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July 23, 1990

STORAGE TECHNOLOGY’S SHARE PRICE FALL STILL REMAINS A MYSTERY

By CBR Staff Writer

The turbulence in Storage Technology Corp’s share price on Friday remains a mystery and the company says it is still comfortable with analysts’ full-year 1990 earnings estimates, which are in the range of $2.25 to $2.40 a share: the company indicated that depending on what, if anything, results from uncertain orders in a couple of geographies during the third quarter, we may end up being at the low end instead of the high end of the Wall Street range – the company is experiencing lower-than-expected demand in both New England and Old England or rather UK – markets, but the rest of the US market is on plan and demand in France and Germany is especially strong, it said.

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