Ascend Communications-News Only!!! (ASND) Message Board

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Technology Stocks : Ascend Communications-News Only!!! (ASND)

ASND 210.01

+1.7%

Nov 26 3:59 PM EST

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To: Maverick who wrote (343)	10/17/1997 1:21:00 PM
From: Mike Denman	of 1629

Ascend up as buyout rumor surfaces NEW YORK, Oct 17 (Reuters) - Shares in Ascend Communications rose in morning activity on Friday amid market rumors Lucent Technologies Inc (LU) was exploring the possibility of buying the company. According to the Wall Street Strategies newsletter, the strong performance today by Ascend shares -- as tech stocks were suffering broad losses -- was linked to the buyout rumor. A Lucent spokesman declined comment on the rumor as a matter of company policy. A spokesman for California-based Ascend was not yet available to comment. Ascend, which earlier this year acquired Cascade Communications in a stock deal, has surfaced as a rumored target as its shares have fallen more than 50 percent from their year's peak of around 80, closing on Thursday at 33-5/8. Ascend shares rose 1-3/8 to 35 on heavy volume of nearly seven million shares in late morning. One trader unaware of the rumor said Ascend's gains could be a function of the stock recovering after losses suffered in the wake of Lucent's recent $650 million deal to acquire privately-held Livingston Enterprises. ''The stock probably got oversold after the Livingston deal,'' the trader said. ''I think there were some competitive concerns there.'' Shares in Lucent fell 2-1/8 to 85-7/8. Volume was not particularly heavy, with less than one million shares traded shortly before midday.

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