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Technology Stocks : geoworks-gwrx

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To: nick stalin who wrote (53)	3/21/1997 5:30:00 PM
From: ian	of 75

This can NOT be good. What are you guys doing with your positions? Ian NEW YORK, March 21 (Reuter) - Shares of Geoworks Inc plunged Friday on the company's dismal fourth-quarter earnings forecast. Geoworks' lost 4-7/8 to 7-1/8 and was one of the most active Nasdaq issues. Alameda, Calif.-based Geoworks said late Thursday it expects to post fourth-quarter revenues of between $1.8 million and $2.2 million, lower than previous estimates. Geoworks said the shortfall results from delays in recognizing some engineering fees and the adoption of a more conservative approach to estimating product revenues. UBS Securities downgraded the stock to hold from strong buy, citing the expected revenue and earnings shortfall. UBS said Geoworks does not expect to be "bottom-line break even" until the fourth quarter of 1998. Profitability is not expected until the first quarter of 1999. Geoworks makes software and mobile communicating devices for the cellular industry.

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