Network Associates (NET) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Network Associates (NET)

NET 186.94

-7.9%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: AlienTech who wrote (3573)	11/20/1998 1:13:00 PM
From: Just_Observing	Read Replies (1) of 6021

NETA attacked by Hank Greenberg today morning Once again H.G. was on CNBC at 6:25 am EST alleging that accounting at NETA was fishy. When asked to explain, he tried and then got all confused and threw up his hands in despair. I've never seen anything like that. Now here is a guy that Bill Larson can go after for spreading rumors. Anyway, the details are as follows. The SEC is cracking down on companies that upon acquiring other companies keep a reserve in hand. I suppose these are losses that they have claimed in the acquisition. H.G. called it a honey pot. He claimed that in the last conference call NETA had admitted to this practice. Apparently, companies are using these reserves to smooth out fluctuations in earnings. The SEC wants to clamp down on such practices. I was expecting a fall in NETA based on this rumor/speculation. It's happening now. May step in and buy if the selling intensifies. Good Luck

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next