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Technology Stocks : PairGain Technologies
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To: Tom Nguyen who wrote (27995)1/14/1999 2:56:00 PM
From: RJP  Read Replies (1) of 36349
 
briefing.coms analysis on today's trading:

14:20 ET******

(DAYTRADER) Telecom equipment stocks back in play following announcement yesterday of Lucent Technologies (LU)
buyout of Ascend Communications (ASND). Shares of Advanced Fibre (AFCI +15%), Ciena (CIEN +7%), Tellabs
(TLAB +1%) and PairGain Technologies (PAIR +9%) benefitting from renewed speculation that Cisco Systems (CSCO)
and/or LM Ericsson (ERICY) could make bids. Rumors supported by CSCO and ERICY confirmation of plans to
make numerous acquisitions in 1999... Advanced Fibre Communications (AFCI 13 5/16 +1 11/16), a manufacture of
digital loop carrier systems, also benefitting from NationsBanc Montgomery upgrade from "hold" to "buy." NationsBanc
analyst Bill Magill says upgrade based on appeal of AFCI as a takeover candidate and possible contract wins by the
company. The analyst sets a 12-month price target of $17... Shares of PairGain Technologies Inc. (PAIR 9 15/16 +13/16)
more than doubled in October amid rumors that company was in merger talks. However, management quickly squashed
rumors and the stock retreated back to $7 level. Ciena (CIEN) has discussed merger possibilities with both Cisco Systems
(CSCO) and Tellabs (TLAB). After Cisco passed, Ciena reached an agreement with Tellabs. Deal was called off after Ciena
failed to win several important contracts and warned of disappointing earnings. There is speculation that both Cisco and
Tellabs may take another look at the company.
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RJP
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