Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: William Epstein who wrote (6349)	12/1/1998 8:04:00 PM
From: Ben Wu	Read Replies (2) \| Respond to of 7841

OT - So what's Al Shugart doing now? new PC-week article: zdnet.com Off the Cuff Catching up with hard-driving Al Shugart By Michael R. Zimmerman November 30, 1998 2:47 PM ET That dog thing still really cracks me up... =) -Ben

To: William Epstein who wrote (6349)	12/1/1998 9:03:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 7841

Western Digital Rises After CEO Says Outlook Improves Bloomberg News December 1, 1998, 4:10 p.m. PT Phoenix, Dec. 1 (Bloomberg) -- Western Digital shares rose 37 percent after the company's chairman told some investors at a conference that the outlook for its products was improving. Chief Executive Chuck Haggerty told an audience of selected investors at the CS First Boston Technology Conference in Phoenix that the company's inventories have been whittled down and it is increasing its market share with personal computer makers. Haggerty also said Western Digital will ship products using International Business Machines Corp. technology earlier than expected. The shares of Western Digital, the third-largest independent computer disk-drive maker, rose 4 13/16 to 17 7/8. Other disk drive makers also rose, with No. 1 Seagate Technology Inc., which didn't present at the conference, rising 2 1/4 to 31 3/4. Quantum Corp. rose 1 3/4 to 23 7/8. Quantum gave a presentation at the conference earlier today. Not all investors were invited to the conference, and only a handful of journalists were permitted to attend. Bloomberg News and other wire services were barred from attending the presentations. ''I am a little upset. There is a real problem here if they exclude people,'' said Jerry Dodson of the Parnassus Fund, which is the 10th-largest shareholder of Western Digital. He wasn't invited to the conference. ''They should have told us they were going to make an announcement. This gives preference to First Boston customers.'' CS First Boston said it only invited a few news organizations because some of the companies said they wouldn't be as open if there were reporters in the presentation. Cheryl Popp, spokeswoman for CSFB, said she ''surmised the reason why'' wire services weren't invited to the conference is because the presenting ''CEOs want to get their information to investors like Fidelity before it goes to the wires.'' ''With the wires there, people are not as open as they would be otherwise,'' Popp said. Western Digital's CEO also said he is comfortable with analysts estimates for a loss of $1.01 a share in the fiscal second quarter ending in December. ''We're comfortable with where things are at now,'' Haggerty said. Western Digital, along with other disk-drive makers, has struggled with excess inventory, falling prices and accelerating changes in technology.