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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (31233)	7/18/2001 12:50:32 AM
From: TWICK	Respond to of 37746

I sure hope I'm wrong. That would really suck, but we've seen tumbles like I plotted many times this year. VRTS down big after earnings. Twick

To: Mike M who wrote (31233)	7/18/2001 7:15:25 AM
From: Bocor	Respond to of 37746

EMC second-quarter profit down 75 percent BOSTON, July 18 (Reuters) - EMC Corp. (NYSE:EMC - news) on Wednesday said second-quarter earnings fell 75 percent, meeting the range of its lowered estimates, as the No. 1 data-storage systems maker cut prices to spur demand for devices that store information generated by computer network traffic. Hopkinton, Massachusetts-based EMC said it earned $109 million, or 5 cents a diluted share. That compared with a profit of $429 million, or 19 cents a diluted share, in the year-ago period. EMC on July 5 warned that earnings would fall between 4 cents and 6 cents a share on revenue of about $2 billion. The lowered outlook, its second in four months, triggered a sell-off that erased about $16 billion in shareholder value. Total consolidated revenue at EMC dropped 6 percent to $2.02 billion in the second quarter, compared with $2.15 billion in the year-ago period. Shares of EMC closed Tuesday at $20.39. The stock is off 69 percent this year, underperforming the 8 percent decline in the S&P 500 Index.