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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: cfoe who wrote (73895)	6/14/2000 9:23:00 PM
From: JohnG	Read Replies (4) \| Respond to of 152472

Bear Sterns rating cut per Dow JOnes. JohnG DJ Bear Stearns/Qualcomm -2: Cuts FY 01 EPS To $1.30 Dow Jones News Service ~ June 14, 2000 ~ 2:45 pm EST By Marcelo Prince NEW YORK (Dow Jones)--Bear Stearns analyst Wojtek Uzdelewicz cut his earnings estimates for Qualcomm (QCOM) Wednesday after the company's financial chief made some cautious comments at an investor conference. In verbal comments, Uzdelewicz lowered his fiscal 2000 EPS view to $1.04-$1.03 from $1.08 and cut his fiscal 2001 to $1.30 from $1.40. Analysts surveyed by First Call/Thomson Financial estimate 2000 EPS at $1.08 and 2001 EPS at $1.42. Qualcomm's fiscal year ends in September. He cited three reasons: Slowing business in Korea because of the government's recent decision halting handset subsidies; a later than expected roll-out of its technology in China; and slower-than-expected business from Globalstar Telecommunications Ltd. (GSTRF), a struggling satellite phone service. As reported earlier, Qualcomm Chief Financial Officer Anthony Thornley had discussed the three issues with investors at the Bear Stearns technology conference here. Qualcomm shares stretched earlier losses and recently traded at 74 1/2, down 6 7/8, or 8.4% on volume of 25 million compared with average daily volume of 20 million. -Marcelo Prince; Dow Jones Newswires; 201-938-5244 (END) DOW JONES NEWS 06-14-00 02:45 PM