Here's a list of the days and prices of Vinik's recent purchases:
Vinik Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) commissions, if any)
__________________________________________________________________________
07/11/97 104,000 $29.3488
07/14/97 25,000 29.3125
07/14/97 14,600 29.7054
07/15/97 35,300 29.8638
07/15/97 37,500 29.9497
07/15/97 68,500 30.4441
07/16/97 97,700 30.9840
07/17/97 52,000 30.6425
07/18/97 41,600 29.6469
07/18/97 10,400 30.0000
07/21/97 4,200 29.1250
07/21/97 8,300 30.0625
07/22/97 31,200 29.2792
07/23/97 72,800 28.8786
07/24/97 33,300 28.4688
07/25/97 41,600 27.5250
07/28/97 7,900 26.9411
09/03/97 166,400 29.7914
09/04/97 10,400 29.5000
09/04/97 52,000 30.4040
09/05/97 27,000 29.6827
09/08/97 45,800 29.7301
09/11/97 4,200 29.1250
09/12/97 2,100 28.8750
Page 15 of 17 Pages
Schedule B
Vinik Asset Management, L.P.
on behalf of
Vinik Overseas Fund, Ltd.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) commissions, if any)
__________________________________________________________________________
07/11/97 137,900 $29.3488
07/14/97 33,000 29.3125
07/14/97 19,300 29.7054
07/15/97 46,900 29.8638
07/15/97 49,600 29.9497
07/15/97 91,100 30.4441
07/16/97 129,600 30.9840
07/17/97 68,900 30.6425
07/18/97 55,100 29.6469
07/18/97 13,800 30.0000
07/21/97 5,500 29.1250
07/21/97 11,000 30.0625
07/22/97 41,400 29.2792
07/23/97 96,500 28.8786
07/24/97 44,100 28.4688
07/25/97 55,100 27.5250
07/28/97 10,300 26.9411
09/03/97 220,500 29.7914
09/04/97 13,800 29.5000
09/04/97 68,900 30.4040
09/05/97 35,900 29.6827
09/08/97 60,600 29.7301
09/11/97 5,500 29.1250
09/12/97 2,700 28.8750
Page 16 of 17 Pages
Schedule C
Vinik Asset Management, L.P.
on behalf of the
Discretionary Account
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) commissions, if any)
__________________________________________________________________________
07/11/97 8,100 $29.3488
07/14/97 2,000 29.3125
07/14/97 1,100 29.7054
07/15/97 2,900 29.8638
07/15/97 2,900 29.9497
07/15/97 5,500 30.4441
07/16/97 7,700 30.9840
07/17/97 4,100 30.6425
07/18/97 3,300 29.6469
07/18/97 800 30.0000
07/21/97 300 29.1250
07/21/97 700 30.0625
07/22/97 2,400 29.2792
07/23/97 5,700 28.8786
07/24/97 2,600 28.4688
07/25/97 3,300 27.5250
07/28/97 700 26.9411
09/03/97 13,100 29.7914
09/04/97 800 29.5000
09/04/97 4,100 30.4040
09/05/97 2,100 29.6827
09/08/97 3,600 29.7301
09/11/97 300 29.1250
09/12/97 200 28.8750
I find it interesting that he bought nothing in August, when VVUS hit its short-term low. All 3 million shares bought since July were bought between 27 and 31. Also, the average price he paid for his 7% stake is about $31 per share. For a savvy investor, he seems pretty out of rhythm with the price cycle (or at least the underlings who did buying were out of synch). I do though think he'll be a long-term holder, and all those shares in tight hands and out of circulation could be the bane of the shorts.
FDX announced an EPS of $1.22...I was looking for $1.25-$1.30...the analysts' consensus was $.72. This should mean that FDX gaps upward tomorrow (as long as Wall Street doesn't look upon this as just a fluke because of the UPS strike). The analysts had plenty of time to revise their estimates though, so I think this should be a legitimate earnings surprise. I'm now looking to open up a VVUS position again. I'm not sure how the Vinick news will be received...it was pretty old. I think I'll still be able to buy at around 25 sometime this month. I can't forget that 5 point dip to 19 in July, just a couple weeks before the earnings announcement. |
