ASCEND CEO to appear at a conference on Sept. 16.....
Copied from post in AOL
Subject: Tech conf 9-16 & earnings analysis
Date: 12 Sep 1997 23:32:00 EDT
From: Bud7
Message-id: <19970913033201.XAA09196@ladder01.news.aol.com>
I called ASND today to see what i could find out. I'm surprised no-one has mentioned the following. If they have, I was unable to find it on any posts...
Mory Ejabat - Pres & CEO is speaking at a technology conference on 9-16-97. Perhaps this doesn't mean to much to some, but i for one would think some news would come out of that meeting.
On earnings, isn't ASND with a PE ratio at current price $35 better than CSCO? Here is my reasoning for this....You can check "First Call" if you like and see this for yourself...(Also, nothing new to most regular readers, but ASND told me that earnings will be released the second or third week of October).
I will also add that ASND management was polite, courteous and composed. I was told that the four employee's fielding the barrage of calls today were having a tough time returning calls due to the stock action. Apparently, some calls took over 45 minutes. Nuf said on that... On to my analysis of PE's tonite....
When i checked "First Call" tonite, the PE shown for ASND is 29.3 for 1997 based on a share price of $40 and earnings of $1.37. On a current price of $35, the PE goes to 25.5. The PE shown for CSCO was 29.2 on earnings of $2.60, based on a share price of $76. At current price of $72, the PE goes to 27.7.
Of course, the argument now focuses on how far ASND misses. If you stick with the consensus, ASND is ahead. ASND earnings for 1997 will have to drop down to $1.26 from $1.37 to have the PE equal to CSCO.
I've read the discussion of tech problems, (can be fixed if they exist) but also have read about satisfied ASND accounts. Currency concerns, mass hysteria on this board, forecasts of the stock falling to the $20's etc.... analyst downgrades, panic selling.... sounds like my kind of investment opportunity. I like looking at the charts and this one is very interesting. Lot's of volatility. Big moves up are followed by big moves down. It wouldn't surprise me if in the next two month's, there isn't some discussion of a stock buyback, rumor of takeover, earnings improvements...etc...drive this stock back up to $60....
What quality tech stock has stayed down long after a correction of over 50%? I'm buying on Monday (again) and will not be scared out by the Forces of Darkness....
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