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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: raymond marcotte who wrote (10476)	11/22/1997 8:18:00 AM
From: fut_trade	Read Replies (2) \| Respond to of 12298

<<why all of the excitement about the block trades? it looks like the institutional holders are trying to exit their positions as quickly as possible.>> I don't really follow this thread or APM anymore. I guess someone sees a high short interest and low P/E and large block trades as a short squeeze, even if the price is declining at the same time. ...GOATS Read-Rite Corp. (Nasdaq:RDRT - news) lost $1 3/4 to $17 1/2 after the manufacturer of disk drive heads and assemblies announced on Friday afternoon that it plans to reduce production of older thin-film inductive heads to speed its transition to magnetoresistive heads, which will result in lower-than-expected earnings and revenues for its first quarter. Competitor Applied Magnetics (NYSE:APM - news) crumpled $3 5/8 to $17 3/4 after being trashed in this weekend's Barron's as well as on perceptions that an acceleration in the competitive environment will hurt the company.