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Technology Stocks : Ascend Communications (ASND)
ASND 205.50-1.5%Dec 5 9:30 AM EST
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To: Glenn D. Rudolph who wrote (16068)10/2/1997 11:12:00 AM
From: hpeace   of 61433
 
glenn, where is this coming from.
I'm getting a dif. picture from the actual announcements and wanted to
check it out
here's one..but almost all the press releases differ from your post.
just trying to explain..don't know
Reuters, Tuesday, September 30, 1997 at 13:26

NEW YORK, Sept 30 (Reuter) - Bankers Trust Alex.Brown said
on Tuesday it cut its rating on shares of Ascend Communications
to market perform from buy.
-- Analyst Jim Wade said he cut his fiscal 1998 estimate to
a range of $1.00 to $1.20 per share from $1.50 a share.
-- The company said its third quarter net income would be
far less than Wall Street expected because of weak sales abroad
and a delay in the introduction of a key product.
-- "People were aware of a possible miss," Wade said. "I
think they were just surprised at the size of the miss."
-- Shares fell 3-1/8 to 32-1/8.

alex brown didn't say hold

9/30/97 8:55 a.m... ASCEND (ASND 35-1/4) SEES LOWER THAN EXPECTED $0.18-$0.20
3Q EPS on $260M-$270M IN REVENUE... VOLPE BROWN DOWNGRADES TO NEUTRAL FROM
BUY... Analsyt Amar Senan tells MarketScope shortfall due to delays in
international rollout of MAX TNT product, softness in demand for access ports
in certain geographic areas... Also notes Q impacted by vacations in Europe
which means labs at telephone cos. were closed... Problem with story is that
co. waited so long to announce shortfall... Notes co. attended Friday's
Montgomery conference, could have mentioned something then... Notes mgmt loses
some credibility... Cuts $1.28 '97 EPS estimate to $1.02, $1.86 '98 to
$1.19./J.Freund
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