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| Check Point downgraded on Q4 forecast by Reknamorken at 8:29 pm EDT, Oct 20, 2002 | |||
Following the markets lead, brokerage house Merrill Lynch Sunday lowered its revenue and earnings estimates for Check Point Software Technologies after the company issued a profit warning Friday. ... Chairman and CEO Gil Shwed said in a conference call Thursday the company is having its worst year ever, and may not improve much in 2003. He said the company expects fourth-quarter earnings of 23 cents to 25 cents a share, and sales of $100 million to $108m. Analysts expected the company to earn 26 cents a share on $113m. in sales. ... Check Point's bubble didn't pop violently like so many other tech companies, but their stock valuation's return to Earth is interesting to watch. | |||
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