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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (23918)	7/27/2001 7:30:43 PM
From: E_K_S	Respond to of 25814

(Reuters 09:11 PM ET 07/26/2001) LSI LOGIC CORP. on Thursday reported a second-quarter loss in line with analyst expectations and said sales would fall again in the third period. LSI Logic said it had a loss before amortization of goodwill and others items of $20.9 million, or 6 cents a share, compared with a year-ago profit of $98 million, or 29 cents. Sales fell 28 percent to $465 million from $644 million. On that basis, the results were within the range of per-share forecasts of loss 6 cents to loss 11 cents and the mean estimate of loss of 7 cents, according to Thomson Financial/First Call. ========================================================== *** RESEARCH ALERT-Prudential cuts LSI Logic price target (Reuters 09:59 AM ET 07/27/2001) Prudential Securities on Friday cut its price target on LSI LOGIC CORP. from $44 to $25, but remained upbeat about the company one day after LSI reported a second-quarter loss in line with analyst expectations. "LSI continues to be one of our favorite cycle plays," analyst Hans Mosesmann said in his report. He reiterated his buy recommendation. Mosesmann revised down his results outlook on LSI for 2001 to a loss of 60 cents a share from a loss of 50 cents a share. For 2002, he revised his forecast to a loss of 50 cents a share from breakeven. He predicted revenues would bottom out in third quarter 2001, followed by modest growth in the fourth quarter. =========================================================== Notice that Prudential still estimates a loss for FY 2002. EKS