Just watching the tape and LU is going through the roof. (I do not own any LU stock ;-() and went to the thread to get some understanding what is going on. Found this comment about the SC First Boston Annual Tech. Conference. I wonder what was said by NN. Does anyone have any ideas?
To: David Weis (5076 )
From: Jack Kunkle
Friday, Dec 4 1998 2:59PM ET
Reply # of 5080
Headline: Lucent, others up after upbeat investor conference
NEW YORK, Dec 4 (Reuters) - Shares of telecommunications equipment maker
Lucent Technologies Inc. (NYSE:LU) and technolgoy stocks rose on Friday after the
companies this week gave upbeat presentations at an investor conference, analysts and
traders said.
"It seems Lucent had some very positive comments at an investment conference in
Arizona....Tellabs also made some positive comments as well and they appear to be
finally participating (in the rally too)," said Steve Levy, a telecommunications equipment
analyst with Lehman Brothers.
Lucent, the third most-active issue on the New York Stock Exchange, gained 5.3
percent or 4-11/16 to 93-1/16. The gains outpaced a rally in the broader market as the
Dow Jones industrials gained 116 points or 1.31 percent to 8996.
"The message we gave was the same as it's always been- our fundamentals remain
strong and the markets we address remain strong," said Lucent spokesman Jeff Baum.
Lucent, Tellabs Inc (NASDAQ:TLAB). and a variety of technology companies from
computer chip makers Cypress Semiconductor Corp. (NYSE:CY) and
STMicroelectronics NV (SBF:STM) to Internet portal company Excite Inc.
(NASDAQ:XCIT) made presentations at the Annual CS First Boston Conference in
Phoenix. Many of the companies appearing at the conference saw moderate gains in
their stock prices, analysts said.
Tellabs said it did not make any new announcements but analysts said their presentation
was upbeat. Shares of Tellabs gained 1-1/16 to 57-13/16 on Friday.
RF Micro Devices Inc. (NASDAQ:RFMD) also rose Friday, building on gains seen
Thursday after its conference presentation. RF Micro, which develops radio frequency
circuits such as amplifiers, mixers and modulators for wireless communications services,
added 4 to 37-1/4. The stock has gained 35 percent since Dec. 2.
Copyright 1998, Reuters News Service
Regards
Glenn
|
