InvestorsHub Logo
Followers 11
Posts 1635
Boards Moderated 0
Alias Born 12/21/2004

Re: None

Thursday, 05/05/2005 11:33:00 AM

Thursday, May 05, 2005 11:33:00 AM

Post# of 326351
Dear Action Alerts PLUS Subscriber,

Why did I first go into Symbol Technologies (SBL:NYSE)?
Because I believe in the secular growth of RFID, radio
frequency technology that will revolutionize the way goods
are distributed throughout the world. I still believe the
growth will be there, but the company has failed to execute.

I spoke with William Nuti, the CEO, last night on my TV
show, "Mad Money." And while I didn't care for all of his
excuses for why profits are falling short of expectations,
I have to admit that selling the stock down here at
Wednesday's closing price of $10.97 would be wrong.

But I won't be adding to my 10,000 shares, either, because
Symbol now has disappointed me twice. Rather, I just have
to believe that the inherent value of the company's bar-
code scanning technology and almost $2 billion of annual
revenue will drive the stock back up toward the low teens,
where I can pare back my stake.

Both Symbol and Tyco (TYC:NYSE) can't be trusted to make us
money anymore. I will look to lighten up on both positions
as they rally because both appear oversold following their
disappointing earnings reports.