Emulex, What Prospects? Message Board

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Technology Stocks : Emulex, What Prospects?

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To: sam who wrote (512)	8/25/2000 2:53:33 PM
From: Peter V	of 788

zdii.com Motorola has concluded the only thing left to do is release the satellites from their orbit, but the company has yet to settle on a schedule. Here's how you can help: Find a target. Motorola is going to handle the destruction of the Iridium satellites. Let's find at least one useful service for Iridium. Give Iridium's backers at least some feeling that their billions weren't entirely wasted. I know, I know -- the satellites are supposed to burn up in the atmosphere or simply stay in orbit. But on the off-hand chance Motorola could bring them down a bit slower, with a gentle touch to hit someone on the head, think about candidates for Those Who Deserve To Have Satellites Dropped On Their Heads. A few ZDII suggestions: [snip] Press release hoaxsters. Some Emulex (Nasdaq: EMLX) longs probably would line up for the chance to drop an Iridium on the person who wrote that fake announcement this morning. That malicious act sliced more than $1.7 billion off Emulex's market capitalization, the least it deserves is a return letter in the form of a metal object that cost tens of millions. News organizations that regurgitate press release hoaxes. No good journalist ever accepts mistakes, but we're all human. I've committed typos, misspelled names and even read the wrong line of a financial statement once or twice, and it bugs the hell out of me that I've done those things. But can anyone be so careless as to run a supposed CEO resignation and SEC investigation without the least bit of checking? At least go to the company's website and make sure the announcement is there. Yet at least two news outfits initially reported the Emulex fakery as fact or at least rumor. You ought to be especially suspicious when the news comes marked as "Internet Wire" -- a real organization, yes, but not one often used by publicly-traded companies to make major announcements. Those are generally reserved for Business Wire or PR Newswire. They've been victims of hoaxes as well, but at least they're something of a standard. People who trade based on PR and headlines. Three words for those folks: do the research. Even a good day-trader does research in the form of chart analysis.

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