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Network Associates


was down 69% in preopen


trading this morning. After the close Tuesday, the computer security software company

warned that it would post a fourth-quarter loss of between $130 million to $140 million, excluding certain items, due to reduced orders and a slowing economy. The Street had been expecting a profit of 31 cents per share.

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The company also said it plans to replace chairman and CEO Bill Larson, president and COO Peter Watkins and CFO Prabhat Goyal.

Robertson Stephens

slashed its 2000 earnings estimate to 9 cents per share from $1.01 but raised its 2001 outlook to $1.27 from $1.22.

Shares of Network Associates closed Tuesday at $11.75. They were trading recently on


at $3.62.