Any info about Iomega (IOM)? Message Board

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

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To: Erik J. Lupien who wrote (2018)	5/26/1996 8:51:00 AM
From: Erik J. Lupien	of 58324

Friends: the latest WSJ update. A positive bounce back on Tuesday. Submitted just for your information. I trust you will like it. Dow Jones News Service -- May 24, 1996 TITLE: Iomega Shrs Fall 13%; Some Mkt Players Cite SyQuest Drop NEW YORK (Dow Jones)--Shares of Iomega Corp. (IOMG) fell 13%, and some market players said the stock was falling in sympathy with the decline in rival disk drive market SyQuest Technology Inc.'s (SYQT) stock. Other investors also noted that profit-taking was very likely as the stock had soared earlier in the week on a stock split and news of OEM contracts with Acer Group and Packard Bell Electronics. The stock hit a 52-week high of 55 1/8 yesterday; Iomega has skyrocketed over the past 52 weeks from a low of 2 21/64 on May 31. Fitful trading ahead of the long Memorial Day weekend was also cited. ''Stocks like this have wild fluctuations the day before a holiday,'' said analyst Joseph Besecker of Emerald Research. ''More likely than not, it will bounce back Tuesday.'' Iomega fell 6 11/16 to 44 9/16, on Nasdaq volume of 16.3 million shares, compared with average daily volume of 5.2 million. Meanwhile, SyQuest shares fell 39.2% after the company's chief financial officer said late yesterday that the company wasn't involved in any talks as a takeover candidate. The stock has been up earlier in the week on rumors that it might be a takeover candidate. Also, Asensio & Co. issued a sell recommendation on SyQuest There is ''some linkage'' between Iomega and SyQuest although I don't think there should be,'' said Besecker. Iomega's portable disk drive for the consumer market, the Zip, has been very successful while the EZ-135 from SyQuest has had disappointing sales. Regards all, Erik.

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