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Technology Stocks : WDC/Sandisk Corporation
WDC 187.87+0.1%3:59 PM EST
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To: Sam who wrote (8683)1/14/2000 3:53:00 PM
From: Bargain Hunter   of 60323
 
SNDK didn't sell anything and didn't receive any cash. They just traded their pre-merger USIC stock for post-merger UMC stock. They either had to, or elected to, update the basis of the investment to the value at that time.

The important point here is that next quarter's earnings will be artificially high. That could generate some attention from those who read the "upside surprises" list, at least until people discount the one-time gain. But, no matter what, it will depress the sky-high P/E ratio.
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