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Technology Stocks : Ascend Communications (ASND)
ASND 209.15-1.5%Nov 20 3:59 PM EST
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To: thebeach who wrote (43647)4/10/1998 4:38:00 PM
From: Gregg Green  Read Replies (2) of 61433
 
I'm getting a big kick out of the "whispers" dialog that's going on this afternoon. Anybody out there that believes there's a significant difference between $.26 and $.28 probably shouldn't be investing in the stock market. I worked for a number of years as controller for a large publicly held insurance company and to think that you clean out your checking account with whatever's left over at the end of each quarter is laughable. There is always strategic managing of the earnings to reflect the story you want to tell. Obviously if your estimate is for $.25 and your number looks more like $.15 then you have problems, but that's not the case here. Ashby is simply guiding the number up gently so that next quarter will be significantly higher than this. If he gives away too much right now all he is doing is setting himself up for skeptics next quarter who are looking for a bigger boost.

The key statement made last night was that the company is comfortable with year end estimates. How they manage to that number is up to them, but they are taking an approach that will guarantee quarter by quarter growth regardless of small sales slumps, and at the same time setting themselves up for the big pop if things go well (which it appears they expect).

So please, no more "they missed the whispers by $.02 so the wheels are about to come off". That's chicken little mentallity and the big institutional spenders who are now coming on board fast are way above that. We all should be too.
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