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Technology Stocks : Newbridge Networks
NN 12.24-2.9%Nov 13 3:59 PM EST
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To: pat mudge who wrote (11951)6/22/1999 8:30:00 AM
From: New Economy  Read Replies (1) of 18016
 
Globe says more shakeups expected at Newbridge
Newbridge Networks Corp NNC
Shares issued 176,877,357 Jun 21 close $45.80
Tue 22 Jun 99 In the News
The Globe and Mail reports in its Tuesday, June 22, edition that the latest senior shuffle at Newbridge Networks is expected to trigger further operational changes as the company attempts to fix its debilitating supply problems. The Globe's Simon Tuck writes that Bruce Rodgers, vice-president of operations, has resigned to take another post within the company or one of its affiliates. Allan Lutz, Newbridge's president and chief operating officer, will temporarily take over Mr. Rodger's role. Newbridge is eyeing three candidates for the position and will make an announcement next month.
Newbridge says more changes can be expected. Newbridge says it is already working on fixing its supply problems. The shuffle comes as Newbridge tries to fix operational problems that have prevented the company from reaching analysts' earnings expectations the past two quarters. Despite its size and experience, Newbridge says it lacks the components to fill some orders quickly, particularly those placed near the end of a quarter.

This should explain the movement in the stock yesterday.
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