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

To: Daniel Shaffer who wrote (472)	9/27/2002 1:05:03 PM
From: JakeStraw	Read Replies (2) \| Respond to of 493

RESEARCH ALERT-JP Morgan cuts Solectron view Friday September 27, 12:00 pm ET biz.yahoo.com NEW YORK, Sept 27 (Reuters) - J.P. Morgan said on Friday it cut its earnings and revenue outlook for Solectron Corp. (NYSE:SLR) citing the contract electronics manufacturer's slow progress in improving gross margins and soft demand. J.P. Morgan said in a research note it expects Solectron to earn 3 cents rather than its earlier estimate of 10 cents a share in the full year 2003. It also cut its 2003 revenue estimate to $12.2 billion from its earlier outlook of $12.9 billion. But the brokerage firm said it still believes the company is stable from a liquidity point of view and that by segment Solectron's mobile communications, telecommunications, and peripheral business was better than it expected. Solectron posted a sharply wider fourth-quarter loss on Thursday as its charges increased while its revenue fell.