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Technology Stocks : Covad Communications - COVD

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To: Captain James T. Kirk who wrote (1253)	9/21/2000 8:08:58 PM
From: BillyG	of 10485

Covad a likely takeover target - BusinessWeek biz.yahoo.com September 21, 7:32 pm Eastern Time NEW YORK, Sept 21 (Reuters) - Covad Communications Group Inc. (NasdaqNM:COVD - news), the Santa Clara, Calif.-based broadband services provider, has become a likely takeover target by virtue of its depressed stock price, according to BusinessWeek's Inside Wall Street column. ``There are always all kinds of rumours out there about takeovers and we can't respond to rumours,'' Covad spokeswoman Martha Sessums, said in response to the report. Covad's stock has fallen 64 percent since the beginning of the year and closed at $13-11/16 on the Nasdaq Thursday. That's a shade above its 12-month low of $13-5/16 and 79 percent below its high of $66-11/16. ``We believe Covad could prove a valuable buyout candidate for deep-pocketed Internet, telecom or media players,'' BusinessWeek quoted an analyst at JWGenesis Financial Group as saying.

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