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Technology Stocks : SMIT (Schmitt Inds)likely to post 400% earnings gain YoY
SMIT 0.0155+3.3%Oct 14 2:00 PM EST
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To: MANNLAKE who wrote (109)1/23/1997 2:00:00 PM
From: Brian Meath   of 276
 
Steve and others: I'm finally back on-line after transferring overseas,
although I have kept up to date on developments at SMIT through friends
back home. Several issues have come to mind, which I would like to discuss.
1) I believe the blocks of shares which were being indescriminately
thrown at the market were the result of a former director's will
clearing probate, and relatives which wanted cash fast. They obviously
left a lot of money on the table. 2) Additionally, any institutional
money which may have been devoted to this sector had a clear arbitrage
gain in TNCR recently. The slightest hint of good news from SMIT should
trigger some heavy profit taking at TNCR. Speaking of which 3) I
understand that SMIT has finally completed a deal to sell five machines to IBM.
Were this to become common knowledge, we'd be in business. And finally,
4) Veeco has recently been mentioned on Bloomberg as a possible
acquisition target by Applied MAterials, as a competitive response
to KLA. I know that SMIT has had at least some discussions with AMAT,
but I am curious about others comments on a) would a Veeco buyout be
good for SMIT, b) what has been the degree on contact between AMAT
and SMIT, and c) whether SMIT itself could be a target for takeover.
I know that Wayne Case is adamently independent, but AMAT could be
just the powerhouse to get SMIT's technology the marketshare it deserves.

Any thoughts. Brian

P.S. It's good to be back.
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