Great write up on Rambus
The Motley Fool's Market Movers (Ups)
The Motley Fool - October 08, 1998 12:20
October 8, 1998/FOOLWIRE/ -- Rambus Inc. (Nasdaq: RMBS) rose $1
23/32 to $52 15/32 as chipmaker Advanced Micro Devices (NYSE: AMD) announced
that it will license the company's Direct Rambus memory interface technology
for use in its future logic chips. AMD added that the 800 MHz test chips for
its program are already "functional at full speed."
Women's fashion retailer AnnTaylor Stores Corp. (NYSE: ANN) strutted $5/8
higher to $21 1/4 after announcing an 8.5% year-over-year rise in September
same-store sales. The company added that its gross margins in the fiscal
third quarter will be at least 300 basis points (or 3%) higher than a year
ago, resulting in Q3 EPS about $0.08 above the First Call mean estimate of
$0.28.
Women's casual clothing and accessories retailer Chico's FAS Inc. (Nasdaq:
CHCS) picked up $5/16 to $13 3/4 after reporting an eye-opening 30.7%
year-over-year increase in September same-store sales. Total sales rose
45.8% in the period to $10.6 million, even though the company said 26 of its
stores were closed for at least one day during the month due to Hurricane
Georges.
Internet trade show, magazines, and websites firm Mecklermedia Corp.
(Nasdaq: MECK) gained $6 3/16 to $26 3/8 after agreeing to be acquired by
fellow business media company Penton Media (NYSE: PME) for $29 per share in
cash, or about $274 million. The purchase price represents a 44% premium to
Mecklermedia's closing price of $20.19 per share yesterday.
Computing products distributor CHS Electronics (NYSE: HS) tacked on $13/16
to $6 13/16 after pre-announcing fiscal Q3 sales of $2.2 billion, which is
in line with the firm's previous expectations. Despite seeing some softness
in its Latin American business during the quarter, CHS said the overall
demand for its products "remains strong."
British information technology consultant and systems integrator ECsoft
Group PLC (Nasdaq: ECSGY) advanced $1 3/8 to $12 3/4 after saying it "knows
of no reason... based upon the company's business or financial condition"
for the recent decline in the share price of its American depositary shares.
The firm's shares have slid 45% since Sept. 30.
Network switching and diagnostic systems designer Tekelec (Nasdaq: TKLC)
climbed $7/8 to $11 1/2 after the local telecommunications division of
Sprint (NYSE: FON) agreed to use the company's MGTS 2000 product to test and
monitor its local Signaling System 7 network in 22 regional signal transfer
points.
Enterprise storage management software firm Legato Systems (Nasdaq: LGTO)
was lifted $1 1/2 to $31 3/4 thanks to a Tucker Anthony upgrade to "strong
buy" from "outperform."
Commercial real estate lender and equipment leasing firm Resource America
(Nasdaq: REXI) rose $1/2 to $8 13/16 after receiving an unsolicited $15 per
share cash buyout bid from Radcliffe, Mitchell and Weiss, which identified
itself as a privately held investment firm with interests in real estate and
other investments. Resource America said it is "endeavoring to learn more"
about the bid.
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