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Technology Stocks : Ascend Communications (ASND)

ASND 206.29

+3.2%

Nov 13 3:59 PM EST

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To: Larry J. who wrote (44526)	4/15/1998 8:22:00 PM
From: Glenn D. Rudolph	Read Replies (2) of 61433

Merrill's Kurlak says Intel could hit $60--CNBC Reuters Story - April 15, 1998 15:46 %ELI %ENT %US %RCH %HOT INTC V%REUTER P%RTR NEW YORK, April 15 (Reuters) - Merrill Lynch semiconductor analyst Thomas Kurlak told clients on Wednesday shares of Intel Corp. could fall to $60, according to business cable television station CNBC. Kurlak, a prominent Wall Street analyst, was not immediately available to comment on the report. The stock ended down 1-1/8 to 74-7/8 after hitting an intraday high of 79-1/8. Earlier on Wednesday, Kurlak downgraded Intel to a long-term accumulate from buy after the company reported first quarter earnings of $0.72 per share, including charges, compared to $1.10 per share in the year-ago quarter. "Clearly Intel is struggling and cannot seem to restart revenue growth despite aggressive price cutting and new product introductions," Kurlak said in a research note. His office said Kurlak saw "additional downside" for Intel shares but declined to give a specific target.

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