For those who have not caught this,well, here it is:
NEW YORK (Dow Jones)--Spyglass Inc. (SPYG) shares are up more than 30% this
week as institutional investors have taken a closer look at the stock.
Shares in Spyglass, a Naperville, Ill., provider of Internet software and
services, rose 3 7/8, or 15%, to 29 13/16 Tuesday afternoon, on volume of 2.6
million, compared with the daily average of 564,161. The stock rose 25%
Monday.
Spyglass Chief Financial Officer Gary Vilchik said he has received an
increasing number of inquiries about his company from institutional investors
in recent weeks. He said institutional ownership of the company had been
relatively low, at about 15%, and suggested that insitutions were looking for
buying opportunities.
Vilchik thinks the interest was sparked partly by the company's Oct. 20
release of third-quarter results. Spyglass reported earnings of 2 cents a
share, a penny higher than the analysts' consensus.
(MORE) DOW JONES NEWS 11-09-99
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