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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject10/10/2001 1:56:08 PM
From: Teri Garner  Read Replies (2) of 37746
 
13:48 ET EMC Corp (EMC) 12.17 -0.58 (-4.6%): Comments out of Dain Rauscher Wessels this morning weighing on stock, and contributing to weakness in the storage sector as a whole. Firm expecting SeptQ results to come in shy of consensus and DecQ guidance to be conservative; believes EMC is pricing aggressively and is not concerning itself with Street expectations this qtr. Dain thinks a layoff of material size is imminent, accompanied by a large charge for restructuring and inventory write-off. While firm expects volume to improve in DecQ, remains cautious near-term, at least until results are released Oct 7.
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