ADI: The SHARCs are circling! Message Board

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Technology Stocks : ADI: The SHARCs are circling!

ADI 232.19

+0.9%

3:59 PM EST

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To: Mike 2.0 who wrote (1895)	8/9/2000 2:08:14 PM
From: Scrapps	Read Replies (1) of 2882

Wednesday August 9 1:27 PM ET Analog Devices' Stock Rises Ahead of Earnings Report NEW YORK (Reuters) - Shares of Analog Devices Inc. (NYSE:ADI - news), which makes computer chips that transform sound and video into digital data, rose on Wednesday in anticipation of good earnings news when the company reports its third-quarter results next week. Shares of Analog Devices, or ADI, gained 3-1/4 to 66-1/8 in afternoon trading on the New York Stock Exchange. The stock has traded between 22 and 100 in the past year. Wall Street analysts are expecting the company to report profits of 37 cents per share, according to forecasting firm First Call/Thomson Financial. ``Their business ought to be pretty strong right here,'' SG Cowen technology analyst Drew Peck said. ``I think people are taking positions in advance of the earnings.'' The stock also presented a buying opportunity since it was unfairly dragged down by general weakness in the chip sector. ``The linear semiconductor business is booming,'' said Peck, who has a strong buy rating on the stock and is expecting earnings of 36 cents per share. ADI was also expected to report a good future outlook when it released its earnings, said Greg Mischou, semiconductor analyst at UBS Warburg. Mischou, who has a buy rating on the stock, said he was expecting the company to report earnings per share of 37 cents and total sales of $652 million. dailynews.yahoo.com

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