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Technology Stocks : Altera
ALTR 53.61+1.3%Jul 7 5:00 PM EST
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To: John Ritter who wrote (1399)12/2/1997 10:10:00 PM
From: Maverick  Read Replies (1) of 2389
 
ALTERA CORP said it expects its 4Q revenue and EPS to be about
as much as it reported in the 3Q on weaker-than-expected sales on
its computer chips. "We indicated that we saw weak business in the
second half of November and that we are concerned that it will
continue into December," said Nathan Sarkisan, Altera CFO.
Sarkisan said Altera customers appear to be shrinking their
inventories and are slowing orders. The company's business from
Asia also is slowing, he said. Sarkisan said earnings for the 4Q
likely will be "close to flat" as compared to the 3Q. He declined
to give a forecast for the 1Q. (Reuters 12:02 PM ET 12/02/97) For
the full text story, see
infobeat.com

* Merrill Lynch analyst Tom Kurlak said he reduced his earnings
estimates on shares of various semiconductor companies. Kurlak
said companies are experiencing slower order rates for a variety
of reasons, which, combined with excess industry capacity, has
caused weaker prices. Lowers 1998 earnings estimate on shares of
VLSI TECHNOLOGY INC to a range of $1.40 to $1.50 per share frmo a
range of $1.55 to $1.70 per share. Leaves 1997 estimate on VLSI
unchanged at $1.29 per share. Reduces 1997 estimate on shares of
ALTERA CORP to $1.51 per share from $1.57 per share and 1998
estimate to range of $1.60 to $1.75 per share from $2.00 per
share. (Reuters 12:51 PM ET 12/02/97) For the full text story, see
infobeat.com
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