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To: Stuart T who wrote (23533)	4/10/2000 9:29:00 PM
From: Stuart T	Respond to of 57584

Agilent Shares Tumble After HP Sets Spin Off Date LOS ANGELES (Reuters) - Shares of Agilent Technologies (NYSE:A - news) fell sharply on Monday after parent Hewlett-Packard Co. (NYSE:HWP - news) late Friday set June 2 as the date for spinning off to shareholders its remaining 84-percent stake. Shares of Palo, Alto, Calif.-based Agilent closed down 16 1/4 to 106 13/16 on the NYSE. The company's shares had climbed 18 1/4 to end at 123 1/16 on Friday. HP said after the market close on Friday that 0.37 shares of Agilent will be distributed on June 2 for each HP share held as of May 2. ``That's a huge overhang -- about 380 million shares that will be hitting the market. In some other tech IPOs there is a thin float and the other shares never come to market,' said Robert Maire, an analyst at Bear Stearns. Diversified technology company Hewlett-Packard sold 16 percent of Agilent, which makes test and measurement products for industries like semiconductors and healthcare, in an initial public offering last November. HP had said it would spin off the remainder of Agilent in June or July. ``People were kind of ignoring it because it was in the future, but now they can't,' Maire said. Hewlett-Packard announced in March 1999 a strategic realignment, creating two separate companies, one retaining the company's name and the other named Agilent. Shares of Hewlett-Packard closed down 5 13/16 at 147 1/4 in New York Stock Exchange trading on Monday. dailynews.yahoo.com