ELON, one of Volt's picks should be owned.
from Marketwatch:
Not a word: One of the most rapid moon-shots of any U.S. stock this month has been Echelon (ELON: news, msgs). Cisco Systems (CSCO: news, msgs), whose CEO John Chambers has long been a fan of the obscure Palo Alto, Calif., maker of control networks, last week certified an Echelon Internet server that connects everyday home and work devices with the World Wide Web. The shares have almost tripled since the end of January. Sun Microsystems (SUNW: news, msgs) is another company that believes in Echelon's interoperable control systems. At one technology show in Ls Vegas, Sun CEO Scott McNealy showed how Echelon's LONWORKS' product could be used to connect a mobile phone with a door bell, thus letting a mon or dad track the kids after school.
In September 1998, we pointed out how Echelon CEO Ken Oshman was buying shares of the company -- when they sold for around 7 -- in the open market. The Nasdaq shares Monday morning rose more than 25 points to a high of 87 7/8. The stock has made this monstrous move, giving Echelon a market cap of $3 billion, with nary a word from the financial press.
---------Cisco Certifies Echelon's i.LON 1000 Internet Server
Breakthrough Product Connects Everyday Devices to the Web
PALO ALTO, Calif.--(BUSINESS WIRE)--Feb. 24, 2000--Echelon Corporation (NASDAQ: ELON - news) today announced that its i.LON(TM) 1000 Internet Server has successfully completed worldwide field trials and has achieved certification by Cisco Systems under the Cisco NetWorks(TM)Program. The i.LON 1000 Internet Server is a breakthrough new product that enables millions of everyday devices networked with Echelon's LONWORKS© technology in homes, buildings, factories, and transportation systems to become part of the Web. In so doing, the i.LON 1000 paves the way for a wide range of new Internet-based markets and applications for industry and consumers alike.
The Cisco NetWorks Program is a technology licensing program that incorporates Cisco Network Foundation technologies and other enabling technologies into network access devices such as IP phones, cable modems, set-top boxes and residential gateways. Cisco will be showing a demo of the newly NetWorks-certified i.LON 1000 in its booth at CeBIT 2000, the world's leading showplace for information technology, telecommunication, and office automation that will take place in Hannover, Germany from February 24 through March 1. |
