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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Kashish King who wrote (5409)11/30/1996 12:26:00 AM
From: Edward E. Shure   of 42771
 
While a billion in the corp coffers sounds impressive; let's not forget that it's there for a reason. What that reason might be is anyone"s guess; i.e.for future acquisitions, stock buyback to reduce the float and /or for executive options etc. The thing to remember is that at this point in time stock as currency is much preferred over cash in the treasury. Novl would not be taken out at less than 21 to 23 a share; a 15 bid would merely draw attention of a gray knight who would then start a bidding war with escalation to the low 20s. As far as cash per share Netm has 3 per share and Daisy -remember them- had 5 per share almost until they filed Chapter 13. The technicians loved Novl a year ago between 18 and 19; and to give CNBC their due they were much more positive towards the stock then.Oh yes i own it at 18 plus and have Jan 97 leaps -calls- at 20.
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