Compaq Message Board - Msg: 17290696

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Technology Stocks : Compaq

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To: PCSS who wrote (96845)	4/5/2002 11:23:46 AM
From: Night Writer	Read Replies (1) of 97611

11:00 ET Dow +53, Nasdaq -11, S&P +0.12: [BRIEFING.COM] The storage sector has been on the defensive all morning following an earnings warning from sector component McDATA (MCDT -21.8%). The company warned again last night almost one month to the day since its last warning. McDATA now sees a first quarter net loss in the range of $0.04-$0.07 per share versus the current consensus estimate for a net loss of $0.03 per share. First quarter revenue should be $62-$64 million versus the current consensus estimate for revenues of $75.3 million. The company cited a lack of orders from its biggest customer as the main reason for the shortfall. However, it's no secret that McData was referring to EMC Corp. (EMC -3.5%), which represents 60% of MCDT sales and revives concerns that EMC had a disappointing quarter.

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