EMC cuts growth targets

Data storage giant EMC said Wednesday its first-quarter earnings will fall short of Wall Street estimates amid a slowdown in information technology spending. The company also cut its growth projections for 2001.

EMC (emc), one of the tech bellwethers on Wall Street, said earnings for the first quarter will be about 18 cents a share. According to First Call, analysts were expecting earnings of 20 cents a share. Those estimates were cut following EMC's Feb. 22 profit warning. Full story. --Larry Dignan, ZDII