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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 60.16-4.2%Jan 16 9:30 AM EST
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To: djane who wrote (4897)5/26/1999 3:36:00 AM
From: djane  Read Replies (2) of 29987
 
Motorola Shares Drop on Speculation of Iridium Charges

Schaumburg, Illinois, May 25 (Bloomberg) -- Shares of Motorola Inc., the world's No. 2 maker of
cellular phones, fell as much as 8.8 percent after a Dow Jones Newswires column speculated the
company have to take several hundred million dollars more in charges if Iridium LLC goes bankrupt.

Motorola fell 6 1/2 to 79 7/8 in late trading of 4.82 million shares. Earlier, the shares touched 78 3/4.

Motorola owns 19 percent of satellite communications provider Iridium, which earlier this month said it
may default on bank loans because it won't meet subscriber and revenue targets. The Dow Jones
column said problems with Iridium and other Motorola satellite projects also could hamper Motorola's
future sales growth. ''If Iridium fails, Motorola would be left with a lot of debt and that has people
concerned,'' said Chris Chaney, an analyst at A.G. Edwards, who rates Motorola ''maintain.''

The company would owe lenders or not be able to collect from Iridium $930 million, the column said.

Iridium shares fell 7/16 to 8 3/4.
NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.

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