Europe Gives Lotus The Jitters
Will Europe sink Lotus Development's third quarter? Investors fear the worst after Lotus warned of tough markets in Britain, France, and Spain. From Sept. 15-21, its shares tumbled 9.7%, to 391/2, as analysts noted its sales woes in the face of a strong European personal-computer market. Dean Witter analyst Timothy McCollum believes that Lotus' expected September rebound in Europe failed to materialize. He slashed his earnings estimate by 10 cents a share, to 28 cents.