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

To: Proud_Infidel who wrote (3487)	1/27/2004 9:22:00 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 3813

8:48AM Goldman provides color on NVLS earnings report 40.25: Goldman Sachs comments on Novellus' earnings report. Operating EPS of $0.07 was in-line with the firm's estimate which revs were slightly below. Q4 orders of $283 mln were above the firm's estimate of $275 mln but disappointing relative to upside shown last week by peers. Q1 orders were guided up to $305 -$315 mln, below the firm's est.of $330mln. As such, the firm lowers its CY04 EPS est.to $1.00 from $1.20 on lower orders and margins. The firm believes the stock will come under severe pressure today due to weak orders and margins. No change to the firm's view that the group stock cycle is nearing an end as the industry reaches normalized levels of cash flow.