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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (3063)	9/18/1998 12:52:00 PM
From: TraderEd	Respond to of 17183

MC VP John Egan to Leave Company; Paul Noble to Succeed Him Hopkinton, Massachusetts, Sept. 18 (Bloomberg) -- EMC Corp. executive John Egan will leave the company after 15 years to pursue other interests, said the leading maker of corporate computer-storage systems. Paul Noble Jr., 42, will succeed Egan as executive vice president of products and offerings. Egan, 40, son of company co- founder Richard Egan, is credited with establishing an aggressive and successful sales team and will continue as a company director, analysts said. Neither he nor the company were available for immediate comment. Hopkinton, Massachusetts-based EMC designs, makes and sells a wide-range of computer-related hardware, software and service products for corporations and governments worldwide. Egan's departure ''is not a positive,'' said Needham & Co. analyst Glenn Hanus, who has a ''buy'' rating on the stock. ''He is vital and has been a key individual in building the company.'' EMC fell 1 to 54 1/16 in late morning trading. Shares have nearly doubled this year. Hanus said he expects the company will meet his third- quarter earnings estimate of 36 cents a diluted share, which is also the average estimate of analysts surveyed by First Call Corp., compared with 25 cents in the year-ago quarter. The company is expected to report the third week in October. Noble joined EMC in 1981, two years after the company was founded, and has held key management positions in sales, customer service and marketing. 12:05:01 09/18/1998 Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1998 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.

To: SJS who wrote (3063)	9/18/1998 12:55:00 PM
From: TraderEd	Read Replies (1) \| Respond to of 17183

EMC Executive, Heir Apparent John R. Egan Resigning, WSJ Says Hopkinton, Massachusetts, Sept. 18 (Bloomberg) -- EMC Corp. Executive Vice President John R. Egan, son of the computer- storage products maker's co-founder and viewed as most-likely to succeed Chief Executive Michael C. Ruettgers, is leaving the company, the Wall Street Journal reported, citing ''people familiar with the matter.'' Egan, 40, now oversees EMC's products and manufacturing operations and for the past 15 years he ran EMC's sales forces. Although Egan couldn't be reached for comment, his departure follows the gradual reduction of his family's holdings and presence at EMC and people say EMC plans to replace Egan with his first cousin, Paul E. Noble, a senior vice president for business development at the company, the paper reported. John R. Egan's father, Richard J. Egan, helped found EMC in 1979 and is chairman. (WSJ 9/18 B5 www.wsj.com) 08:33:43 09/18/1998 Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1998 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.