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Technology Stocks : Speedfam [SFAM] Lovers Unite ! -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (2733)	2/8/1998 10:51:00 PM
From: Jason Leonard	Read Replies (1) \| Respond to of 3736

I have a quick request to all who have seen this. It came out tonight and I'm curious about the parts about the 2.7 billion takeover bid?? Am I missing something here??? They're reporting a loss...but are they admitting to a company takeover?????? (I've been away all weekend...I come home...and I see this!!!!! Oh Gezz!!! :-) Good Luck All JJ CORRECTED - AFTER THE BELL - Dealers wait to Reuters, Sunday, February 08, 1998 at 18:53 NEW YORK, Feb 6 (Reuters) - The market waited to trade on the stock of SpeedFam International Inc (NASDAQ:SFAM) in after-hours trading Friday after the semiconductor and computer memory company halted its stock before releasing preliminary earnings results that were lower than expected, dealers said. In the New York Feb 6 item headlined "AFTER THE BELL - Dealers wait to trade on SpeedFam" please read in the seventh paragraph "after the company said it is continuing its $2.7 billion cash and stock takeover bid" instead of "$7.2 billion cash and stock takeover bid." (Correcting value of Cendant bid for American Bankers Insurance Group) A corrected version of the story follows. SpeedFam said it expected third-quarter earnings per diluted share of between $0.30 and $0.32. The First Call consensus earnings estimate for the quarter is $0.39 per share. The company also said it expected fourth-quarter results to be hurt by "factors weighing" on the third quarter, including revenues hurt by slower computer sales and the impact of the Asian financial crisis. "We're waiting to move on SpeedFam,' one dealer said. SpeedFam's stock was resumed over an hour after the market close but remained at its closing price of 27, a dealer said. In the New York Feb 6 item headlined "AFTER THE BELL - Dealers wait to trade on SpeedFam" please read in the seventh paragraph "after the company said it is continuing its $2.7 billion cash and stock takeover bid" instead of "$7.2 billion cash and stock takeover bid." (Correcting value of Cendant bid for American Bankers Insurance Group) A corrected version of the story follows. NEW YORK, Feb 6 (Reuters) - The market waited to trade on the stock of SpeedFam International Inc (NASDAQ:SFAM) in after-hours trading Friday after the semiconductor and computer memory company halted its stock before releasing preliminary earnings results that were lower than expected, dealers said. SpeedFam said it expected third-quarter earnings per diluted share of between $0.30 and $0.32. The First Call consensus earnings estimate for the quarter is $0.39 per share. The company also said it expected fourth-quarter results to be hurt by "factors weighing" on the third quarter, including revenues hurt by slower computer sales and the impact of the Asian financial crisis. "We're waiting to move on SpeedFam,' one dealer said. SpeedFam's stock was resumed over an hour after the market close but remained at its closing price of 27, a dealer said. Overall, after-hours trading was fairly quiet with stocks remaining near their closing prices, dealers said. The stock of Tower Automotive (NYSE:TWR) remained unchanged after it said it would pay $44.0 million for a 40 percent stake in Metalurgica Caterina and had an option to buy the remaining 60 percent for $66 million. The stock closed Friday at 46-5/8. Cendant Corp's (NYSE:CD) stock remained unchanged at 36-5/16 after the company said it is continuing its $2.7 billion (not $7.2 billion) cash and stock takeover bid for American Bankers Insurance Group Inc (NYSE:ABI). The New York Stock Exchange said session one showed volume of 1.44 million shares, compared with 764,400 in the previous day's session. Session two showed volume of 175,200, compared with volume of 4.02 million the previous day. In the New York Feb 6 item headlined "AFTER THE BELL - Dealers wait to trade on SpeedFam" please read in the sixth paragraph ... "after the company said it is continuing its $2.7 billion cash and stock takeover bid" ... instead of ... "$7.2 billion cash and stock takeover bid." (Correcting value of Cendant bid for American Bankers Insurance Group) A corrected version of the story follows. NEW YORK, Feb 6 (Reuters) - The market waited to trade on the stock of SpeedFam International Inc (NASDAQ:SFAM) in after-hours trading Friday after the semiconductor and computer memory company halted its stock before releasing preliminary earnings results that were lower than expected, dealers said. SpeedFam said it expected third-quarter earnings per diluted share of between $0.30 and $0.32. The First Call consensus earnings estimate for the quarter is $0.39 per share. The company also said it expected fourth-quarter results to be hurt by "factors weighing" on the third quarter, including revenues hurt by slower computer sales and the impact of the Asian financial crisis. "We're waiting to move on SpeedFam,' one dealer said. SpeedFam's stock was resumed over an hour after the market close but remained at its closing price of 27, a dealer said. Overall, after-hours trading was fairly quiet with stocks remaining near their closing prices, dealers said. The stock of Tower Automotive (NYSE:TWR) remained unchanged after it said it would pay $44.0 million for a 40 percent stake in Metalurgica Caterina and had an option to buy the remaining 60 percent for $66 million. The stock closed Friday at 46-5/8. Cendant Corp's (NYSE:CD) stock remained unchanged at 36-5/16 after the company said it is continuing its $2.7 billion (not $7.2 billion) cash and stock takeover bid for American Bankers Insurance Group Inc (NYSE:ABI). The New York Stock Exchange said session one showed volume of 1.44 million shares, compared with 764,400 in the previous day's session. Session two showed volume of 175,200, compared with volume of 4.02 million the previous day. Copyright 1998, Reuters News Service