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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (2262)	3/25/2001 9:14:01 PM
From: John Pitera	Respond to of 2850

The Tech Market will be closer to the bottom when more co's. buy back stock ala this 50 million NOK share buyback announced on Friday: March 23, 2001 Nokia to Buy Back 50 Million Shares In Move to Finance Future Purchases A WSJ.com News Roundup HELSINKI -- Nokia Corp. said Friday that it will buy back as many as 50 million shares of its common stock, beginning March 30 at the earliest. The world's largest mobile-handset maker, which has about 4.7 billion shares outstanding, said it plans to use the shares to further develop the capital structure of the company, and to finance acquisitions or other ventures. Earlier this month, Nokia further slashed its sales-growth predictions for the first quarter of 2001, but held its earnings-per-share forecast for the period steady. The company cut its sales-growth prediction for the quarter to about a 20% increase from the year-earlier figure of 6.54 billion euros ($5.81 billion). That reduction followed a January announcement that growth in first-quarter sales would fall to between 25% and 30%. However, slowing sales were offset by cost savings and increased margins, and the company said the lower sales wouldn't hurt its previously announced per-share earnings target of 19 European cents. That figure is flat compared with the period a year earlier. Facing a softening U.S. economy and sliding markets world-wide, Nokia's forecast of slowing revenue growth but stable earnings stood in stark relief to the profit warnings from other telecommunications-hardware companies, including Motorola Corp. of the U.S., Telefon AB L.M. Ericsson of Sweden, Alcatel SA of France and Germany's Siemens AG. By trimming costs and capitalizing on its size in the market, Nokia seems to have done better than others at keeping forces beyond its control, such as the global slowdown, at bay. Analysts have said that Nokia's reiteration of its earnings-per-share figure indicates it is managing to keep costs low and margins high.