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Technology Stocks : Ascend Communications (ASND)

ASND 212.29

-2.2%

Nov 19 3:59 PM EST

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To: Tim Luke who wrote (25665)	12/4/1997 4:26:00 PM
From: Sector Investor	Read Replies (2) of 61433

Wrong! =Ascend -2: CEO Spoke At Deutsche Morgan Conference Dow Jones News Service via Dow Jones NEW YORK (Dow Jones)--Ascend Communications Inc. (ASND) shares jumped 14% after President and Chief Executive Mory Ejabat said the networking company expects to meet fourth-quarter consensus estimates of 23 cents a share. Speaking at the Deutsche Morgan Grenfell technology conference in Laguna Niguel, Calif., Ejabat also said the company is comfortable with Wall Street estimates of $1.05 a share for 1997 and $1.45 for 1998, according to Michael Ashby, Ascend's chief financial officer. Ascend earned 32 cents a share in the fourth quarter of 1996 and 89 cents for the full year. But those numbers are not comparable since the company acquired Cascade Communications Corp. earlier this year. Ascend's outlook was welcome news for the networking industry two days after two of the biggest participants in the sector, 3Com Corp. (COMS) and Cabletron Systems Inc. (CS), warned that they would miss consensus estimates for their November quarters. Ascend itself prereleased disappointing results last quarter due to problems with its MAX TNT remote access concentrator product, which Internet service providers use to aggregate users and connect them to computer networks. The company had trouble getting 56K modem cards to interface properly with the product, The TNT also has cut off dial-in users and overheated. Weakness in the Japanese market and pricing pressure from Cisco Systems Inc. (CSCO) and U.S. Robotics Corp. in the remote access concentrator market also plagued Ascend. U.S. Robotics was acquired by 3Com earlier this year. Ascend's shares were recently up 3 1/4, or 13.8%, at 26 7/8 on Nasdaq volume of nearly 17.5 million, compared with an average daily volume of 9.1 million. -Joelle Tessler; 201-938-5285

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