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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: chic_hearne who wrote (96546)	4/19/2001 6:44:47 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

One thing is clear...this has set up as the MOST explosive clowntrap in U.S. market history. Only question is who is being trapped...bullClowns or bearClowns?

To: chic_hearne who wrote (96546)	4/19/2001 7:33:31 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

GTW misses, warns, takes enormous charge (probably be up 20% tomorrow..."bad news is out"): quote.bloomberg.com 04/19 17:45 Gateway's 1st-Qtr Loss From Operations Is 1 Cent (Update4) By Peter J. Brennan San Diego, April 19 (Bloomberg) -- Gateway Inc., the second- biggest direct-seller of personal computers, said it had a first- quarter loss because of falling sales and charges for bad loans, an acquisition and to close stores. The loss from operations was $6 million, or 1 cent a share, compared with net income of $119.6 million, or 36 cents, in the year-earlier period, Chief Financial Officer Joe Burke said. The result met the average estimate of analysts surveyed by First Call/Thomson Financial. Sales fell 15 percent to $2.03 billion. Gateway founder Ted Waitt returned as chief executive Jan. 29 after one year, firing CEO Jeff Weitzen. The company reduced its profit estimate in February to break-even and said it would return to profitability in the second half. Other PC makers such as Dell Computer Corp. and Compaq Computer Corp. also have said they expect first-quarter earnings lagged year-earlier results. Gateway had a pretax charge of $533 million that included writeoffs for bad loans, the $140 million acquisition of NECX Direct and $75 million to close stores. Burke didn't provide an after-tax result. The company also had an after-tax charge of $24 million from implementing new accounting rules. The charges made a loss of $502.9 million, or $1.56 a share. The company had no charges or gains in the year-earlier quarter. Shares of San Diego-based Gateway rose 72 cents, or 4.2 percent, to $18.02 in regular U.S. trading. They fell as much as $1.02, or 5.7 percent, to $17 in after-hours trading. Dell is the biggest direct-seller of PCs. (Gateway began a conference call at 5:30 p.m. New York time to discuss its results. To listen, go to gateway.com.)