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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: LK2 who wrote (7763)	1/11/2000 12:48:00 PM
From: LK2	Read Replies (1) \| Respond to of 9256

current quotes: IOM 5 1/1 + 11/16, RDRT 6, + 17/64, DSS 9 1/4, - 2 3/4. From Dec 31, 1999 to Jan 11, 2000-- DSS has gone from 15 1/4 to 9 1/4. IOM has gone from 3 3/8 to 5 1/2. RDRT has gone from 4 3/4 to 6. The secret to making money in the stock market is to find companies that are losing lots of money, but that also say things might be getting better. Just like the Internuts. Regards, Larry PS--You should probably avoid companies that will declare Chapter 11, like APM, until they report a brighter future. PPS--DSS problem is they said they would make less money than they thought, in the current quarter and the next quarter. If they weren't making money, they wouldn't have that problem. >>>>>>>>> ========= app.marketwatch.com Read-Rite shares soar Boosted by narrower-than-expected Q1 loss By Janet Haney, CBS MarketWatch Last Update: 11:57 AM ET Jan 11, 2000 MILPITAS, Calif. (CBS.MW) -- Read-Rite shares soared more than 7 percent Tuesday after the maker of magnetic recording heads reported a narrower-than-expected first-quarter loss. The better-than-expected performance came despite sales that were less than half what the company generated the same period a year ago. The company (RDRT: news, msgs) said late Monday that it lost $57.5 million, or $1.15 a share, compared with a profit of $1.1 million, or 2 cents a share, in the year-ago quarter. Analysts surveyed by First Call expected Read-Rite, based in Milpitas, Calif., to lose $1.19 a share. Sales for the quarter slipped to $114.5 million, down from the year-ago figure of $230.2 million, the company said in an announcement. Read-Rite shares were lifted 21/64 to 6 5/32 on volume of 1.4 million, in recent trading. The company said its transition to giant magnetoresistance technology represented 74 percent of its revenue in the first quarter. The GMR process involves changes in electrical resistance that occur in specific materials located in thin layers of metals. Read-Rite said it shipped in volume to its GMR customers, which include Seagate (SEG: news, msgs), Maxtor (MXTR: news, msgs), Western Digital (WDC: news, msgs) and Quantum (HDD: news, msgs) (DSS: news, msgs). Additionally, Read-Rite said it sees strong demand for its products as it heads into the March quarter and anticipates "strong sequential unit and revenue growth." Janet Haney is an online reporter for CBS MarketWatch. ¸ 1997-1999 MarketWatch.com, Inc. All rights reserved. Disclaimer. CBS and the CBS "eye device" are registered trademarks of CBS Inc. ========= <<<<<<<<<