EMC How high can it go? Message Board

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Technology Stocks : EMC How high can it go?

EMC 29.05

0.0%

Sep 15 5:00 PM EST

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To: Tony Viola who wrote (7000)	7/4/1999 6:26:00 AM
From: Nine_USA	Read Replies (1) of 17183

Sun will be competition for EMC in Fibre Channel switches / Storage Area Networks because of this recent deal which sent Ancor (ANCR) up 240 percent in the last month. -- Ancor in pact with Sun Microsystems Networker's stock screams up 37%; switch supply deal By Cecily Fraser, CBS MarketWatch Last Update: 4:52 PM ET Jun 3, 1999 Movers & Shakers Earnings Headlines MINNEAPOLIS (CBS.MW) -- Investors bid up shares of Ancor Communications 37 percent Thursday after the networking company said it signed an agreement to provide Sun Microsystems with its fibre channel 8- port switches. Ancor's (ANCR: news, msgs) stock shot ahead 3 13/16 to 14 1/16 on volume of 5.5 million shares Sun (SUNW: news, msgs) shares fell 11/16 to 56. Specific details of the agreement were not disclosed, although Ancor did say it issued Sun a warrant to buy up to 1.5 million Ancor common shares for $7.30 a share. Vesting of the warrant occurs at the rate of one share for each $67 of revenue received from Sun, the company said. In a statement, Sun said its customers' storage requirements are doubling every nine to 12 months and it chose Ancor because of its ability to meet the needs of current and future interconnect requirements. Ancor makes fibre channel data communications products that can transfer data through fiber-optic cable at speeds up to 1 billion bits per second.

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