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

To: Robert Douglas who wrote (1016)	7/16/1999 2:09:00 PM
From: Robert Douglas	Read Replies (1) \| Respond to of 1989

BancBoston Robertson Stephens Lowers Estimates, Maintains Buy Rating on SEG SAN FRANCISCO, July 16 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens data storage analyst Dane E. Lewis today lowered estimates on Seagate Technology, Inc. (NYSE: SEG), while maintaining his Buy rating. Seagate, headquartered in Scotts Valley, Calif., is a leading provider of technology and products enabling people to store, access and manage information. The company is recognized as the world's largest manufacturer of disc drives, and a leading developer of software for enterprise information management. "We are lowering our 2000 earnings-per-share estimate from $1.60 to $0.25, while maintaining our Buy rating," said Lewis. "The company reported operating earnings-per-share of $0.30, which was below our $0.35 estimate and the Street consensus of $0.34. In addition, we expect an operating loss for the September quarter, due to shrinking enterprise-gross-margins and near- break-even-gross-margins in the desktop segment. "We continue to believe that Seagate is by far the best-positioned disk- drive company in the industry and are confident that it will emerge first from the current-industry downturn," said Lewis. "We believe the stock will find solid support in the $25 to $27 range, based on its net-cash position and other equity holdings." Clients interested in receiving more information should contact their salesperson at 415-781-9700. BancBoston Robertson Stephens is a leading international investment banking firm focused on growth companies. The firm's 55 equity and high yield research analysts cover more than 600 companies. Additional information is available upon request. The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in "Investment Risks." BancBoston Robertson Stephens from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested. SOURCE BancBoston Robertson Stephens

To: Robert Douglas who wrote (1016)	7/16/1999 3:34:00 PM
From: Sam	Read Replies (1) \| Respond to of 1989

Speaking of the devil: Gadzoox doubles IPO range to $18-$20 Network device firm to issue 3.5 million shares By William L. Watts, CBS MarketWatch Last Update: 2:42 PM ET Jul 16, 1999 NewsWatch IPO Daily Report SAN JOSE, Calif. (CBS.MW) -- Gadzoox Networks Inc.doubled the price of its upcoming initial public offering to $18 to $20 a share, according to a document filed with the Securities and Exchange Commission on Friday. The maker of hubs, switches and storage area network software still plans to offer 3.5 million shares. The sale equals a 14.2 percent stake in the company and will establish a market value of $467.2 million, based on more than 24.5 million outstanding shares at a price of $19 each. Newstraders.com first reported the story Friday morning. Gadzoox has applied to trade on Nasdaq under the symbol, "ZOOX." Disk-drive manufacturer Seagate Technologies (SEG: news, msgs) and its affiliates will hold a 20 percent stake in the company after the offering, the filing showed. Gadzoox expects to see net proceeds of nearly $61 million, which will be used for working capital, research and development, sales channel development and other purposes. The company, based in San Jose, Calif., saw a net loss of $3.1 million on revenue of $9.2 million in the quarter ended June 30.