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Technology Stocks : Silicon Graphics, Inc. (SGI)

SGI 92.68

-2.1%

Jan 23 9:30 AM EST

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To: Ms. Baby Boomer who wrote (8918)	7/10/2001 12:28:18 PM
From: Don Green	Read Replies (1) of 14451

Salomon cuts Silicon Graphics NEW YORK, July 10 (Reuters) - Salomon Smith Barney on Tuesday said it cut its investment opinion on shares of Silicon Graphics Inc. (NYSE:SGI - news) a day after the network computer maker said it would review business plans following a slowdown in bookings. Salomon also noted the departure of Silicon Graphics' chief financial officer in its rating cut. Analyst John Jones downgraded the stock to an ''underperform'' rating from a ``neutral'' rating. Salomon lowered the target price on Silicon Graphics to $1.00 per share from a previous target of $4.00. The firm also changed quarterly estimates for Silicon Graphics. Salomon now pegs the company at a loss of 31 cents per share for the fourth quarter, wider than a previous estimate of 15 cents. For the full year, the firm expects Silicon Graphics to post a loss of $1.62 per share versus an old estimate of a loss of $1.46 per share. Shares of Silicon Graphics fell 35 cents to strike a new low of 89 cents in early Tuesday trading, off a year high of $5.13.

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