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Technology Stocks : C-Cor Electronics-CCBL
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To: Jim Oravetz who wrote (207)11/1/2000 12:44:57 PM
From: Jim Oravetz   of 235
 
C-Cor.net Up 24%; Analyst Cites Investors Seeking Value
Dow Jones Newswires

By John Shipman
Of DOW JONES NEWSWIRES
NEW YORK -- Investors seeking value among the stocks of battered cable equipment providers boosted shares of C-Cor.net Corp. (CCBL) Tuesday, one analyst said.

CIBC World Markets Corp. analyst Jim Jungjohann attributed C-Cor.net's gains to value investors searching for beaten-up stocks now that mutual fund tax-loss selling is over.

C-Cor.net rival Harmonic Inc. (HLIT) has seen a 40% gain in its share price Tuesday after it said AT&T Corp. (T) has agreed to use Harmonic's equipment for cable plant upgrades.

Jungjohann said he doesn't see a correlation between Harmonic's move and that of C-Cor.net except to say the Harmonic news may have "woken up value investors to the cable equipment space."

Sally Thiel, C-Cor.net's director of investor relations, noted that the Harmonic news has helped boost the cable equipment sector overall, and may have eased investors concerns about business within the group.

ADC Telecommunications (ADCT) and Scientific-Atlanta Inc. (SFA) were also trading higher. ADC shares are up 19.1% to $21.38 while Scientific-Atlanta stock gained 10.2% to $68.

Shares of C-Cor.net were recently up 23.3%, to $15.88 on volume of 961,30 compared with average daily volume of 681,600.

Jim
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