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Technology Stocks : Ascend Communications (ASND)
ASND 206.82+0.6%10:07 AM EST
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To: Skipper who wrote (15725)9/30/1997 7:30:00 PM
From: Kumar Nathan   of 61433
 
Skipper: I dont know how long you have been following this stock. Starting from July, Mory gave an upbeat presentation and said that the sales are strong and positive outlook about Q3 '97 and beyond. After a week he filed a dismal Form 8K. Analysts sensed the picture and started downgrading this stock. It moved from 57 to 32 within one and a half month. If the management is worth the salt they should give an explanation for such a major drop. Instead there was long and irritating silence. Then they gave three presentation to analysts. Never talked about the problems in this quarter. Then went into the so called quite period. Now yesterday they gave a warning. There is one very important point. If the management who lives and breath on this industry and on this company do not have a clue of how the quarter is going to look like, then we got a serious problem. May be an inherent problem in the industry ( answer will be nah.. ) or an incapable managment. I think Mory will be another phil white. If the earnings are going to be 18cents when we use July as the baseline for quarterly projections, then the result will be piss poor.

IMO the management is very dubious and in wall street if you lose your trust then they wont care for you even if youre a superstar. In this instance ASND lost its trust. Also please read bloomberg report. It is very pathetic. Jpe Noel commented everything bad about ASND. he was short of saying Mory is liar.

Regards

Kumar.
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