Kurlak quits Merrill Lynch post - Feb. 12, 1999

News > Technology

Merrill analyst resigns

February 12, 1999: 4:18 p.m. ET

Thomas Kurlak quits post after 20 years to take job at Tiger Management

NEW YORK (CNNfn) - Thomas Kurlak, Merrill Lynch & Co. Inc.'s influential semiconductor analyst, resigned his post effective immediately Friday.
     Kurlak is leaving Merrill Lynch (MER) to head the technology research group at Tiger Management's hedge fund, a Merrill Lynch spokeswoman said. He will also manage Tiger's technology portfolio.
     Kurlak, who had been with Merrill Lynch for 20 years, is one of the most influential chip analysts on Wall Street. A noted bear, Kurlak's comments and recommendations often moved the entire chip sector.
     Last week, amid an expected price war among rival chip-makers Intel Corp. (INTC) and Advanced Micro Devices Inc. (AMD), Kurlak cut his 1999 earnings estimates for both companies, sending the semiconductor sector into a tailspin.
     Merrill Lynch shares fell 2-3/8 to close at 69-5/16 in Friday trade.

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