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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: vinod Khurana who wrote (18852)	12/2/1997 5:52:00 PM
From: vinod Khurana	Read Replies (1) \| Respond to of 42771

MarketWatch NEW YORK (CBS.MW) -- Disk-drive, chip and networking companies pushed technology stocks lower Tuesday after earnings warnings from Cabletron Systems, Altera and Western Digital. Adding fuel to the fire, influential chip analyst Tom Kurlak of Merrill Lynch said he thinks "the next 12 months for semiconductor stocks will be very rough." The Philadelphia Semiconductor Index shed 6.3 percent of its value, largely on Kurlak's comments. Wednesday may see further losses. After the market closed, networking giant 3Com said it expects only a "slight profit" for its fiscal second quarter. The company was expected to earn 44 cents a share in the quarter, according to a consensus of analysts surveyed by First Call. See Tech Report. The Amex Networking Index fell 4 percent while the High Tech 35 Morgan Stanley Index of major computer-related companies lost 2.9 percent. The Goldman Sachs Computer Hardware Index was worse by 2.1 percent. The CBOE Software Index slipped 1.6 percent. More broadly, the Pacific Stock Exchange Technology Index fell 2.4 percent, while the tech-laden Nasdaq Composite fell 24 to 1606. The Dow Jones Industrial Average managed to rise 6 to 8019, its second consecutive close over the 8,000 level.