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Technology Stocks : Seagate Technology

STX 281.30

-1.7%

Dec 29 4:00 PM EST

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To: Certafied who wrote (4013)	11/6/1997 9:04:00 PM
From: Certafied	Read Replies (1) of 7841

This is an article that was posted in the Fool on AOL: SCOTTS VALLEY, Calif., Nov. 6 /PRNewswire/ -- Seagate Technology, Inc. (NYSE: SEG) announced today that it has settled all disputes with Amstrad PLC. As a result of the settlement, the parties have withdrawn all appeals and ended all litigation between them. The settlement will result in approximately a $22 million reduction against the $153 million charge recorded in the Company's fourth quarter 1997 financial results. This reduction in the settlement cost will be reflected in the Company's results for the quarter ending Jan 3,1998. So Profit and Loss Statement ending 1-3-97 will definitely be showing a plus of $22 Million for the above settelment...a positive news.... Notice the $153m was already accounted in quarter ended June 1997. so the $22M is a surplus....We may have the same thing happening for the "currency hedge"...I mean ending up positive in current quarter.... Good Luck! END POST One good thing doesn't necessarily lead to another. There doesn't seem to be any brightness on the foreign currency hedge based on current available information. Usually after settlements the reductions aren't reduced as expected. Remember attorney's have to make their money to. Don't get overly positive and irrationally exuberant on minor news.

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