Some guy named George Soros recently purchased 1.5 million shares of Nextel. Is this considered bullish?
Dow Jones Online News, Friday, February 20, 1998 at 14:52
NEW YORK -(Dow Jones)- Funds associated with noted investor George
Soros bought 1.8 million shares of America Online Inc. during the fourth
quarter, Federal Filings Business News reported Friday.
Soros Fund Management bought the shares during a period when AOL was
trading between $64 and $91 a share during the quarter, according to
documents filed with the Securities & Exchange Commission, Federal
Filings reported. Late Friday, America Online shares (AOL) were trading
at $118.563, up 93.8 cents.
Soros Fund Management also bought 2 million shares in Dow Jones & Co.
(DJ); 3.5 million shares in Freddie Mac (FRE); 1.3 million shares in
Lucent Technologies Inc. (LU); 455,000 shares in Walt Disney Co.
(DIS);and 255,000 shares in Time Warner Inc. (TWX). It purchased
1,585,000 shares in Nextel Communications Inc. (NXTL); 750,000 shares in
Telecomunicacoes Brasileiras S.A.; 370,000 shares in Telefonos de Mexico
S.A. (TMX) and 382,200 shares in WorldCom Inc. (WCOM).
The Soros fund also bought 1.3 million shares of Starwood Hotels &
Resorts Trust (HOT); 670,000 shares in Crescent Real Estate Equities Co.
(CEI); 429,100 shares in AMR Corp. (AMR); and 500,000 shares in
Continental Airlines Inc. (CAIA). The fund bought 1 million shares of
Sofamar/Danek Group Inc. (SDG); 3.2 million shares in Pharmacia & Upjohn
(PNU) and 762,000 shares in Incyte Pharmaceuticals Inc. (INCY).
Soros Fund Management also bought 1.3 million shares of Gap Inc.
(GPS); 186,600 million shares of Payless ShoeSource Inc. (PSS); 1
million shares of Travelers Group Inc. (TRV); 1.7 million shares of
Williams Cos. (WMB) and 1.5 million shares in Unicom Corp. (UCM).
The fund sold 1.3 million shares of Amgen Inc. (AMGN) and appears to
have sold 1.4 million shares of Federated Department Stores Inc. (FD).
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