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Technology Stocks : Brightpoint - CELL

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To: SecularBull who wrote (1431)	3/11/1999 8:15:00 PM
From: timroy	Read Replies (1) of 1999

Mar 11, 1999 (6:17 PM ET) - The Motley Fool Evening News Troubles overseas appear to be painting a pretty bleak picture for wireless phone distributor Brightpoint Inc. (Nasdaq:CELL - news) , crushed for a $7 1/16, or 54%, loss to $6 today after warning that it expects break-even earnings for the first quarter -- compared with Wall Street's estimate of a $0.22 per share profit. The company may post disappointing results for the rest of the year as well. Brightpoint's North American division is running well, but the blueprint appears to need some tweaking when applied to foreign shores despite CEO Robert Laikin's assertion that "we view our success in North America as validation of the business model that we are deploying in all of our regions." Among the problems in the company's other areas of operation: difficulty getting enough products in the Asia-Pacific region, the Jan. 13 devaluation of the Brazilian real, and tightened overseas credit policies that may have cost the company sales to more liberal competitors. At least five brokerages downgraded Brightpoint today.

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