Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Vip who wrote (16297)	8/26/1997 10:43:00 AM
From: vinod Khurana	of 42771

Novell heats up on IBM buyout talk Novell shares, surging in their third-consecutive session, jumped more than 13 percent in heavy early trading Tuesday amid speculation of a buyout bid mounted by IBM Corp. . Neither company commented on the talk. The stock's advance comes after the troubled company reported that a 75 percent drop in fiscal third-quarter sales left earnings below Wall Street expectations. Novell posted a loss of 25 cents a share, excluding a charge of 10 cents. Analysts expected a loss of 15 cents, according to First Call. Sales fell to $90 million from $365 million a year ago because the company didn't release any new products into the indirect sales channel. Despite the worse-than-expected loss, analyst Keith Bossey of Robert M. Cohen & Co. reiterated his "strong buy" recommendation on Novell, and said he sees the shares reaching 16 1/2 within the next year. Similarly, the investment bank Dayton Hancock Waltman issued a "strong buy" rating in new coverage on Friday. Novell has been struggling as businesses increasingly turn to Microsoft's Windows NT for their network software. The stock added 1 1/4 to 10 1/4 on volume of nearly 10 million shares. IBM shares fell 1 3/8 to 103 5/8.

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