Entegris Falls on Earnings, Outlook
Entegris (ENTG) - Get Report was down 14.5% after it posted third-quarter earnings late Monday of 14 cents a share, vs. 19 cents in the year-ago period.
The semiconductor processing product maker said orders seem to have "stabilized at a low level," but that forecasting remained difficult. The company warned sales in the fourth quarter would likely drop 25% to 35% compared to the third quarter.
This morning,
Merrill Lynch
cut its 2001 EPS estimates on Entegris to 64 cents from 75 cents, while maintaining its rating on the stock of intermediate-term accumulate and long-term buy.
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