Serge --
I don't believe the ASND/LU merger rumor for one second. Just the same, I'd like your opinion on this short article from Dow Jones:
January 11, 1999
Dow Jones Newswires
Research Dir: Insider Selling Up In Broad Mkt In Last Month
NEW YORK -- Insider selling has increased in the last month, according to Craig Columbus, director of research at Disclosure Inc., a firm that tracks legal insider trading activity.
"We've started to see a little bit of a pickup in insider selling because the market has run up so much," Columbus told CNBC Monday.
He said Lucent Technologies Inc. (LU), which is reportedly close to a deal to buy Ascend Communications Inc. (ASND) for about $16 billion, has had "very little" insider selling. One executive has sold 36,992 shares since July, said Columbus.
Meanwhile, he said, Ascend had more than 575,000 shares sold in November by insiders, including Chief Executive Mory Ejabat and Chief Financial Officer Michael Ashby.
Why would Mory and Michael sell so at November's prices if they thought they'd get 70-80 from LU?
Pat |
