JDS Uniphase (JDSU) Message Board

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Technology Stocks : JDS Uniphase (JDSU)

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To: Lane who wrote (11869)	7/25/2000 10:57:45 PM
From: KM	Read Replies (1) of 24042

Worth consideration: This just in. 7/25/00 9:02 PM ET Re. JDSU: Diane Garnick of Merrill's equity derivatives team reports S&P indexers will need 57 million shares -- or 3.7 days of normal volume -- of JDSU to obtain the "appropriate" exposure. What she called "excessive trading" due to short-covering and unwinding of the JDSU-SDLI arbitrage position on July 20-21 was significant enough to meet indexers' demand. "These factors point to a risky close on July 26," according to Garnick. "Given the earnings announcement after the close of July 26, active funds may not wish to extend their holding beyond the close." Additionally, MER estimates index mannagers will need to raise $7.4 billion to purchase JDSU and such activity could pressure the broader index. Just an FYI for the night owls.... none (from realmoney.com - thestreet.com)

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