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

To: Robert who wrote (12244)	7/13/1999 7:25:00 PM
From: pat mudge	Respond to of 18016

Do you never say things that sometimes you regret... Yes. But I'm not a fund manager and don't play with other people's money. Pat

To: Robert who wrote (12244)	7/13/1999 9:12:00 PM
From: zbyslaw owczarczyk	Respond to of 18016

Ottawa, July 13 (Bloomberg) -- Newbridge Networks Corp. shares fell 8.5 percent amid concern the Canadian maker of computer-networking equipment won't meet fiscal first-quarter earnings estimates. Newbridge fell C$3.65 to C$39.50 (US$26.67) in trading of 1.96 million shares, almost triple the three-month daily average. Trading in the shares was halted in Toronto and New York this afternoon. Financial news service CNBC reported BancBoston Robertson Stephens and Merrill Lynch & Co. analysts told some clients Newbridge may not meet expectations for the quarter ending July 31. Newbridge said it's unaware of anything inside or outside the company that could have caused the stock decline. Both Robertson Stephens and Merrill Lynch denied the CNBC report. Merrill said it has no new guidance from Newbridge, and Robertson Stephens analyst Paul Silverstein said he expects first- quarter earnings to meet expectations, though weaker demand this month could hurt the company's chances of beating estimates. Newbridge is expected to earn C$0.16 in the quarter, the average estimate of analysts surveyed by IBES. It earned C$36 million, or C$0.20, in the year-earlier period. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. ---------------------------------------------- Well, we had holiday time at the beginning of the July and Europe,the big market for NN, started vacation time. Demand in July and August was historically weaker. Zbyslaw