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Technology Stocks : Adaptec (ADPT)

ADPT 17.88

-0.9%

2:18 PM EST

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To: Jim Switz who wrote (2950)	7/11/1998 11:31:00 AM
From: Larry J.	Read Replies (1) of 5944

Thanks Jim, 1st Call still shows consensus @ .16 but hasn't been updated since 7/4. Zacks @ .16 also. Yeah, the lower the better between now and the 23rd. Re: Hansen's res., any discussion would not be complete without conjecture that a high level defection (with a co. that has buyout rumors) is to eliminate the duplicity of a key management slot in the merged company. Also to rehash some old news, I still find it odd that Grant Saviers exercised 60,000 shares on 5/18 (@ 7.72)without turning around and selling them ASAP. Looking at the historical data on insider sales this broke a pattern of exercising and selling the same day (except for a few isolated small transactions). Since shares / options are usually restricted prior to, and for a substantial period of time following an acquisition perhaps Saviers wanted to exercise but not cash out in anticipation of a need to raise cash in the near future while expecting significantly higher prices than were available 5/18 - present. All idle speculation (hope) on a Saturday morn. of course, Larry

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