VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: DanZ who wrote (5545)	3/5/1999 2:02:00 PM
From: Ram Seetharaman	Read Replies (1) of 6565

ADR news. STM still denying rumor! Friday March 5, 1:18 pm Eastern Time ADR REPORT - ADRs up with rest of Wall Street NEW YORK, March 5 (Reuters) - American Depositary Receipts (ADRs) rose strongly Friday, pulled along by a rallying Wall Street. ''Everything is super bullish here,'' a trader said. ''We'll see how long it lasts.'' U.S. equities surged on February employment data that contained no big surprises. The news relieved fears that inflation and thus interest rates would soon be on the rise. The Dow Jones industrial average (^DJI - news) was up 2.03 percent in early afternoon. The Bank of New York index of 439 leading ADRs (^BKADR - news) firmed 2.07 percent. Dealers reported little corporate news to move ADRs. Finnish telephone equipment maker Nokia Group (NYSE:NOKa - news) rose 6-11/16 to 145-3/16 after Thomas Weisel Partners started coverage of the ADRs with a buy rating. Thomas Weisel also put Swedish telephone equipment maker Telefon AB L.M. Ericsson (Nasdaq:ERICY - news) on its watch list. Ericsson was up 7/16 to 25-11/16. Franco-Italian semiconductor maker STMicroelectronics NV (NYSE:STM - news) firmed 3-9/16 to 89-1/4. The company had no comment on rumors it would emerge as a white knight for VLSI Technologies Inc. (Nasdaq:VLSI - news). The Netherlands' Philips Electronics (NYSE:PHG - news) has made a hostile $777 million bid for the California-based chip maker. Philips was up 1-7/16 to 69-1/16. Hong Kong Telecommunications Ltd. (NYSE:HKT - news) was up 1-3/4 to 18-3/8 in heavy trade. The phone company said Thursday it would hold a news conference Tuesday with Microsoft Corp.(Nasdaq:MSFT - news) Chairman Bill Gates to announce a strategic cooperation plan. ADRs allow U.S. trade of foreign shares.

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