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

To: Imran who wrote (1389)	12/2/1997 9:41:00 AM
From: Charlie Smith	Read Replies (1) \| Respond to of 2389

Imran: Morgan Stanley, Volpe Brown and Smith Barney cut estimates and ratings this AM after statements from the company. From Briefing.com: Altera is guiding revenue estimates lower. According to the company, it sees 4Q revenues sequentially flat with its 3Q level of $162.13 million, which is being interpreted to mean that Altera expects to report flat earnings per share in the 4Q as the company is noting product order push-out for its revenue weakness. Altera is also noting that it sees some weakness in Asia following the collapse of the financial markets in October. Prior to today's announcement, Wall Street expected Altera to record a 4Q net of $0.42 a share, two cents higher than in the 3Q, on projected revenue growth of 5% from the 3Q. The lack of revenue growth and consequential flat earnings growth has prompted Morgan Stanley and Volpe Brown to downgrade the stock this morning. Volpe Brown has cut its view on Altera to a "buy" from a "strong buy," while Morgan Stanley has reduced its investment view to a "neutral" from an "outperform." Morgan also lowered fiscal 1997 EPS estimates by two cents to $1.54 a share and its 1998 EPS forecast to $1.80 from $1.95 a share. Regards