MRV Communications (MRVC) opinions? Message Board

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Technology Stocks : MRV Communications (MRVC) opinions?

MRVC 9.975

-0.1%

Aug 15 5:00 PM EST

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To: Renee Scherb who started this subject	10/28/2003 9:06:30 AM
From: Greg h2o	Read Replies (2) of 42804

for anyone who was complaining about MRV's convert... JDS UNIPHASE (JDSU) 3S Market Cap: $5,122.8 mil. Daryl Armstrong JDSU is in the S&P 500(R) Index. Estimates New Old Consensus Close (10/27) Next Qtr. ($0.02) ($0.02) $3.58 6/04E ($0.06) ($0.06) ($0.05) Target 6/05E ($0.03) ($0.03) $0.01 $3.50 (No Change) Company To Issue Up To $475 Million In Convertible Debt JSDU announced plans to sell $400 million of Zero Coupon Senior Convertible Notes due 2010 in a private, unregistered offering. Further, the company expects to grant the initial purchasers an over-allotment option to purchase up to an additional $75 million principal amount of the notes. We note that JDSU has historically stayed away from issuing debt and currently has over $1.2 billion in cash and equivalents on the balance sheet. We believe the company chose to pursue this deal due to the favorable terms it was able to obtain. We believe JDSU was able to price these zero coupon converts. at an approx. 38% premium to today's closing share price. With a new CEO, existing businesses under pressure, and accomdating capital markets, we would not be surprised if the company uses these proceeds as a war chest to pursue business development opportunities in the future. *Maintain 3S (Sell, Speculative Risk) rating and $3.50/share price target.

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