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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TGPTNDR who wrote (48261)	2/3/1999 4:37:00 PM
From: Bruce A. Thompson	Read Replies (1) \| Respond to of 1571832

By Tiare Rath, CBS MarketWatch Last Update: 3:59 PM ET Feb 3, 1999 SAN FRANCISCO (CBS.MW) -- Advanced Micro Devices shares tumbled Wednesday afternoon after the chip maker abruptly pulled out two high-profile presentations before money managers. Today on CBS MarketWatch Fed stands pat U.S. stocks step forward E-Trade confirms service problem Net group lifts tech stocks Flashes: VocalTec, Newport Corp. More top stories... CBS MarketWatch Columns Updated: 2/3/99 2:57:50 PM ET AMD (AMD) was scheduled to present Thursday morning at the NationsBanc Montgomery Securities Technology conference in San Francisco, but canceled the presentation without explanation. It also said it won't make an appearance at a Goldman Sachs conference in New York next week. The stock dropped 3 5/8 to 20 11/16 on volume of more than 12 million shares. Spokesman John Greenagel confirmed the schedule change but wouldn't comment further. Chief Financial Officer Fran Barton and its vice president of external affairs, Ben Anixter, were scheduled to attend the conference, according to Greenagel. Atiq Raza, the company's co-chief operating officer, was supposed to make the presentation at the Goldman Sachs conference. Sunnyvale, Calif.-based AMD saw its stock drop 15 percent after the company posted less-than-stellar earnings in mid-January, falling short of Wall Street expectations. Analysts, including those at NationsBanc Montgomery, slashed 1999 profit estimates as a result of the fourth-quarter earnings shortfall. See related story.