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Technology Stocks : Cymer (CYMI)

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To: brasilbound who wrote (11741)	12/19/1997 6:22:00 PM
From: Curlton Latts	Read Replies (3) of 25960

C.R. Adams: Re: $16 MM CYMI corner shot. It wouldn't take that much. Schering-Plough has been an excellent long-term investment stock for its shareholders being a leading Bull stock. Here's why: biz.yahoo.com In addition to buying back its stock Schering-Plough has one of the highest R&D budgets in American business today. I know Angus went to Wharton, but, I'm beginning to wonder if he has any Corporate Finance experience. Or maybe they've got BOZO the CLOWN as their investment banker (MW?). He might just be an accountant and not knowledgable about the economics-strategic considerations of a buyback versus capital budgeting and strategic R&D investment. Right now an immense amount of cash is sitting in Treasuries at 5.0% vs. a stock buyback which offers a yield of 15% on 1999 earnings. He needs to run an NPV analysis along with a ten year financial plan and take a look at the cash flows. It's an unbelievable opportunity for the Company. No change in the R&D budget or capital budget would be required. If the Company wants to maintain its dominant leadership it needs to do these sorts of things. Good Luck To Each And All Curly ~~~~~~^^ [6.6] .....> [_}

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