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Technology Stocks : CheckFree (CKFR)
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To: TLindt who wrote (2488)3/11/1998 10:45:00 AM
From: Brooks Jackson  Read Replies (2) of 8545
 
Wow -- what a buying opportunity! At Tom has so nicely pointed out this charge was announced long ago. Only the amount remains in question. This news is mildly POSITIVE because it shows Integrion retains confidence in CKFR and is going ahead with its purchase of a substantial stake in the company, as planned. It shows CKFR and Integrion are hitting the agreed-upon targets that trigger the phased buy-in by Integrion. (Go back and read the original announcement of the Integrion deal.) This is a NONCASH charge -- doesn't affect operations at all. Just reflects the difference between the market price of the stock and the warrant price. If the stock were at $30, the charge would appear huge. If the stock stays where it opened today, it will be much LESS than the $30 - $40 million stated in the news release.

This is just further evidence that markets are NOT rational in the short term, a fact that allows us little guys to make some money when we understand a company better than the street.
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