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

To: Henry Eichorszt who wrote (1566)7/24/1998 6:29:00 PM
From: David Lawrence  Respond to of 3813
 
... in reaction to its dismal earnings report last week.

Who's dismal earnings report?



To: Henry Eichorszt who wrote (1566)7/24/1998 9:29:00 PM
From: Jim Willie CB  Read Replies (1) | Respond to of 3813
 
Henry,
any reference or link I can pursue to read Adam Harkness lowering on Novellus? ... nothing on Yahoo newswire... must have happened in mid-morn Friday when stock suddenly went under 36 like a rock... rather dire estimate on FY99 of 90 cents... reasonable estimate on FY98 in 1.45 range which means it now trades at 26 PE ratio

for even a little blue chip equipment stock, still seems like it should be trading in mid to high 20's with over 18 months before recovery of business... comedy for maintain reco at Market Perform... trading at 40 times FY99 expected eps on declining earnings

these analysts are a confused bunch... this morning CS First Boston initiated coverage on NVLS with a BUY... price ratcheted up to 38 then gave it up

NVLS saw the technical key weekly reversal today, closing at 36-3/8 which is down 1/2 point on the week after touching new high... not a good sign... I believe stock price running on fumes provided by naive retail investors... next comes a test of the recent lows

thanks for the update... more downgrades to come IMO
/ Jim Willie



To: Henry Eichorszt who wrote (1566)7/28/1998 7:17:00 AM
From: LemurHouse  Read Replies (1) | Respond to of 3813
 
Henry, sincere thanks for the post. But this is BS. I certainly think things will get worse before they get better, but I don't see .90 cents earnings in FY 99. I wonder how he got this? I figure its either a misprint or its scare-mongering by the analyst. How can he maintain a "market perform" rating while cutting earnings by two thirds?

Andy


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