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Technology Stocks : Ericsson overlook? -- Ignore unavailable to you. Want to Upgrade?

To: John Dough who wrote (1528)	4/29/1998 9:52:00 AM
From: DWB	Read Replies (2) \| Respond to of 5390

Overly ambitious expectations..... this is a traditionally weak quarter for ERICY, so all the analysts played leapfrog trying to outdo each other for the highest earnings estimate. They got ahead of themselves, so it's selling off. There's probably some momentum investors also getting out. Nothing for any long term ERICY investor to worry about. DWB

To: John Dough who wrote (1528)	4/29/1998 10:48:00 AM
From: Shoibal Datta	Respond to of 5390

FYI: Ericsson Shares Dive 5.4% On Lower-Than-Expected 1Q Pft STOCKHOLM (Dow Jones)--Shares in Swedish telecommunications company LM Ericsson AB (ERICY) plunged 5.4% in late afternoon trading on the Stockholm Stock Exchange after worse than expected first quarter results. At 1350 GMT, Ericsson was trading down SEK22, or 5.4%, at SEK387.50 from yesterday's close, and down from around SEK402 right before the release of the results. The stock price freefall came after the group posted first quarter pretax profit of SEK2.64 billion, while analysts had expected profit of SEK3.42 billion, according to SIX Market Estimates. Nokia, the other main telecommunications stock listed on the exchange, was down SEK9, or 1.8%, at SEK491, on negative rub-off from Ericsson.