Zeev's Turnips Patch-No Politics (ZEEV)

[wstera2]

14:01 ET InVision plunges intraday (INVN) 24.00 -1.90: --Update-- Sudden weakness in stock appears to be on Stephens note. According to firm, FY03 federal budget includes $174.5 mln of funding for the procurement of explosive detection systems and explosive trace detection equipment, an increase of $50 mln from the Senate's version but well short of $450 mln recommended by the House. Stephens says it will now need to lower its rev est, but believes INVN can still achieve its 2003 rev target of $400 mln. However, firm feels that INVN will probably need to reduce its revenue guidance for 2004 from $400 mln or better to the $200-$300 mln range. Firm believes 2004 EPS could fall in the $1.50-$2.00 range. The current Multex consensus for 2004 is $3.33.