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Technology Stocks : Newbridge Networks
NN 12.53-1.5%Nov 19 3:59 PM EST
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To: Lou Pedron who wrote (3034)2/3/1998 4:41:00 PM
From: Barron Von Hymen  Read Replies (1) of 18016
 
>> This was done back in December by IBM to prop up the stock, and even today by Northern Telecom...<< The purpose for the company to buy back their stock is so they increase the amount in their treasury which they can issue to employees as stock options. They do not go into the market to prop up their stock, this action is manipulation and illegal. However , they make purchases in the market as they see fit as market conditions warrant. I doubt that even if Newbridge wanted to buy back stock, that won't be enough to ward off current facts about declining margins and market share and thus profits.

Bet that 300 mill cash they have on hand will be helpful for upcoming shareholder lawsuits.
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