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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (4120)	11/18/1997 6:09:00 PM
From: xamir	Read Replies (1) \| Respond to of 7841

ALL BAD NEWS Tuesday November 18, 6:00 pm Eastern Time Company Press Release SOURCE: Seagate Technology, Inc. Seagate Technology, Inc. Second Fiscal Quarter to be Below Expectations SCOTTS VALLEY, Calif., Nov. 18 /PRNewswire/ -- Seagate Technology, Inc., (NYSE: SEG - news) today announced that due to continued weakness in demand for its high performance products and greater than anticipated pricing pressure, it will not meet current Wall Street expectations for its second fiscal quarter ending January 2, 1998. As previously noted in Seagate's October 16, 1997 press release, the Company is currently reviewing its operations worldwide and is contemplating actions which will result in significant restructuring and other one-time charges. These charges are likely to exceed the high end of a range previously estimated to be $50-$100 million. The Company believes it will be marginally profitable for the quarter before any such charges. This release contains forward-looking statements relating to the Company's business, pricing, earnings outlook and restructuring and other one-time charges. These forward-looking statements are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include demand for computer systems, competitive factors, pricing environment, future movements in currency exchange rates, the extent to which facilities and equipment are determined to be excess or unusable for alternative operations of the Company and severance costs to be incurred, if any. Seagate undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Seagate Technology, Inc. is a leading provider of technology and products enabling people to store, access, and manage information. The Company is committed to providing best-in-class products to help people get their information when, where and how they want it. Seagate is the world's largest manufacturer of disc drives, magnetic discs and read-write heads, a market leader in tape drives, and a leading developer of software for information availability, access and analysis. With nearly $9 billion in revenues for its 1997 fiscal year, Seagate can be found around the globe and on the World Wide Web at seagate.com. SOURCE: Seagate Technology, Inc. More Quotes and News: Seagate Technology Inc (NYSE:SEG - news) Related News Categories: computer hardware, computer peripheral, computers, internet

To: Jacob Snyder who wrote (4120)	11/18/1997 6:37:00 PM
From: tom pope	Read Replies (3) \| Respond to of 7841

jacob, i agree with you wholeheartedly in principle, but vanni is addictive. can his next display of "nobody understands me i'm just trying to help" shtick be more moronic than the last? of course not, that last one has to be the absolute top. but vanni unfailingly comes thru with another even more astounding display of puerile petulance combined with unrepressed rage at his fellow investors. so i'm torn. of course it would be wonderful to have a thread that wasn't distracted by inanities. but then i'd miss my daily ration of vann-inanities. and they're special. btw, have you ever been to his thread - lvb? the intro is hilarious in its pomposity, but the best is that the content is almost vanni talking to himself. no wonder he comes over here to find somebody to rail at.

To: Jacob Snyder who wrote (4120)	11/18/1997 7:02:00 PM
From: Vanni Resta	Respond to of 7841

Jacob Snyder, If that post was intended for me, mind telling me what is so rude about trying to warn innocent investors about impending doom at a company? This is now the THIRD time I have been right about an upcoming negative news announcement and downward movement in a stock price (which will occur tomorrow and afterwards). Admittedly, I was pretty close this time, given that I posted the downward revision around 11 am and the news was announced at 6 pm the same day. In the past two cases, I called the bad news and decline in the stock price several days or weeks in advance. This gave people who listened more time to get out of the stock. But unfortunatley, it also allowed more time for the resentment to build, for the rude posts to flow against me, and for the tensions to increase, even though my intentions were good. I think the real problem, as I have pointed out before, is that some people, having convinced themselves they are onto a great investment, just refuse to hear any conflicting news, and get downright hostile when someone presents it. This is a well-recognized shortcoming in groups known as "confirmation bias," or the tendancy of groups that have formed a consensus to reject anyone who presents a contrary point of view, no matter how rational, and how good the track record of the source. To me, the real rudeness is the desperate attempts by some participants to shut down contrary, yet accurate, points of view, since this limits the flow of useful investing information that we all come here for. And personally, I find your desire to torture people quite astonishing and alarming. I can assure you that you have absolutely no capacity to have an impact on the way I feel one way or another no matter how you behave, or what you learned in Vietnam. What you think is simply not relevant to me. I post for people who want relevant investing information. And you will ignore my information at your own peril, if you own stock in these companies, given that I have correctly called three phases of bad news since August (not to mention the trend up from May to August, which I rode). Happy Investing! Vanni