jim A. This article may partially backup your brokers statement about the stocks preopen price. It states Novell up 5/8 to 11 1/2.
Wednesday November 27 9:18 AM EST
BEFORE THE BELL - Novell, H.B. Fuller ( HB Fuller Co ) up
NEW YORK, Nov 27 (Reuter) - Novell Inc shares rose ahead of Wednesday's market open on news of quarterly earnings
that matched Wall Street expectations, while H.B. Fuller Co firmed after Merrill Lynch named it a Focus One stock, traders
said.
Meanwhile, Armor All Products Corp rose to 18-15/16 from 17-1/2 on news of Clorox Co $19.09 per share takeover of the
company.
Clorox, which valued the deal at $400 million and said it will be dilutive to 1997 earnings by about two to three percent, made
no moves preceding the market open.
Because of the expected earnings impact, Clorox shares are expected to face limited selling pressure during the regular session,
traders said.
Novell -- up 5/8 to 11-1/2 -- reported earnings last night of $0.17 per share for the fourth quarter ended October 26, even
with the consensus forecast complied by Zack's Investment Research.
The results were $0.01 better than one year ago, while revenues declined to $383.7 million from $480.5 million.
H.B. Fuller added two to 46 on the appeal of Merrill Lynch's naming the stock a Focus One issue.
In other pre-open activity, Intel Corp climbed 3/4 to 124-1/2, Microsoft Corp added 3/4 to 154-1/2 and Cisco traded in line
with its 67-1/4 prior Nasdaq close.
-- Brendan Intindola, Wall Street Desk, 212-859-1734.
Joe N. |
