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To: David Lawrence who wrote (2635)	7/21/1998 8:24:00 PM
From: DEER HUNTER	Respond to of 5232

More...... NEW YORK (CNNfn) - What looked like another stunning rally in the tech sector completely evaporated in the last two hours of trading. <Picture>Profit-taking knocked the wind out of the Nasdaq Composite, which closed down 35.11 points at 1,979.14. Before Tuesday, the Nasdaq set nine consecutive records. <Picture>And after the close of trading Dow component Hewlett-Packard warned its third-quarter earnings will come in below estimates. The company blamed economic pressures in Asia for part of the shortfall. HP shares (HWP) rose 3-1/6 to 61-13/16 on the New York Stock Exchange. In after-hours action, the stock sank to 57-7/8. <Picture>Computer Associates (CA) also expressed concern about the effects the crisis in Asia will have on its business. After the bell, CA posted earnings that were a penny above Wall Street forecasts. But the software giant warned its revenues and earnings growth will slow over the next few quarters. <Picture> cnnfn.com Full report at this link. DH