The dramatic decline in the share price is entirely due to what's going on at its subsidiary, ... This is a serious distraction from the HSBC takeover arrangement that needs to be resolved.

The dramatic decline in the share price is entirely due to what's going on at its subsidiary. This is a serious distraction from the HSBC takeover arrangement that needs to be resolved.

Republic is going to have to pay the price of what's gone on here. Is that price large enough to kill the deal? The answer at this time is no. But there is a better than 50 percent chance that the offering price has to be lowered.

The decline was mainly brought on by weak profits at our securities subsidiary.

The worldwide market for semiconductors in 2001 is expected to decline 31 percent due to excessive inventories and price pressure on a wide range of products, ... However, recent data indicates inventory is now largely in balance and prices are rebounding in some product categories.

This is really a resumption of the 22-cent decline since the peak price, back on May 21,