ACTM $100 Million Cable Modem Contract with MOT Message Board

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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT

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To: Rob Preuss who wrote (1116)	10/21/1999 10:38:00 AM
From: Rob Preuss	Read Replies (1) of 1250

Ok. I'm confused. On 9/30 CIBC World Markets reiterated a "strong buy" recommendation and raised the target price to $33/share. On 10/20 ACTM reported $0.28 EPS when the consensus estimate was $0.23 (low was $0.22, high was $0.26). Overall, ACTM had lots of good news: strong orders, plans for expansion and growth, good execution. But this morning we're trading down 2 points at 26+3/4. Is this a case of "buy the rumor, sell the news"? Can we blame it on the fact that the whole market is down?

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