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Technology Stocks : ADTRAN !?!

ADTN 9.400

-0.7%

Feb 5 3:59 PM EST

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To: Tom Hua who wrote (400)	6/11/1997 7:18:00 PM
From: bob slowik	of 766

Tom: RESEARCH ALERT - Adtran cut to hold Reuters Story - June 11, 1997 14:47 %ELC %US %HOT %RCH %FCAST %RESF ADTN V%REUTER P%RTR Copyright 1997 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. -- Dain Bosworth said Wednesday it reduced its rating on Adtran Inc to hold from a buy. -- He also cut its earnings estiamtes for Adtran for 1997 to $1.09 a share from $1.20 and for 1998 to $1.46 a share from $1.55. Second quarter 1997 estimates were reduced to $0.22 a share from $0.28, third quarter to $0.29 from $0.32 and fourth quarter to $0.33 from $0.35. -- Dain said earnings estimates were cut to reflect a more difficult environment for Adtran products, including HDSL (high-bit-rate digital subscriber line) and ISDN (integrated services digital network), both of which are used for high-speed Internet connection. -- Adtran shares were off 1/2 to 23-3/8. ((Reuters Chicago Newsdesk (312) 408-8787)) Regards Bob

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