<...this baby is flying bought at $33 now $42 in 3 days any reason why it's going up so fast..>
Relatively unknown participant in a hot sector - combined with no sellers and impatient buyer(s).
Up 5+ on 10K shares? I think we might be a bit overbought <g>....
And others (like C&W - CWZ) are taking notice:
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<A> Cable & Wireless Communications Announces Major Network Expansion
LONDON, England, Feb. 18 /PRNewswire/ - Cable & Wireless Communications has announced a pnds stlg 400 million (approximately $US 650 million) upgrade and expansion of its entire national network to provide world-class, high speed voice and data services.
The network investment, "Network 2000", will provide increased speed, capacity and reliability for corporate and business customers - and produce substantial operating efficiencies for Cable & Wireless Communications.
Network 2000 will be created through a 3 year ground breaking working relationship with telecomms supplier Nortel (Northern Telecom). By sharing research, costs and employees, the two companies will be able to develop a network which incorporates the most up to date technology from around the world.
The investment will increase the capacity of some fiber optic links by a factor of 24 times, compared with those used elsewhere in Europe. This would, for example, allow the entire population of Britain to talk on the telephone at the same time over a single cable. Alternatively, in data terms, the equivalent of 200,000 novels per second could be transmitted.
This increased capacity will enable Cable & Wireless Communications to meet the fast growing demand for services such as the Internet, advanced data applications and digital television.
The network will be controlled from a central site, enabling Cable & Wireless Communications' customers to enjoy unbeatable levels of reliability and service. New products or additional capacity can be provided automatically, cutting out the need - and the consequential delay - for technicians to visit customer premises.
Further cost savings will be achieved through substantially reduced maintenance cost. The major increase in capacity per fiber will mean that less construction and investment is required in the future.
Graham Wallace, Chief Executive of Cable & Wireless Communications, said: "This announcement, following the recent acquisition of the successful Anite data networks company, demonstrates our commitment to lead the industry in the provision of quality voice and data services.
Designed to link with Cable & Wireless' backbone networks around the world, Network 2000 will put us in a leading position to supply advanced services to major corporate customers and telecommunications operators in the most cost-effective way."
Gary Donahee, Nortel's president, Public Carrier Accounts Europe, said: "This technology lets everyone win. Cable & Wireless Communications can give their customers the best, who, in turn, can give their customers the best. This network will be the foundation which enables Cable & Wireless Communications to maintain competitiveness at a time of rapid expansion and liberalization in Europe."
Most of the equipment in the pnds stlg 400 million deal will be manufactured in Northern Ireland where Nortel already employs over 1,100 people.
Nortel in Europe had 1997 sales of $US 3.5 billion, operating both independently and through its joint ventures, primarily with the Lagardre Group in France and Daimler-Benz Aerospace AG in Germany. Nortel employs approximately 16,000 people across Europe in research and development, manufacturing and sales.
Nortel had 1997 revenues of $US 15.5 billion and has approximately 73,000 employees worldwide.
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Steve |
