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Technology Stocks : Newbridge Networks
NN 12.45-1.5%12:08 PM EST
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To: Dennis R. Duke who wrote (7498)11/19/1998 12:08:00 PM
From: Ginco  Read Replies (2) of 18016
 
Globe says mystery analyst touts billion-dollar contract
Newbridge Networks Corporation NNC
Shares issued 176,550,858 1998-11-18 close $36.6
Thursday Nov 19 1998

The Globe and Mail reports in its Thursday edition that Newbridge Networks shares jumped almost 10 per cent after a Toronto analyst told clients he believes the company has won a massive international contract. Reporter Simon Tuck notes that the analyst, who demanded his identity be protected, claims he told institutional clients that Newbridge appears to have secured a healthy chunk of the Global One project, a partnership that includes telecommunications giants Sprint, France Telecom and Deutsche Telekom. The Globe does not say if the analyst is based in Canada, the United States or Europe, if he or she works for a big or small brokerage, or if it contacted any of the alleged clients. The contract, which may be disclosed as early as next month, could be worth up to $700-million (U.S.) to $750-million (U.S.) to Newbridge and its partner Siemens. The mystery analyst says he had the information tentatively confirmed by sources with Global One.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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