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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Julian Wang who wrote (1853)9/9/1997 5:40:00 PM
From: Jeffrey L. Henken   of 3431
 
Where is Van Wang? We need some decent fundamental analysis on these deals. Unfortunately I am not the guy to help with determining what impact these moves will have on GEMS and Glenayre in general. It seems like too much cash to me. I will try to run a search to see if any analysts have anything to say on the subject. Regards, Jeff

Found this already. It seems the market will like this deal:

AFTER THE BELL - Glenayre (NASDAQ:GEMS) trading higher

Reuters, Tuesday, September 09, 1997 at 17:25

NEW YORK, Sept 9 (Reuter) - Glenayre Technologies Inc was
moving higher in after-hours trading after announcing plans to
divest a unit and acquire two companies, traders said Tuesday.
Other stocks including Tellabs Inc (NASDAQ:TLAB) and
Tele-Communications Inc (NASDAQ:TCOMA) traded in line with their
closing prices following a lackluster day on the stock market,
they said.
Glenayre was up at 17 against a close of 16-7/16 on the
Nasdaq on news that it was going to sell a microwave radio unit
and buy two telecommunications products developers for about
$148 million.
Tellabs was trading at 56-11/16 against a close of
56-13/16. Earlier in the day, it said it did not expect its
third-quarter earnings to beat a consensus estimate among
analysts of $0.33 a share, due to unfavorable currency
translations.
"It's been trading all over the place today," said one
dealer.
The stock's closing price was 5-15/16 lower than the
previous day.
Tele-Communications was at 19-3/8 against a close of
19-7/16.
"It traded a decent amount but it (the price) was not out
of line," said another trader.
Among the larger computer companies, Intel Corp (NASDAQ:INTC)
was hovering at 97-7/8 compared to a close of 97-3/4 on the
Nasdaq. IBM Corp (NYSE:IBM) was moving in line with its close of
100-3/16 in moderately active trading amid concerns that
currency levels could hurt its third-quarter earnings.



Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:GEMS
Glenayre Technologies
NASDAQ:TLAB
Tellabs Inc
NASDAQ:TCOMA
Tele-Communications Sr A
TCI

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