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Technology Stocks : Wind River going up, up, up! -- Ignore unavailable to you. Want to Upgrade?

To: Richard Habib who wrote (5807)	7/9/1999 7:58:00 AM
From: agent99	Respond to of 10309

Wind River Shares Fall on Concern Over Demand, Product Delay Bloomberg quote.bloomberg.com Wind River Shares Fall on Concern Over Demand, Product Delay Alameda, California, July 8 (Bloomberg) --Wind River Systems Inc., the maker of software for consumer electronics, fell 16 percent on concern of slowing demand by its customers and a product delay. Shares fell 2 13/16 to 14 5/8 in trading of 6.2 million shares, more than seven times its three-month daily average. Earlier, shares touched 14. The company provides software that runs on embedded chips used in products like microwaves, satellites and cellular phones. Its Tornado for Managed Switches telecommunications software will be delayed by at least two months and demand is light for its Tornado II computer software development product, said Matt Belkin, analyst at Hambrecht & Quist. ``These two issues will compromise growth. From an earnings standpoint, we expect a pretty substantial hit over the next two quarters,' said Belkin, who downgraded Wind River to ``market perform' from ``buy.' After speaking to 35 to 40 Wind River customers, Belkin reduced his earnings estimate for fiscal 2000 to 63 cents, from 73 cents and his revenue estimate for fiscal 2000 to $155 million, from $162 million. Alameda, California-based Wind River had 1998 revenue of $129.4 million. ``We haven't seen anything about demand slowing, and we haven't seen anything that would lead us to delay our revenue numbers,' said Jerry Fiddler, interim chief executive at Wind River. ``I'm not sure what Matt is talking about here.' Belkin said that Wind River will grow faster than the overall stock market and predicts its stock will reach $20 to $22 in a year.