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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62042)	3/14/2002 12:28:31 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Furukawa Electric Falls as It Reverses Profit Forecast to Loss By Masumi Suga and Miki Anzai 03/13 19:35 quote.bloomberg.com Tokyo, March 14 (Bloomberg) -- Furukawa Electric Co. shares fell as much as 11 percent, dropping for a second day after the biggest maker of lasers used to speed data along fiber-optic lines reversed its profit forecast for this fiscal year to a loss in part because of a decline in the stocks it holds. The shares fell as much as 79 yen to 620 and recently changed hands at 642. That extended a 7.8 percent slide yesterday, when it announced the earnings revision. Tokyo-based Furukawa now expects a group loss of 2.6 billion yen ($20.1 million) in the fiscal year ending March 31, compared with the previous profit forecast of 12.4 billion yen.