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Biotech / Medical : Summit Technology (BEAM)

BEAM 21.73

+0.3%

1:40 PM EST

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To: James Strauss who wrote (928)	7/1/1998 5:11:00 PM
From: Riverlightning	Read Replies (2) of 1386

I think the good news from LCAV on the big increase in procedures had a lot to do with today's BEAM increase. It is interesting to note that the 6 close is exactly what it closed at on 6-8-98 and 6-9-98 just after the settlement of the VISX suit and the $35 mil for BEAM. Instead of growing from there it surprisingly went right back to 5 1/4. It should have gained more given all the benefits resulting from the settlement and the long term outlook for the industry. As recently as 4-28-98 it closed at 7. On 11-10-97 it closed at 8. And this was with a much bleaker outlook and unresolved suits. So there is no reason why it can't go back up to 8. But who knows, it could go back to 5 1/4. At this point, however, the upside looks a lot stronger than the downside.

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