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Technology Stocks : Newbridge Networks

NN 16.21

-2.5%

3:59 PM EST

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To: Serge Collins who wrote (2410)	11/6/1997 2:05:00 AM
From: Mephisto	Read Replies (1) of 18016

If the analysts who work for "the big houses like J.P. Morgan are so "astute, intelligent and honest individuals," why didn't they talk to Newbridge before they listed it as a buy. "Newbridge's executive said he had no idea JP Morgan was going to come out with a buy.Yesterday's stock drop was exacerbated by a $6.85 jump in Newbridge's stock price in Toronto Monday, after an analyst at J.P. Morgan Securities Inc. upgraded his rating. Peter Charbonneau, Newbridge's president and chief operating officer, said the firm wasn't aware the analyst was releasing a report that day." I understand that analysts often meet with company executives b4 they make recommendations. So why wouldn't an astue & intelligent analyst, from JP Morgan, talk to NN b4 coming out with a strong buy. JP Morgan had one idea about NN's earnings and Merril Lynch had another. In their own way, each company manipulated the market by upgrading and downgrading the stock on two consecutive days.

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