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Technology Stocks : Seagate Technology

STX 283.26

-1.6%

4:00 PM EST

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To: Duker who wrote (7285)	6/17/1999 9:23:00 AM
From: DJBEINO	of 7841

Just when you thought it was safe to jump back into the tech sector, Compaq (CPQ) and Western Digital (WDC) both announce major earnings shortfalls. Compaq anticipates it will lose $0.15 per share in 2Q which falls significantly below the First Call consensus estimate of a $0.20 gain. The firm cited operational issues, pc pricing pressures, inadequate revenue growth, and a non-competitive cost structure. Compaq also announced plans for a major restructuring which will result in a charge in 3Q. The last trade on Instinet was $20 1/4 compared to yesterday's close at $22 1/4. * Western Digital (WDC) anticipates its FY99 4Q loss will be wider- than-expected. WDC estimates a quarterly loss between $0.90 to $0.98 compared to the First Call consensus estimate of a 51-cent loss and a year-ago loss of $1.59.

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