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Author: math999man Big red star, 1000 posts Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 24  
Subject: Why the price jump ? Date: 8/5/2004 10:09 PM
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I am sure I am not the only one watching GB -


Does anyone know what caused the price jump today in such an overall down market ?

Thanks for any reply.

mathman
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Author: math999man Big red star, 1000 posts Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18 of 24
Subject: Re: Why the price jump ? Date: 8/6/2004 12:30 PM
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Well - a jump one day - does not mean good news for the next day -

Wilson Greatbatch slices 2004 outlook on lower orders (10:09 AM ET) NEW YORK (CBS.MW) -- Shares of Wilson Greatbatch Technologies(GB)sank more than 25 percent to $16 after the Clarence, N.Y., maker of medical device components cut its forecast for the year and posted earnings $4.7 million, or 22 cents per share, on sales of $52.9 million for the second quarter. The latest results include a pre-tax charge of $2.8 million related to severance and patient acquisition costs. In the same period a year earlier, Wilson reported a profit of $5 million, or 23 cents per share, on sales of $55.8 million. The company lowered its outlook to reflect a major customer's decision to further reduce orders for the balance of the year. It now sees earnings of 51 to 58 cents per share on sales of between $195 million and $205 million in 2004, down from a prior projection of $220 million to $230 million. Wilson said it reduced its workforce by 7 percent in June in response to the lower sales view. The average estimate of analysts polled by Thomson First Call was for a profit of 22 cents per share in the June period and $1.05 per share for the full year. The news prompted downgrades from Morgan Stanley and Banc of America.

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