SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : IDT *(idtc) following this new issue?*
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tom Caruthers who wrote (1351)1/11/1999 3:02:00 PM
From: C. McD  Read Replies (2) of 30916
 
FYI - according to Yahoo! thread, news on IDTC downgrade is getting mixed up with IDTI.

Marketwatch reports IDTC was downgraded because their RC? chip prices were decreased by 20%. IDTC doesn't make RC? chips. Also some confusion about whether Credit Suisse First Boston Corp. Analyst Robert Pomeroy ever covered IDTC to begin with. Not sure what's going on, but something is definitely screwed up in Denmark, or NJ, or somewhere.

Here's the Dow Jones news:

11:52 IDT STK-2:Rating CHANGE Follows Pacific Gateway News>IDTC<
NEW York(Dow Jones) IDT Corp. (IDTC) shares were down nearly 16%
Monday after Credit Suisse First Boston Corp. Analyst Robert Pomeroy cut the
company's rating to hold from strong buy.
Pomeroy cited "deterioating pricing and margins in the wholsale long distance
market... we thik IDT's shares may be negatively
affected by the detiorating wholesale market."
The share price could fall to $10 to $15 in the short term, he added.
Pomeroy's note follows an announcement by industry leader Pacific Gateway
Exchange Inc.(PGEX) indicating fourth-quarter
revenue and earnings will fall below analysts expectations. That
company's stock tumbled more than 40% in early trading after Monday's
announcement and recentlywas down 16 1/2, or 36.1% at
29 3/16.
IDT shares were down 2 13/16 or 15.7% at15 1/16 on Nasdaq volume of 2
million, compared to a daily average of 915,900.
-Craig Karmin; 201-938-2020;
(END) DOW JONES NEWS 01-11-99
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News