Phoenix Technologies (PTEC) Message Board

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Technology Stocks : Phoenix Technologies (PTEC)

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To: Marc Phelan who wrote (2809)	10/21/1998 11:43:00 PM
From: Jules B. Garfunkel	Read Replies (1) of 3624

Sorry Marc and ALL, but I've had my hands full over the last week, so I haven't been able to do much work on PTEC. Perhaps the answer to your question is that Intel has been buying PTEC on the open market. Its hard to tell with the recent acquisitions what the new average daily volume should be. It could be short covering, Award shareholders, institutional accumulation, Intel buying on the open market, or Tim reestablishing his original position.(g) All I know is some one, or ones, have been accumulating lately. As I said last week, it ain't me. I did all my additional buying the week before. As I recall Intel can buy up to 19% of PTEC. The 644K shares that INTC is reported to be buying will not bring them up to the level that they are allowed to buy via the original warrant's agreement. Anyway, it is a good question to ask Jack on the Conference Call. I just hope Jack is not overly conservative tomorrow and will give us some better perspective on earnings and product milestones. Regards, Jules

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