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Biotech / Medical : PE Biosystems (PEB)

PEB 11.32

-1.4%

Dec 31 3:59 PM EST

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To: PuddleGlum who wrote (69)	9/6/1998 1:37:00 PM
From: Richard Haugland	Read Replies (2) of 122

PuddleGlum. I was a user for several years of the PKN analytical instruments and that is what I think of the company as. I presume that PKN would focus on its Appllied Biosystems assets and high-throughput assays, which makes the company even more a strong competitor of Amersham Pharmacia (Molecular Dynamics). I believe that growth of PKN's analytical instruments division has been stagnant for some time and that this divestiture would make it a more dynamic company. I am (fortunately) still out of PKN but may buy in early in the week since the stock hit an a new annual low on Friday. Forward P/E is approaching 15. Considering that I am holding a lot of Affymetrix, Millenium, Aurora and similar stocks all with negative earnings I should consider buying a company with some positive returns and potential. However, PKN has had some severe downward reductions in earnings estimates for the current quarter within the past 60 days so this make me worry that they are guiding analysts to some pretty bad results and that the price drop may be deserved. They have also missed even revised earnings estimates for at least the 5 most recent quarters! biz.yahoo.com

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