Adaptec (ADPT) Message Board

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Technology Stocks : Adaptec (ADPT)

ADPT 18.35

+0.5%

11:44 AM EST

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To: Charlie Smith who wrote (1078)	2/20/1998 9:21:00 PM
From: Starowl	Read Replies (1) of 5944

Charlie: Your comment on the $10 million drop in revenues in drive related products is news. Did you listen in on the conference call? That certainly makes the rating downgrade understandable. In fact, I am not at all surprised by the cautionary statements we read today. It is a major deal, it took everyone by surprise, and substantial cash reserves that stuck out as a padding for problems suddenly will disappear. Sharp changes such as those spook the market and invite prudence from firms responsible for rating debt or short- or long-term prospects. We all would like to see a quick rise in stock price, but there is nothing to justify that right now, in my view. The announcement kicked up lots of dust that needs to settle. It may take some time. Starowl

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