AXC just Closing At 9.5 9.625
Here is Dow news from 3:36pm NY time
15:36 =Ampex Up -2-: Deal By Yr-End Seen
(DJ ) Increasingly Likely >AXC
NEW YORK (Dow Jones)--Shares of Ampex Corp. (AXC) climbed
26.3% amid growing investor confidence that the company will
sign a major deal by the end of the year, analysts said.
The anticipation surrounds Ampex's Keepered Media
technology, which enhances a computer hard drive's data
storage capabilities.
Recently, AMEX-listed Ampex shares advanced 1 7/8 to 9 on
volume of 2.7 million. Average daily volume is 389,400.
Dabney Resnick analyst Eric Appell reiterated his strong
buy rating today, and in a research report said one
''Keepered Media order would fundamentally change (Ampex's)
operations.''
Analyst Steven Ossad, of Genesis Merchant Group
Securities, said no deal has been announced, but there is an
implicit deadline of the end of the year.
Appell's report said the Redwood City, Calif., company's
September 10-Q states that ''Ampex has now approached three
manufacturers of hard disk drives that have significant
shares of the desktop disk drive market to determine their
interest in commencing a commercial product incorporating
Keepered Media.''
Analysts were reluctant to name specific manufacturers
that might sign a deal, but some major players include
International Business Machines Corp. (IBM), Seagate
Technology Inc. (SEG) and Western Digital Corp. (WDC).
They also speculate that a Japanese firm may be
considering the technology.
An Ampex spokeswoman said the data storage company
doesn't comment on stock activity. |
