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

To: Doug who wrote (3038)	2/3/1998 5:52:00 PM
From: samson	Read Replies (1) \| Respond to of 18016

So much I hate to use an old term on this (in my opinion) promising company- what kind of "dead (or live) cat bounce" are we expecting tomorrow? Anyone want to forecast?

To: Doug who wrote (3038)	2/3/1998 8:53:00 PM
From: Maverick	Respond to of 18016

BT Alex. Brown lowered its rating on shares of WORTHINGTON FOODS and NEWBRIDGE NETWORKS CORP. Worthington Foods lowered to market perform from buy. Newbridge Networks lowered to market perform from strong buy. (Reuters 10:06 AM ET 02/03/98) * JP Morgan Securities downgraded NEWBRIDGE NETWORKS CORP. to long-term buy from buy. Recently Newbridge Networks Corp said its third-quarter earnings would be much lower than expected and that it would take an unspecified restructuring charge for its money-losing U.S.-based UB unit. (Reuters 10:57 AM ET 02/03/98) * Goldman Sachs said Tuesday it downgraded its rating on shares of NEWBRIDGE NETWORKS CORP. removing it from the firm's recommended list and now placing the stock as a market outperform. Goldman analyst Mary Henry also lowered fiscal 1998 earnings estimate to $0.65 per share from $1.00 per share and fiscal 1999 estimate to $0.75 per share from $1.65 per share. The company estimates third quarter earnings would be much lower than expected and that it would take an unspecified restructuring charge for its money-losing U.S.-based UB unit. (Reuters 11:52 AM ET 02/03/98) NEWBRIDGE NETWORKS said late Monday that 3Q earnings would be much lower than expected and that it would take an unspecified restructuring charge for its money-losing US-based UB unit. Excluding one-time charges and gains, the company said it would earn US$0.07 a share, vs. forecasts of US$0.26 for the quarter ended February 1. Newbridge said its restructuring charge for UB Networks would include severance, costs to close facilities, an inventory writedown, deferred tax assets and a write-off of goodwill. (Reuters 08:37 AM ET 02/03/98) For the full text story, see infobeat.com