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Technology Stocks : Silicon Graphics, Inc. (SGI)

SGI 89.96

+1.1%

Dec 18 3:59 PM EST

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To: Don Green who wrote (10239)	7/9/2002 2:08:19 PM
From: Ms. Baby Boomer	Read Replies (1) of 14451

Sure wouldn't been caught holding TYCO, as some well-known fund families... Tuesday July 9, 11:39 am Eastern Time Reuters Market News Silicon Graphics Falls to 8-Month Low NEW YORK (Reuters) - Shares of Silicon Graphics Inc.(NYSE:SGI - News) on Tuesday lost more than one-third of their value, falling to an eight-month low after the specialized computer maker trimmed its revenue outlook on continued sluggishness in technology spending. Shares of Silicon Graphics fell to $1.61, off 84 cents, in late morning trade on the New York Stock Exchange, their lowest level since November 2001. Late on Monday, the Mountain View, California-based company said that for the fourth quarter ended June 28, it will report revenues between $280 million and $290 million. The company had previously forecast revenue in a range of $310 million to $330 million on April 22. The 20-year-old Silicon Valley company -- which has focused on high-end graphics computers after an abortive attempt to broaden its market -- also said it expects to report a fourth-quarter operating loss of $20 million to $25 million. Silicon Graphics' initial fourth-quarter forecast, given April 22, was also lower than what Wall Street was expecting. It had forecast an operating loss that would be in the "low teens or so" millions of dollars. Analysts at the time had expected Silicon Graphics to break even or show a slight profit by the fourth quarter. Silicon Graphics is expected to report fourth-quarter results, along with a forecast for the first quarter of fiscal 2003, on July 25. biz.yahoo.com

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