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Technology Stocks : Nokia (NOK)

NOK 6.080

0.0%

Nov 28 9:30 AM EST

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To: Jay Parekh who wrote (431)	12/3/1997 6:01:00 AM
From: Dwight E. Karlsen	Read Replies (1) of 34857

NEW YORK, Dec 2 (Reuters) - BankAmerica Robertson Stephens said on Tuesday it cut its 1998 earnings estimate on shares of Nokia Ab, Oy (NOKSa.HE) because it did not think the Finnish telecoms equipment company could maintain margins on phone handsets. -- Lowered 1998 earnings estimate to $3.69 per American Depository Receipt from $3.83 per ADR. -- Said handsets still account for large part of company's business. -- But firm raised 1997 earnings estimate to $3.92 per ADR from $3.63 per ADR. ----------------- In addition, it was a bad day for techs overall. Altera and Western Digital announced earnings shortfalls, and it gets worse: 3Com preannounced after the bell, so I expect today to be another ugly day for techs.

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