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Strategies & Market Trends : LastShadow's Position Trading

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To: tom pope who wrote (11516)	3/26/1999 11:27:00 AM
From: TonyM	Read Replies (1) of 43080

Ah now I know why Micron is going up today. It went down yesterday when it beat estimates: biz.yahoo.com Thursday March 25, 8:28 pm Eastern Time RESEARCH ALERT - Micron estimates slashed SEATTLE, March 25 (Reuters) - NationsBanc Montgomery Securities sharply reduced its fiscal 1999 and 2000 estimates for Micron Technology Inc. Thursday based on expected further declines in chip prices, an analyst said. For the current year ending Aug. 30, the brokerage cut its estimate to $0.05 per share from $0.22, analyst Jonathan Joseph said in a report. For 2000 the earnings estimate was cut to $1.30 a share from $2.35. Joseph said U.S. spot prices for 64Mbs memory chips are in the low $8 range and ''should head rapidly to the $7 range, a new low.'' The brokerage retained its hold rating on the stock. Micron shares closed down $6, or 11 percent, at $47.375 Thursday on the New York Stock Exchange.

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