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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Petz who wrote (62904)	6/23/1999 1:29:00 PM
From: kash johal	Read Replies (1) \| Respond to of 1570553

Petz, I think it will be a sweet and sour announcement. Large loss in $0.70 range IMHO and also sweet news that K7 is shipping: Wednesday June 23, 1:04 pm Eastern Time AMD to host conference call Wednesday SAN FRANCISCO, June 23 (Reuters) - Advanced Micro Devices Inc., Intel Corp.'s main rival in microprocessors, said it will host an analysts' teleconference call Wednesday after the stock market closes, amid expectation of both good and bad news. A spokesman for the Sunnyvale, Calif.-based company could not provide any details about the conference call, which will be held later Wednesday at 5:30 p.m., EDT (2:30 p.m., PDT). Analysts, meanwhile, speculated that the conference call would be an announcement that AMD is shipping its much-anticipated new K7 microprocessor, which has been expected to ship some time this month, combined with an announcement that the second quarter is coming in weaker than expected. ''It's a weird situation because the K7 looks like it's going to be pretty great,'' said Dan Niles, an analyst with BancBoston Robertson Stephens. ''It wouldn't surprise me if it was a K7 announcement, with a pre-announcement.'' AMD's shares were off $1.5625 to $17.6875 in active trading on the NYSE. ''Stocks usually trade well into good news,'' said one technology stock trader. ''It's probably bad news.'' Ashok Kumar, an analyst at U.S. Bancorp Piper Jaffray said he has been expecting AMD to report a second quarter loss that could almost be as large as its loss in the first quarter. In the first quarter, AMD reported a net loss of $128.4 million, or $0.88 a share, including a $15 million restructuring charge, or $0.81 a share, before charges, as production problems and steep price cuts hurt its earnings. According to First Call research firm, the consensus on Wall Street for AMD's second quarter is for a loss of $0.40 a share. Another analyst who asked not to be named said he expected a ''good news, bad news'' announcement, adding that AMD will likely combine the good news about the K7 chip with discussion of weakness in the second quarter, as Intel's price cuts earlier in the quarter have likely caused difficulties for AMD.