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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (27311)	3/24/1999 8:17:00 AM
From: MythMan	Read Replies (1) \| Respond to of 86076

telecon's now suck -g- >>Ericsson fell 11 kronor, or 5.8 percent, to 179, its lowest this year, to lead the decline by both the Dow Jones Stoxx index and the OMX. The world's third-largest mobile-phone maker said yesterday profit will fall in the first quarter, repeating a warning it made in January. ''We're in a market environment where bad news like this from Ericsson is being highlighted,'' said Adrian Taylor, who helps manage about 4 billion pounds ($6.6 billion) at Capel Cure Sharp. ''This is really confirmation of what we knew before.'' Analysts at Morgan Stanley, Dean Witter & Co. cut their recommendation on Ericsson to ''neutral'' from ''outperform.'' They said they expected the stock to fall to 150 kroner, although they didn't say when. ''What we warned of is now reality,'' said Johan Fant, the corporate controller, on a conference call yesterday. Ericsson blamed slowing sales growth and rising costs for introducing new phones and restructuring the company. << quote.bloomberg.com