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Technology Stocks : Newbridge Networks

NN 16.41

-1.7%

Dec 12 9:30 AM EST

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To: Claude Robitaille who wrote (3836)	3/20/1998 10:54:00 AM
From: Claude Robitaille	Read Replies (1) of 18016

Post says rival wins contract Newbridge Networks Corporation NNC Shares issued 173,670,862 Mar 19 close $38.85 Fri 20 Mar 98 In the News The Financial Post reports in its Friday edition that shares of Newbridge Networks fell on Thursday on news it did not win a supply contract with Deutsche Telekom AG. Reporter Jill Vardy says, however, that the stock partly recovered as word got out the deal was not one the company or its analysts consider key to the future of its asynchronous transfer mode business. The contract, which went to competitor Fore Systems, was described by Newbridge as a "recycled reseller agreement" that allows Deutsche Telekom to sell Fore's ATM switch to its customers. The German company has a similar deal with Northern Telecom. It was not one of several major ATM contracts due to be awarded by Deutsche Telekom, Cable & Wireless PLC and other major telecommunications companies in the months to come. Still, it rattled markets, which drove Newbridge stock down in Toronto and New York. The shares fell sharply but recovered toward the end of the day, to close at $38.85, down $2 in Toronto. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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