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Technology Stocks : Creative Labs (CREAF)

CREAF 0.470

0.0%

Dec 5 9:30 AM EST

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To: Richard Haugland who wrote (12004)	8/11/1998 1:36:00 AM
From: Richard Haugland	Read Replies (1) of 13925

Creative mirrors gains on Nasdaq SINGAPORE, Aug 11 (Reuters) - Multimedia firm Creative Technology Ltd, which reported weaker-than-expected earnings on Friday, led gainers on Tuesday as it mirrored overnight gains on Nasdaq, dealers said. The shares hit a high of Singapore $19.40 before easing at 0300 GMT to trade at S$18.80, up 50 cents. ''It is moving along with its Nasdaq counterpart,'' said a dealer with a local securities. On Monday, Creative shares ended half a cent up at US$11.00 on Nasdaq. On Friday, the group reported disappointing 1998 results of US$134.8 million versus US$167 million previously. Creative also lowered its revenue projections for fiscal 1999 to between five and 15 percent from an earlier forecast of 20 to 25 percent in a conference call with analysts. Analysts' recommendations, following its revenue revision, were mixed. Some called for a sell as it would ''underperform'' while others called for no action as the stock had already taken a beating on Friday after its results. Creative shares plunged S$1.70 to end at S$18.70 on Friday. biz.yahoo.com

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