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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject2/28/2001 7:05:49 PM
From: besttrader  Read Replies (1) of 37746
 
After hours, bad news from GTW,LRCX,CC,WCOM,etc. Looks to me that after
seeing all of these layoffs, pretty soon no one will have a job! Thousands of
people a day now!

After Hours Update : -- Update -- Nasdaq most actives after hours (last trade and change from mkt close): COMS 7 7/8 -1 1/4...CSCO 23 1/2 -3/16...JDSU 26 5/8 -1/8...LRCX 20 1/4 -1 1/4. Also Gateway (GTW) last traded at 15.50 -1.20 from mkt close. Other consumer PC stocks: DELL 21 -7/8...AAPL 17 7/8 -3/8...CPQ 19.85 -0.35.

Gateway (GTW) 17.20 +0.48: Company warns for Q1; sees EPS about breakeven before charges; current EPS estimate is $0.17.

Lam Research (LRCX) 21 1/2 -1 1/2: Company warns for March quarter; says revenues could decline as much as 15%

Circuit City (CC) 15.17 -0.33: Company warns for Q4; sees EPS of $0.44; current EPS estimate is $0.46. Company also announced a reduction in staffing levels at corporate and division offices and will take a one-time severance cost of $5 mln in Q4.

3Com Corp (COMS) 9 1/8 +1/8: Company warns for Q3; sees revenues below estimate; current EPS estimate is ($0.14); revenues will be in the range of $625 to $640 mln.

WorldCom (WCOM) 16 5/8 -5/8: CNBC reports that The Wall Street Journal says WCOM is cutting 6-7% of workforce.
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