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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (16727)	4/18/2001 9:19:20 AM
From: Softechie	Read Replies (1) \| Respond to of 37746

RESEARCH ALERT-Lehman cuts Intel EPS views -------------------------------------------------------------------------------- NEW YORK, April 18 (Reuters) - Lehman Brothers on Wednesday said it cut its financial year earnings estimates for Intel Corp. through 2002, after the world's No. 1 chip maker reported a steep drop in first-quarter net income. The brokerage shaved its 2001 earnings view to 55 cents from 65 cents a share and cut its 2002 view to 65 cents from 70 cents a share. "Though Q1 results were generally in line, the real story is Intel's statement that the processor business stabilized in March, but that operating margins will be driven to 14 percent in Q2 versus 34 percent a year ago to help generate that demand," Lehman said in a research note. Lehman Brothers said the question of whether a pickup in demand is related to a replenishment of inventory or an increase in end demand will only be solved with time. On Tuesday, Intel said its net income dropped 82 percent to $485 million, or 7 cents a diluted share, compared with $2.7 billion, or 39 cents a share in the year-ago period, but said it sees a stronger second half. The company said it believes its microprocessor business -- 80 percent of the company's sales -- has stabilized. Shares of Intel closed at $26.04 on Tuesday on Nasdaq, near the low end of the 52-week range of $22.25 to $75.81. REUTERS Rtr 08:56 04-18-01