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Technology Stocks : ECI TELECOM. ECILF
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To: Pascal Morin who wrote (371)10/9/1998 7:39:00 PM
From: LLLefty  Read Replies (1) of 426
 
I wonder if any who follow ECILF closely cares to venture a view on the stock's tailspin. We know we are in a down market but ECI's slide is even more precipitious. It dipped another 8 per cent today, for example, while telcoms as a sector rose 6-7 per cent after their recent battering. See CSCO and LU. Even Alcatel jumped a bit.

All this despite Herculean recent efforts by ECI's management to put a rosy glow on the foreseeable future. No earnings shock (as has hit Israels NICEY, SCITEX and ESC, for example)is in sight. Rubner went way out of his way last week or so publically to try to stem the bleeding with an upbeat forecast. A few days earlier, ECI's IR mouthpiece gave it a fruitless shot as well at a NY expo.

I don't know the status of the Tadiran "merger" but hard to see that as the cause of the slide. Is Claridge losing interest in ECI?

It's not Asia, they say. It's not the overvalued shekel either. Recent shekel devaluation, in fact, should boost ECI's competitiveness.

Thoughts invited.
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