Clint,
Look at covd. A big white candle with good volume.
Might move it to my investment account to be with my nxtl and add more if it pulls back.
SANTA CLARA, Calif. (CBS.MW) -- Share of high-speed phone
provider Covad Communications rose more than 28 percent Wednesday
after a big brokerage initiated coverage with an "outperform" rating and
the company announced a $5 million investment in a key equipment
provider.
Morgan Stanley Dean
Witter analyst Peter
Kennedy issued a $60
price target, saying
that Covad "is
extremely well
positioned to take a
significant share of this
fast-growing
(high-speed phone)
market."
Shares of Covad (COVD: news, msgs) surged 11 15/16 to 53 5/16
Wednesday. The stock had reached as high as 81 a few months ago amid
an investor frenzy over so-called DSL providers. The company went
public in late January.
DSL, or Digital Subscriber Line service, involves
the use of new technology to boost the ability of
ordinary copper phone wires to send data and
video at fast speeds over Internet and other
connections.
To that end, Covad also announced its investment
in privately held Efficient Networks, which makes
equipment used by businesses to operate DSL
service. Covad said the convertible note it
purchased can be translated into common shares
once Efficient undergoes an initial public offering.
Efficient, based in Dallas, will also become Covad's
primary supplier, and the two companies will
collaborate on the development of next-generation
DSL technologies.
"This alliance will meet the growing demand for
today's always-on, higher speed access, and
tomorrow's promise of delivering media-rich
applications," said Robert Roblin, Covad's vice
president of marketing.
PS Just saw brcm close above 140+ How can I miss this one? Shortsighted?
Did you play strm? And what are your favorite stocks these days?
Iris |
