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Technology Stocks : Disk Drive Sector Discussion Forum

WDC 172.26

-2.2%

Dec 31 3:59 PM EST

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To: Thomas DeGagne who wrote (8535)	8/8/2000 1:00:04 PM
From: LK2	Read Replies (1) of 9256

Salomon cuts components makers-RDRT, MXTR, HTCH >>>>> ===== biz.yahoo.com Tuesday August 8, 2000 11:44 am Eastern Time RESEARCH ALERT-Salomon cuts components makers NEW YORK, Aug 8 (Reuters) - Salomon Smith Barney on Tuesday said it cut its ratings on hard-disk drive and component stocks Read-Rite Corp. (NasdaqNM:RDRT - news), Maxtor Corp. (NasdaqNM:MXTR - news) and Hutchinson Technology Inc. (NasdaqNM:HTCH - news), on a recent ``turn for the worse'' in the second half of 2000. In a research note, analyst John Dean said: -- cut Read-Rite to outperform from buy, target price cut to $5.50 in 12 months from $8 in 18 months. -- cut Maxtor to outperform from buy, 12-month target price cut to $7 from $16. -- cut Hutchinson Technology to neutral from buy, cut target price to $16.50 in 12 months from $40 in 18 months. -- it will take longer than previously expected for industry to fundamentally improve. -- Read-Rite shares were down 5/16 at 4-3/8 on Nasdaq; Maxtor shares were down 5/32 at 6; Hutchinson shares were down 11/16 at 14-1/2. Copyright 2000 Reuters Limited. ===== <<<<<

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