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Technology Stocks : Newbridge Networks

NN 17.04

-0.8%

Dec 24 12:59 PM EST

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To: Elmer Flugum who wrote (2558)	12/11/1997 11:37:00 PM
From: Mark Kubisz	Read Replies (1) of 18016

Newbridge's $3.90 drop on Wednesday earned it a spot in the Globe and Mail's market movers feature. The text of the relevant portion of the article is as follows (all emphases added by me): Newbridge Networks shares took another beating in the market yesterday, dropping $3.90 after losing $4.55 on Tuesday. The Kanata, Ont.-based company's shares are being hurt over concerns that a new product from Ascend Communications Inc. could hurt Newbridge's frame relay equipment sales, Bloomberg news service reports. Levesque Beaubien Geooffrion analyst Benoit Chotard said that investors have overreacted to the threat from Ascend's new frame relay card, which will be sold to large phone companies. "At some point the carnage will be over and it will be a great opportunity to go into a company that has high margins and is winning major contracts," Mr. Chotard told Bloomberg. Newbridge wasn't the only tech stock to get beat up yesterday...

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