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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (87026)	6/27/2002 7:28:54 AM
From: Softechie	Respond to of 99280

07:18 ET INTC Intel estimates cut at Lehman (18.61) -- Update -- As mentioned at 7:12, Lehman's Dan Niles says that although INTC's Q2 results should be in-line, firm believes the co will need to lower both revs and margins again for 2H02 given the excess channel inventories of PCs and slowdown in both consumer and European demand; cuts CY02 est $0.57 from $0.60 and CY03 to $0.83 from $0.90 (both below consensus); although valuation has come down, firm does not find it compelling at roughly 22x CY03 EPS. 07:17 ET KG King Pharms provides 2003 guidance (19.46) Expects to post 2003 diluted earnings of $1.54-$1.66 per share, on revenues of $1.35-$1.50 bln (Multex consensus $1.58 and $1.41 bln). Projects 2003 Altace sales of $585-$715 mln. 07:12 ET Lehman upgrades select chipmakers, cautious on others Lehman upgrades MU and ICST to STRONG BUY from Buy and FCS and CNXT to BUY from Mkt Perform, and moves to a Mkt Weight/slight Overweight position from Underweight in semis; says valuations have started to reach compelling levels and expectations for several co's have also reached achievable levels. Firm also cuts ests on INTC and HPQ, and believes there is still risk to PLD co's XLNX and ALTR, comm ICs co's such as AMCC, and mixed signal co's as valuations still remain high.