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To: Captain Jack who wrote (1763)	3/12/2001 2:08:15 PM
From: CIMA	Respond to of 3256

Gilat stock craters after earnings warning (Recasts, updates stock price, adds details, analyst comments) NEW YORK, March 12 (Reuters) - Israeli communications firm Gilat Satellite Networks Ltd. <GILTF.O> on Monday said its earnings this year and next would be far short of what Wall Street expected because of the economic slowdown, sending its stock into a tailspin that erased nearly half its value. Shares of Gilat, whose businesses include earth-to-space communications stations and satellite Internet access, dropped $15-1/4, or more than 48 percent, to $16-7/16 on Nasdaq, where it was the No. 2 percentage loser in mid-afternoon trading. Shares of General Electric Co. <GE.N>, which owns 20 percent of Gilat, were also down $2.61 to $41.20 on the New York Stock Exchange, a decline of nearly 6 percent. Before the start of trading, Gilat reported fourth-quarter 2000 earnings that were roughly in line with Wall Street expectations. But it warned that earnings for 2001 and 2002 would miss earlier targets by a wide margin, blaming its new, less optimistic outlook on reduced and delayed orders. The Petah Tikva, Israel-based company now expects to earn $25 million, or $1 per share, in 2001, and $50 million, or $2 per share, in 2002. Analysts on average had expected $2.43 per share in 2001 and $3.57 in 2002, according to research firm First Call/Thomson Financial. Fourth quarter 2000 earnings, excluding charges, totaled $19.4 million excluding one-time charges, or 82 cents a share, down from $23 million, or $1 per share, a year earlier. Analysts polled by First Call had expected fourth-quarter earnings of 83 cents a share. Including charges related to acquisitions and the write-down of investments in other companies, the company reported a net loss of $10.2 million, or 44 cents per share, compared with a loss of $15.8 million, or 75 cents per share, a year earlier. Goldman Sachs analyst Elan Zivotofsky, who on Monday cut his rating of Gilat to market performer from the recommended list, said: "The earnings for the fourth quarter were in line, but management's guidance for 2001 was significantly below expectations." Gilat Chairman and Chief Executive Yoel Gat said in a statement that reduced and delayed orders caused the revised outlook. Gilat's Spacenet subsidiary, based in McLean, Va., provides two-way satellite-based communications. The profit warning came days after its StarBand joint venture with Microsoft Corp. <MSFT.O> and EchoStar Communications Corp. <DISH.O>, which provides satellite Internet access, withdrew its initial public offering. StarBand pulled the offering on Friday, citing "changed circumstances in the securities markets." ((New York Newsroom, 212-859-1700)) REUTERS

To: Captain Jack who wrote (1763)	3/12/2001 4:37:27 PM
From: Jerry Miller	Read Replies (1) \| Respond to of 3256

back in the '80's the Rolling Stones did a live album called 'Get Yer Ya-Ya's Out!' tune on there called Midnight Rambler. get yourself a copy, turn it up, and have some fun playing air guitar. guaranteed to take your mind off 35. <g

To: Captain Jack who wrote (1763)	3/13/2001 7:56:19 AM
From: Arthur Tang	Read Replies (1) \| Respond to of 3256

Yesterday's action was described on the analysis class for beginners thread. Which is before March 15, the market will be cautious about the tax payment liquidation before April 15. Only beginners will put in stop loss orders ahead of time so that the market makers will take them out by reach down with the bid offers. You have to be diligent to do the liquidation yourself on the same day. Stop loss orders will predict how low the stock will go down. GE chairman can check with the specialist to find out where and how many stop loss orders are priced. Good Luck with this round of pull back. But it happens every year and just look at last year's pull back? In reality, this year many people will not be paying much taxes to have to liquidate some favorite stocks.