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The earnings projection reverberated with technology stocks on the Nasdaq.
Some analysts reacted cautiously to Genzyme's earnings projection.
The company also said it stood by its earnings projection of $2.19 a share for 2003.
Motorola's earnings projection did not include any allowance for special charges.
The stock now trades at $29.00, or 10.2 times his 2001 earnings projection of $2.85 a share.
On Friday, Microsoft closed at $67.38, or 32 times Wall Street's earnings projection of $2.13 a share for 2001.
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The company reaffirmed its revenue and earnings projections.
Palm also cut its earnings projections for its fiscal fourth quarter.
The company also remains comfortable with analysts' 2003 earnings projections calling for double-digit earnings growth.
Sabre Holdings, based in Fort Worth, announced that it would miss its earnings projections.
King increased 2001 earnings projections, before charges, to $1.21 to $1.24 a share from $1.18 to $1.21.
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