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Non-Tech : Any info about Iomega (IOM)?
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To: BBG who wrote (52672)4/16/1998 3:47:00 PM
From: RetiredNow  Read Replies (1) of 58324
 
To All:

I firmly believe that tonight IOM will announce dismal losses (around -$.08 to -$.10 per share) as they try to clean up a little. I also believe we will see a decline in sequential revenues, a large increase in inventory, lower sequential cash flows from operations, and a rosy outlook from management. From a fundamental perspective this stock looks dismal. I am out of the money on my $7 1/8 short, but I am betting that I can close with a profit either tomorrow or sometime next week when this stock sinks below $6.

However, even though that's what I hope will happen, you just never know in this market. Both INTC and CPQ reported crappy earnings (albeit in line with expectations) and they both surged in afterhours trading. Reason tells me that tomorrow we may actually see a rise in IOM as fools and hopefuls try to put a positive spin on anything IOM's management has to say. Even so, if there is no truth in the Dell buyout rumor, you can mark my words: inevitably, this stock will sink next week.
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