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Technology Stocks : Oak Technology (OAKT) -- Ignore unavailable to you. Want to Upgrade?

To: Michael H. Dragon who wrote (3847)	1/22/1998 5:01:00 PM
From: Sparky65	Read Replies (1) \| Respond to of 4335

Today's announcement is just the next step to this company's downfall. First, it is nice to see a share buyback of 2m shares. Personally, big deal. The company has 41m+ shares outstanding. They probably annouced it because they knew that the stock would be hammered tomorrow on the earnings. They are spinning off the one area that long term probably had the best potential for this company's earnings. Now, they will have a loss next quarter. This company is in big trouble. Someone, please tell me why I should invest any money in this company! Now, they are going to add a new president. Interesting that they did'nt say what this guy did for the "Big" companies he has worked for. My guess is that he probably did'nt do anything real special or they would have said something about it. This earnings announcement gives me no reason to purchase their stock. It sure is nice that they want to focus their business on an area that is dying (CD-ROM) and an area that they have'nt even sold any product into yet (DVD). You are better off investing in Indonesia right now.