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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: Rodney Glover who wrote (777)12/6/1996 3:19:00 PM
From: BILL JAMES   of 5812
 
HotBot - - the WIRED search engine

CAI Wireless Systems Inc (NASDAQ:CAWS) debt pummeled

Reuters, Friday, December 06, 1996 at 13:59

NEW YORK, Dec 6 (Reuter) - Debt of U.S. wireless cable
concern CAI Wireless Systems Inc (NASDAQ:CAWS) toppled more than 20
points on Friday after Bell Atlantic Corp (NYSE:BEL) and NYNEX
Corp (NYSE:NYN) said they will re-evaluate their investment in the
company, traders said.
The debt traded down in steady increments from Thursday's
close of 75 bid, 78 offer to a wide 50 bid, 60 offer market
near mid-session.
Commerce for the debt was moderate early in the session,
but traders said little paper changed hands as the day dragged
on indicating holders were still making bets on CAI.
Bell Atlantic and NYNEX cited the disappointing results
from CAI for offering video to homes spurred the reexamination
of their strategy. The two Bells have invested $100 million in
CAI, which plans to use microwave signals, beamed by line of
sight to wall-mounted receivers, to deliver television signals.
"This is a culmination of what we've been seeing for the
past month and a half which is increasing evidence regional
Bell companies were backing away from wireless cables as a
technology," said Les Levi, telecom and media analyst at
Merrill Lynch & Co Inc.

Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:CAWS
cai wireless systems
NYSE:BEL
bell atlantic corp
NYSE:NYN
Nynex Corp

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