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Technology Stocks : Read-Rite

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To: CPAMarty who wrote (2953)	4/16/1998 12:36:00 AM
From: cruncher	of 5058

From Briefing.com "Read-Rite reported a wider than expected loss of $1.29 on a 34% drop in revenues... Street was looking for a loss of $0.72... Despite lousy number, don't look for stock to sell-off sharply as bad news is reflected in stock price... Disk drive stocks are now trading on prospect for late this year and assumption is that conditions can't get worse... As absurd as it seems, don't be surprised if stock edges higher in today's action."

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