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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Jay Parekh who wrote (431)	12/3/1997 1:29:00 AM
From: Marc Schiler	Respond to of 34857

Jay, My sentiments, exactly. The only reason I know of is the fact that Ericson announced a major layoff. This either bodes ill for all cellular providers, or at least means Ericson will be tougher competition. It's a stretch, but it's the only reason I can find. I'm going to start buying more if it hits 75. Regards, MS

To: Jay Parekh who wrote (431)	12/3/1997 6:01:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 34857

NEW YORK, Dec 2 (Reuters) - BankAmerica Robertson Stephens said on Tuesday it cut its 1998 earnings estimate on shares of Nokia Ab, Oy (NOKSa.HE) because it did not think the Finnish telecoms equipment company could maintain margins on phone handsets. -- Lowered 1998 earnings estimate to $3.69 per American Depository Receipt from $3.83 per ADR. -- Said handsets still account for large part of company's business. -- But firm raised 1997 earnings estimate to $3.92 per ADR from $3.63 per ADR. ----------------- In addition, it was a bad day for techs overall. Altera and Western Digital announced earnings shortfalls, and it gets worse: 3Com preannounced after the bell, so I expect today to be another ugly day for techs.