Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: who wrote (4288)	7/15/1996 6:16:00 PM
From: Mukti Samal	of 58324

Iomega (NASDAQ:IOMG) slumps, short-seller remarks cited PALO ALTO, Calif. July 15 (Reuter) - Shares of Iomega Corp tumbled 4-1/4, or 16 percent, to 22 on volume of more than 11 million shares, with analysts citing negative remarks by a short-seller amid further pressure on technology stocks. M.A. Berman & Co principal Meyer Berman said on CNBC's Squawk Box program before the market opened that he expected Iomega's second-quarter results to be better than forecast, but he was maintaining his short position because he expected competition to be strong. He also said he thought Iomega would have to sell 90 million of its drives to justify its valuation. WASHINGTON, July 15 (Reuter) - The U.S. Agriculture Department said Monday it will donate up to an extra 40,000 tonnes of wheat to Georgia under Title 1 of the PL-480 Food for Progress program. The existing $20 million agreement for fiscal 1996 will be increased by $10 million for the purchase of wheat and related ocean transportation costs, General Sales Manager Chris Goldthwait said in a statement. -- Washington Commodities Desk (202) 898-8394

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