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Technology Stocks : Network Associates (NET)
NET 169.94-4.1%3:59 PM EST
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To: Death Sphincter who wrote (2019)2/21/1998 11:05:00 PM
From: Wigglesworth  Read Replies (1) of 6021
 
Lehman: DING not DENT in NetA armor!
Darn not Damn, Sick not Suck!

Headline: Network Associates: Cisco purchase of WheelGroup Author: Michael E. Stanek 1(415)274-5336 Rating: 1 Company: NETA Country: COM CUS Industry: DATAPR Ticker : NETA Rank(Prev): 1-Buy Rank(Curr): 1-Buy Price : $62 1/4 52wk Range: $79-37 Price Target: $90 Today's Date : 02/20/98

*Yesterday, Cisco (CSCO 65 1/4; 1-Buy) announced it would purchase the WheelGroup Corporation, a provider of intrusion detection software for networks.
*Networks Associates has identified this area as a potentially fertile area for recent(CyberCop) and future product introductions.
*Yesterdays purchase should not be seen as a detraction from Network Associates long-term product plans. CyberCop will be positioned as the front-end to multiple infrastructures (3Com-COMS 33 1/4; 3-neutral , Bay Networks-BAY $31; 2-outperform, and Cisco).
*Cisco hopes to integrate as much value-added software capability into the router. The problem is that the IOS (Cisco's propriety operating system) cannot host powerful applications like an NT Server.
*Conclusion: Valued added network security software will continue to flourish as Cisco's platform is incapable of meeting enterprise-wide software requirements at the moment. We would characterize yesterday's announcement as a ding but not a dent in NETA's market position.
BUSINESS DESCRIPTION: Network Associates is a leading developer of network security and management software.
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