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Technology Stocks : ADC Telecommunications
ADCT 4.010+2.6%Feb 6 9:30 AM EST
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To: Jay Mowery who wrote (979)8/29/2000 7:13:28 PM
From: Rainmaker  Read Replies (1) of 1944
 
Jay and FB, my thoughts on the recent downdraft:

1) 2 splits in one year --> January 2000 = $80; split Feb; July 2000 = $80; split July. That's some nice profits there. Some funds (especially ones index-locked) need to maintain a proportional portfolio. With ADCT's stellar performance so far this year, there was likely some adjustments that had to be made going into the last quarter for some funds (Oct. 2000 beginning a new year). Jay estimated 150M shares changed hands over the past two weeks following earnings release. That's roughly 25% of the float.

2) HLIT rumors did not help - this acquisition, if it happened, would be dilutive to earnings and a major bane given the LONG string of legal liabilities associated with HLIT.

3) production concerns that analysts do not fully believe would be solved, even with assurances of increased capacity.

4) general sector downshift in price [see LU, TLAB, JDSU, SCMR] particularly following earnings release.

5) uncertainty with VZ strike.

6) uncertainty with buying power of CLECs given lower stock prices.

7) Uncle Al and general market nervousness/uncertainty.

8) The Hampton Effect.

I'm sure there are other "reasons." Just looking forward to seeing us move to $50 and higher.
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