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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Frederick Smart who wrote (16520)8/27/1997 9:27:00 AM
From: Daniel Martini   of 42771
 
BEFORE THE BELL -

August 27, 1997 09:01 AM

NEW YORK, Aug 27 (Reuter) - Shares in athletic footwear company Nike Inc eased in quiet pre-opening trade Wednesday after a report that company insiders sold Nike shares last month.

Nike was trading at 55, down from its Tuesday close at 55-3/16, and was a standout in a listless market.

The Wall Street Journal's "Heard on the Street" column said 12 Nike executives, including the company's president and chief financial officer, sold 467,492 shares in July at prices ranging from about $59 to $63 a share.

Novell Inc NOVL was trading up slightly at 10, from a Tuesday close at 9-31/32, and International Business Machines Corp IBM rose to 103-1/2 from a close at 103-5/16.

The companies have refused to comment on rumors that IBM may be interested in buying Novell.

MCI Communications Corp MCIC eased to 28-13/16 after J.P. Morgan continued to rate the stock as "market performer."

Savannah Foods and Industries Inc SFI was bid at 16-1/8, up from a Tuesday close at 15-1/16, after Imperial Holly Corp IHK made an unsolicited bid to buy Savannah for $497 million.

Among other technology stocks, Compaq Computer Corp CPQ was trading at 65-3/4, up from a close of 65-9/16.
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