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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: jmac who wrote (147250)	11/12/1999 9:36:00 AM
From: Wally Mastroly	Read Replies (1) \| Respond to of 176387

RESEARCH ALERT - Bear lowers Dell FY2001 EPS view NEW YORK, Nov 12 (Reuters) - Bear Stearns on Friday said it cut its earnings estimate for next year on Dell Computer Corp. (NasdaqNM:DELL - news), saying the computer maker had a cautious revenue growth outlook following its third-quarter report Thursday. -- Analyst Andy Neff said Dell's third-quarter earnings were in line with his expectations and the Wall Street consensus, but revenues of $6.78, up 41 percent year-to-year, were shy of his estimate of $6.88 billion. -- Neff said Bear Stearns had ''lowered our FY2001 estimate from $1.05 to $1.00 due to slightly lowered revenue expectations, reflecting the lower revenue levels.'' -- ''While the stock might trade down tomorrow on the on the cautious revenue outlook, we think the company executed well against a number of tough external factors ... and we would be buyers on weakness,'' Neff said. -- He was referring to spiking PC memory chip prices, the Taiwan earthquake, and flat panel display shortages that crimped Dell's otherwise impressive year-to-year revenue growth rate of 41 percent. -- In pre-open trading, Dell shares traded down to 42-1/2, more than $2 below the levels at which they had traded following the company's earnings report late Thursday. At 0900 EST/1400 GMT, the stock was trading around 43-5/16, nar Thursday's regular session close. -- Neff's mixed comments came amid a wave of positive remarks and reiterrating stock recommendations from brokerages including CS First Boston, Salomon Smith Barney and Morgan Stanley. ABN AMRO raised its rating to outperfrom from hold. -- Neff maintained his estimate of $0.20 per share for the fourth quarter ending in January 2000 compared with $0.15 in the January 1999 quarter and $0.73 for the fiscal year ending in January 2000 vs. $0.53 for the year ago period. -- He initiated an estimate for the fiscal year ending in January 2002 of $1.35 per share. He maintained his attractive rating. biz.yahoo.com - ...and another: Alert: Painewebber Cuts Dell Computer Fy00 Eps Estimates, Maintains Neutral (NasdaqNM:DELL)