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Technology Stocks : Lucent Technologies (LU)
LU 2.550+2.4%3:59 PM EST
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To: DiB who wrote (21036)10/24/2002 4:36:36 PM
From: DiB  Read Replies (1) of 21876
 
Good point:

thestreet.com

...Lucent's situation is a bit different. Since the company is likely to continue buying back its convertible bonds using common stock, hedge funds that own the bonds while holding offsetting short positions on the stock are covering their shorts in anticipation of the buyback.

This so-called short rally also coincides with Lucent's somewhat conflicting yet optimistic prediction that it will have a strong second quarter, yet see total 2003 sales drop 20%.
...
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