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Technology Stocks : PMC-Sierra (PMCS) -- Ignore unavailable to you. Want to Upgrade?

To: Bulldozer who wrote (2674)	8/25/1999 2:41:00 AM
From: DOUG H	Respond to of 3818

Thanks for the opinion doz. Wall Street likes the deal too. .................................................... Bank One drops sharply on profit warning PMC-Sierra trades higher; Newbridge Networks flat By Brenon Daly, CBS MarketWatch Last Update: 6:50 PM ET Aug 24, 1999 Also: NewsWatch, Pulse NEW YORK (CBS.MW) -- Shares of Bank One Corp. dropped sharply in post-market trading Tuesday after the company warned that poor performance in its credit-card unit will leave second-half earnings below analysts' expectations. Today on CBS MarketWatch FOMC hikes rates 25-basis points Fed raises interest rates Nortel to acquire Periphonics Trading choppy after Fed lifts rates Net, chip gains rally tech stocks More top stories... CBS MarketWatch Columns Updated: 8/24/99 3:53:24 PM ET The Chicago-based bank (ONE: news, msgs) said after the market closed that earnings for 1999 will come in between $3.60 and $3.65 a share, 7 to 8 percent below Wall Street expectations. Bank One is the country's fifth-largest bank. Bank One blamed sluggish results at its First USA credit-card division. The stock closed off 7/16 at 55 5/8 but fell 16 percent to 48 in the after-market session. PMC-Sierra said after the market closed Tuesday that it'll spend $400 million in stock to acquire privately held Abrizio Inc. Shares in the networking equipment maker (PMCS: news, msgs) closed up 2 11/16 at 98 3/16, but the stock traded up to 102 1/4 in after hours, according to Island. PMC-Sierra is to swap 4.35 million shares for Abrizio, which makes broadband products. Newbridge Networks (NN: news, msgs) traded flat in the post-market session, even though the company topped analysts' expectations. The Canadian-based networking products company posted first-quarter earnings of 18 cents per share, up from 14 cents in the same quarter last year (both denominated in U.S. currency). Analysts expected Newbridge to earn 16 cents per share. Shares of Newbridge closed up 1 5/16, or 5 percent, at 27 9/16 ahead of the release.