Jas --
Come on over to the NN thread. Lots of volatility. Lots of promise. And your knowledge from XYLN definitely translates.
I'm glad I held XYLN, but only wish I'd held more. Isn't that always the case. . .
From my news alert:
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March 02, 1999 13:40
ADR REPORT - Alcatel deal sparks some Euro ADRs
NEW YORK, March 2 (Reuters) - Alcatel's $2 billion cash bid on Tuesday for Xylan Corp. perked up some European telecoms ADRs, but activity in foreign shares trading in the U.S was otherwise sluggish, traders said.
Alcatel ADRs -- American Depositary Receipts -- climbed to 22-3/16, up 13/16, after the French telecommunications equipment maker offered $37 a share for the U.S. producer of Internet equipment.
"Telecoms are doing well, mostly on the Alcatel news and general positive feeling in the group and a bit of a market bounce," said Jim Brophy, with ADR Research at BT Alex. Brown.
European telecommunications company Deutsche Telekom rose 1-3/16 to 47-5/16, while Spain's Telefonica de Espana SA rose 1-1/4 to 136-13/16, and British Telecom edged up 11/16 to 174-1/8.
But other telecomunications ADRs slumped on the day, including Telecom Italia, off 2-7/16 to 105-1/2, which is battling a takeover attempt from Olivetti
ADRs of other equipment makers took their cues from Alcatel, with Vodafone up 1 to $180-13/16, and Ericsson up 6/16 to 26-3/16, while Nokia Corp. gained 2-9/16 to 137-3/8.
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