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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: Tae Spam Kim who wrote (7293)	6/29/1999 1:35:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 7841

29-Jun-99 11:28:36 Investors are reacting to Seagate Technology's earnings warning today, sending the stock $2 7/16 lower to $27 3/16. The news did not shock the investment community as Seagate's announcement follows similar ones from several of its peers as the pricing environment continues to deteriorate for disc drive makers. Institutional investors are on both sides of the market today, as supported by the strong participation on I-Watch, as well as the strong block volume percentage at 65% of total volume. The most likely buyers creating SEG's floor in the $27 range are value oriented investors who believe the worst case scenario is already priced into the stock and the recent decline is a buying opportunity. On the selling-side are institutional investors with more growth oriented investment strategies who have little patience for earnings and price deceleration - particularly as it happened at the end of the second- quarter while money managers are readying their portfolios for quarterly reports to investors.