications based
on the belief that revenues will be hurt by lower than
anticipated European sales.
-- cut third quarter, ending September, estimate to $0.34 a
share on sales of $324.5 million from $0.36 a share on sales of
$336.6 million. Cut year 1997 to $1.35 a share on sales of
$1.29 billion from $1.40 a share from $1.31 billion.
-- said has high degree of confidence in European order
growth for fourth quarter 1997 and first quarter 1998.
-- Ascend stock was off 2-3/16 at 37-13/16 in early trade.
Copyright 1997, Reuters News Service
Reuters, Thursday, September 11, 1997 at 09:47
NEW YORK, Sept 11 (Reuter) - Salomon Brothers dowgraded its
rating on the shares of Ascend Communications Inc to hold from
buy, a market source said on Thursday.
-- Further details not immediately available.
" Shares lost 2-7/16 to 37-9/16.
" NEW YORK -(Dow Jones)- Investors again soured on shares of Ascend
" Communications Inc. Thursday a handful of brokerage firms lowered
" earnings estimates on the computer networker.
" Stocks in the networking sector also have been hampered by rumors
" that industry giant Cisco Systems Inc. (CSCO) would lower prices on some
" products, and news that Ascend is offering a free product promotion.
" Market sources characterized such moves as an attempt to spur weak
" business.
" Wall Street's concerns over Ascend center on a price promotion by the
" company called the "MAX Value" program, which analysts have taken as a
" sign the company needs to boost sales to meet earnings calls. Under the
" promotion, Internet service providers in the U.S. and Canada receive
" free MAX products with the purchase of a MAX 4048 Switch from Ascend.
" In addition to raising concerns about third-quarter earnings, one
" source said the promotion could cannibalize fourth-quarter sales by
" pushing them into the third quarter since the deal is limited to
" equipment purchased during the month of September.
" The promotion has prompted analysts at a number of major Wall Street
" firms, including Goldman Sachs, Deutsche Morgan Grenfell, Hambrecht &
" Quist and UBS Securities, to cut their earnings estimates on the
" company.
" Hambrecht & Quist, for instance, cut its third-quarter earnings view
" to 34 cents a share from 36 cents, one source said. And, Goldman Sachs
" cut its 1997 earnings view to $1.30 a share from $1.40 and its 1998 view
" to $1.70 a share from $1.90, according to a second market source.
" Salomon lowered its investment rating on Ascend to "hold" from "buy,"
" according to a market contact. The firm also lowered its 1997 earnings
" target to $1.22 a share from $1.31, and its 1998 view to $1.60 a share
" from $1.85.
" Officials from the brokerage firms were unavailable for comment.
" Wednesday, Morgan Stanley & Co. lowered its third-quarter earnings
" estimate to 33 cents a share from 35 cents.
" Ascend develops and makes wide area networking solutions for
" telecommunications carriers, Internet service providers and corporate
" customers. At the close Thursday, its Nasdaq-listed shares (ASND) were
" down $2.188 at $37.813 at the close. More than 28 million shares changed
" hands, easily making it the most actively traded issue on the exchange.
" Average daily volume is around 9.7 million. Ascend's 52-week high is
" $80.25.
NEW YORK, Sept 11 (Reuter) - Goldman Sachs on Thursday cut
its earnings estimates for Ascend Communications Inc.
-- Securities analyst Ajay Diwan said Q3 EPS cut to $0.31
from $0.36.
-- Q4 cut to $0.35 from $0.40.
-- 1998 cut to $1.70 from $1.90.
-- Ascend shares fell to 37 in Thursday pre-open trading,
down from Wednesay's closing price of 40.
MarketScope, Wednesday, September 10, 1997 at 14:27
9/10/97 2:20 pm... ASCEND COMMUNICATIONS (ASND 40) DOWN 2-1/2, MORGAN STANLEY
CUTS 3Q, '97 EPS ESTIMATES... Analyst Alkesh Shah tells salesforce trims $0.35
3Q EPS estimate to $0.33... Says cuts reflect delayed qualification in Europe
of 56K line cards for MAX TNT... Says despite that, sources indicate demand
remains strong... Believes that as UUNet becomes more formidable dial-up
service, good proxy for Internet growth, ASND could benefit more, especially
as he would expect incremental dial-in capacity to be added to UUNet network
as opposed to CompuServe, AOL networks... Maintains $0.38 4Q, $1.95 '98 EPS
estimate... Maintains strong buy./B.Brodie
MarketScope, Wednesday, September 03, 1997 at 16:12
UP 1 7/8 to 42 3/4... Furman Selz reportedly upgrades to buy from neutral...
Further details, co.
Reuters, Wednesday, September 03, 1997 at 13:23
NEW YORK, Sept 3 (Reuter) - Furman Selz said on Wednesday
it upgraded its rating on the shares of Ascend Communications
Inc to a buy from a neutral, with a 12-month price target of
between $55 and $60 per share.
-- The stock was also added to the firm's recommended list.
-- Analyst Martin Pyykkonen said he was raising his 1998
earnings estimate to $1.80 per share from $1.75 per share.
-- Ascend's share price had backed down to a more
reasonable level and Wall Street estimates were now more
realistic, he said.
-- "In the long term, we increasingly believe that Ascend
is well-positioned for increased carrier spending which we fell
is gaining momentum," Pyykkonen.
" The stock rose 7/8 to 41-3/4.
" MarketScope, Thursday, August 28, 1997 at 15:42
"
" DOWN 1 3/4 to 42 1/8... Merrill downgrades to near term neutral from
" accumulate... Co. unavailable... See Pg. 5.
" NEW YORK, Aug 28 (Reuter) - Merrill Lynch said it lowered
" its near-term rating on Ascend Communications Inc to neutral
" from accumulate, keeping its long-term rating at accumulate.
" -- the analyst was not immediately available for comment.
HOPE THE THREAD DOESN'T MIND THE LONG POST TO GET EXACT RELEASES FROM THE ANALYST. |
