“We expect Novellus NVLS to report 2Q results that are in line with its updated guidance,” Goldman Sachs writes. “The company guided orders down about 25% qoq, shipments flat to down 10% qoq, revenues of $330 to $372 mn (-10% to -20% qoq), and EPS of $0.70 to $0.80.
“We believe that the company will guide 3Q orders within a wide range of down slightly to up 15% qoq, given the recent volatile fundamentals coupled with what has been a positive bias from management. Our 3Q11 revenue/EPS estimates of $350 mn (flat qoq)/$0.84 are below the Street at $360 mn (+2% qoq)/$0.86.”
Novellus closed Friday at $35.97.
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