SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Seagate Technology
STX 288.00-2.0%Nov 11 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: SidStock who wrote (7356)11/22/1999 3:19:00 PM
From: DJBEINO  Read Replies (1) of 7841
 
22-Nov-99 11:34:25 Shares of Seagate Technologies have surged $2 15/16
to $41 11/16 following a positive mention in Barron's over the weekend.
Alec Cutler of Brandywine Asset Management was talking up Seagate,
noting that its stake in the red hot Veritas Software has a value in
excess of Seagate's current price. Cutler also noted that Seagate is
the only major disc-drive maker to be making money and said the stock
is worth at least $70 per share. A quick review of Seagate's 13F
filings revealed that as of 9/30/99, Brandywine owned 2.3 million
shares of SEG with a 400K increase from its June filing. The comments
in Barron's have provoked buying among Big Money investors who are
fueling today's rise. The stock's gains have come amid heightened block
volume, which accounts for about 50% of the 3.7 million shares crossed
today. However, today's 8% rise, combined with SEG's 42% month-to-date
gain, attracted institutional profit takers. These are the investors
behind the super sell messages on I-Watch which has served to cap
today's gains around $42. This level has long been an area of
resistance for SEG - the stock has not closed above $42 since April of
1997 despite bumping up against it in the summer of '97 and the winter
of '99.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News