From Today's Financial Post: Rumours of major contracts for NN.
canoe.ca
Wednesday, March 18, 1998
Contract rumor spurs Newbridge
By JILL VARDY
Technology Reporter The Financial Post
ÿOTTAWA - Newbridge Networks Corp. is being coy about its prospects of winning some big contracts soon, but investors seem to consider the contracts as good as won.
ÿNewbridge stock rose again yesterday on rumors that the telecommunications equipment company is about to land a major supply contract with a public carrier.
ÿThat news added to the momentum generated by recent analyst upgrades on Newbridge's stock.
ÿNewbridge shares (NN/NYSE) closed yesterday at US$29 13/16, up 3/16, in New York, and (NNC/TSE) at $42.20, up 30›, in Toronto, well above the two-year low of $27.50 reached when the firm warned of weak third-quarter earnings on Feb. 4.
ÿNewbridge spokesman Paul Goyette would not comment on the market speculation, but he did say that "some decisions are in the process of being made that we expect in the near term ... over the next month or so."
ÿThose include major contracts to be awarded by giant Cable and Wireless PLC, based in Britain, and by Bell South, one of several regional Bell operating companies in the U.S. that have announced plans to buy large amounts of asynchronous transfer mode (ATM) telecommunications equipment to upgrade their networks in the next year.
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