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Technology Stocks : Ascend Communications (ASND)

ASND 220.42

+4.9%

Dec 12 9:30 AM EST

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To: Jan Crawley who wrote (54539)	9/21/1998 9:00:00 PM
From: H.A.M.	of 61433

Ascend, 3Com rise on initiations By Krishnan Padmanabhan, CBS MarketWatch Last Update: 6:15 PM ET Sep 21, 1998 Ascend Technologies rose 2 15/16 to 49 1/2 after SG Cowen Securities Corp. rated the company a "strong buy." Analysts Chris Stix and Vijay Rajamani said the networking company (ASND) was likely to meet or slightly exceed earnings expectations of 31 cents a share for the third quarter. Strong ATM switch sales especially in North America were positive for the company and while Japanese sales may be down, China and the Asia/Pacific regions are holding their own, the analysts said. 3Com Corp. shares also rose after bullish comments by the analysts. The largest company in LAN- and WAN-based networking (COMS) was rated a "buy" by Stix and Rajamani. Stix and Rajamani expect the company to meet or slightly beat expectations for the first quarter of 21 cents a share on about $1.4 billion in revenue. Cost reduction activities and an improvement in modem sales were cited for the optimism. 3Com climbed 1 5/8 to 32 1/16. cbs.marketwatch.com

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