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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Torben Noerup Nielsen who wrote (16576)	3/5/1998 5:48:00 PM
From: celeryroot.com	Respond to of 32384

I wonder if the SPCA activists know about this. Maybe Fugazi and his Berkley 60's mentality will report. :) Just kidding Fug

To: Torben Noerup Nielsen who wrote (16576)	3/5/1998 7:09:00 PM
From: tonyt	Read Replies (1) \| Respond to of 32384

More good news for biotechs? Motorola Warns First-Quarter Net Will Be Below Street Expectations An INTERACTIVE JOURNAL News Roundup SCHAUMBURG, Ill. -- Motorola Inc. will post first-quarter net income well below Wall Street expectations on sales about even with a year ago, the result of weakness in the currencies of Asian countries where it sells its products. Motorola said outside China, consumer confidence in Asia hasn't stabilized, despite the International Monetary Fund bailout. As a result, Motorola said it is experiencing deflationary currency-influenced price competition that, along with typical industry price pressure and semiconductor-industry slowdowns, produced weaker-than-expected January and February results. Motorola's warnings was the second such announcement in as many days. On Wednesday, Intel Corp. said its first-quarter revenue would be much lower-than-expected due to a declining demand for personal computers. In response, global stock markets fell sharply Thursday, with Intel's shares dropping $10.8125, or 13%, to $75.625. The Nasdaq Composite Index, which is heavily influenced by technology stocks, tumbled 47.78, or 2.7%, to 1711.92. The Dow Jones Industrial Average fell 94.91, or 1.1%, to 8444.33. In New York Stock Exchange trading Thursday, shares of Motorola rose 25 cents to $55.875. The warning was issued after the close of trading. In after-hours trading the stock was at $51.125, down $4.75 from its close. A First Call survey of 29 analysts currently predicts Motorola will earn 47 cents a share in the first quarter ending March 31 and $2.74 a share for all of 1998. In the year-ago first quarter, Motorola earned $325 million, or 53 cents a share, on revenues of $6.64 billion. Motorola said its semiconductor products sector will contribute the most to the expected first quarter shortfall. The sector's consumer systems and components groups have been hurt by soft demand in Asia and increased price pressure in most other regional semiconductor markets as competitors seek to maintain unit volume production and market share during the current period of slower growth. In Asia, the timing of the Chinese New Year also hurt first-quarter shipment potential, Motorola said. The company's cellular infrastructure group is experiencing solid results in sales and orders in much of the world, especially Japan and the Pan America region. But business has slowed significantly in the Asian countries hardest hit by currency devaluations, Motorola said. Although digital-handset products are showing sales momentum, demand is weakening in the U.S., and manufacturers who benefit from the Asian currency devaluation are putting greater-than-usual pressure on global pricing, but especially in Asia. Also, analog-handset sales in the U.S. are declining due to the shift to digital products. Motorola said although it is unable to predict when an Asian economic recovery will take place, it remains fully committed to Asia, and is taking cost-control and capital-spending control measures in the short term.