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Technology Stocks : HS - CHS Electronics -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (671)	6/18/1998 5:58:00 PM
From: Colby	Read Replies (1) \| Respond to of 1494

Besides, won't india be needing a lot of computers to run their newly tested nuclear weapons?

To: Sam who wrote (671)	6/18/1998 6:00:00 PM
From: Gregory Cole Brock	Read Replies (2) \| Respond to of 1494

Indian Fiasco my ass. Here is(below) probably what took us below the 15 support level. It still does not justify this price or anything close to it. We are being manipulated and I still believe our stock will have its day. CHS Electronics Down 17%, Analyst Cites Lower 2Q Rev By Kate Berry MIAMI (Dow Jones)--Shares of CHS Electronics Inc. (CHSE) hit a 52-week low Thursday after Raymond James & Associates Inc. analyst Kristi Thiese said second-quarter sales could be lower than expected. Thiese issued a comment to the brokerage firm's sales force, stating that "based on trends in the quarter, it's likely that sales could be closer to $1.8 billion, versus the current estimate of $1.87 billion." Still, she didn't revise her current revenue estimate. The stock fell 3 1/6, or 17.4%, to 14 9/16 on Nasdaq volume of 4.7 million shares, compared with a daily average of 968,700. Earlier, it sank to 14 3/8, just beyond its previous year low of 14 5/8 set in January. Robert Damron, an analyst at Cleary Gull Reiland & McDevitt Inc. in Milwaukee, Wis., said investors got "spooked" by Thiese's comments, which he said are in line with more reasonable estimates. He expects CHS Electronics to report revenue of $1.84 billion and earnings of 33 cents a share for the second quarter. That would compare with year-earlier revenue of $947 million and earnings of 27 cents, adjusted for a stock split. "There is just a negative perception and aura surrounding this stock," Damron said. Short-sellers, who buy a stock on the belief that its price will decline, have been building a sizable position against the company, amassing about 10 million shares - roughly one-third of the public float of about 30 million shares. Overall, CHS has between 52 million and 53 million shares outstanding. Damron said other issues also may be hurting the microcomputer products distributor, including pricing pressure in the hard disk-drive market, particularly from products sold by Seagate Technology Inc. (SEG) and Quantum Corp. (QNTM). "Some investors are making a correlation that pricing pressure will negatively impact CHS," he said, estimating roughly 20% of the company's products are in this category. "But with pricing coming down, they're achieving more unit growth, so revenue in that category should be strong." Damron said CHS has minimal exposure to the Asian market, which represents just 5% of total sales, mostly to China and Hong Kong. -Kate Berry 305-379-3744; kate.berry@cor.dowjones.com. Good luck to the longs and a hardy well done for the shorts. They have accomplished wrecking the stock on hardly any change in FA. I need a drink. And will state for the record - you are not getting my shares not matter how low an offer you give me. Greg