Peppe,you are right : NN did not loose any contract
biz.yahoo.com
Thursday March 19, 10:01 pm Eastern Time
Newbridge shares down
TORONTO, March 19 (Reuters) - Newbridge Networks Corp (NN - news) shares fell by the end of trading on Thursday.
The stock shed 2 to 38.85 by the close.
Newbridge said the fall was due to misunderstood information relating to the awarding of a contract by Deutsche Telekom AG (NYSE:DT - news; DTEG.F).
''The reseller agreement announced today by FORE Systems with Deutsche Telekom AG is separate and distinct from any business being bid by Newbridge Networks with Deutsche Telekom,'' company spokesman Paul Goyette said in a statement.
''Newbridge Networks is a leading vendor of asynchronous transfer mode solutions for carrier networks. Deutsche Telekom has yet to announce a vendor for its global, broadband network architecture.''
*******************************************************
As I retrace the events, this is what happened:
FIRST
this is the FORE announcement in REUTERS on Thursday AM, of a RESELLER agreement with DT
[( DT is not using FORE for their backbone; that contract has not gone out. NN are the most likely to get it since NN is with Siemens and Siemens is the General Electric of Germany;been around 150 years. There is no way the Germans are not going to give their phone business to their local guys; furthermore DT has already been using NN ATMs for past 3 years [ together with France Telecom ); BT has already given NN all their contract; Terrence Matthews NN CEO is from Whales UK BTW; NN CFO Sommerer is Austrian ;with the European Union coming on, they will keep it all local;all IMHO )] :Again, this is a reseller agreement, NOT a new contract:
www3.techstocks.com
SECOND
Duncan Stewart, portfolio manager at Tera Capital. and Richard Woo, an analyst with Thomson Kernaghan & Co. immediately tried to do a hatchet job:
www3.techstocks.com
The reason I am assuming it's a hatchet job is because they failed to check their story out either with DT or FORE or NN ( as per NN later cleared the issue ). I assume the reason for the hatchet job was to hopefully get NN shares down to buy them back or anew?
If it's not a hatchet job they they are complete idiots, and can't distinguish the difference between a contact to resell FORE's equipment ( as DT has with NT )and a contract for DT to buy and install in Germany ATM switches for their phones backbone.If it is a I assume hoping to get NN shares down ( to buy them back at lower prices? My conjecture ):
THIRD
Later in the day on Thursday, after the close, Yahoo realized this and immediately withdrew the false news
biz.yahoo.com
And FINALLY late Thursday evening, NN issued the true state of events in Yahoo:
biz.yahoo.com
What we have here again is either two complete idiots or a skilled attempt at stock manipulation through misinformation distribution. I don't know where these two jerks are located but if in Canada this reminds me of the Bre-X manipulation days out in the wild west prairie provinces or it could be in the Bronx, gg. Anyway, it does no t appear that they achieved their desired effect because there has been very little volume/selling today and NN has held pretty good at ~27.%. It looks like NN longs ( Pat Mudge and Company, GG, [ I guess that includes me ] are sitting tight of their shares. I think what helps in that is visions of NN price increase when DT awards them their contract, right? < GG >.
TA
P.S. It'd be nice to know in what rat hole Tera Capital andThomson Kernaghan are located; any body volunteering to find out? |
