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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST
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To: Skeeter Bug who wrote (2007)3/7/1999 2:25:00 AM
From: Math Junkie  Read Replies (2) of 3813
 
<<yes, richard. you raise money when the market supports a price well above its value.>>

I agree that the secondary offering indicates that Novellus' management thought their stock was richly valued. I just can't see how that proves that they don't have cash flow. What the heck was the 131 million dollars in cash and short-term investments on their balance sheet a couple of months ago?

<<you apparently don't understand eps and cash flow. if you go back 4 years or so, mu's reported eps is well into the several dollar category, if not much more. they have no money and just increased debt by a cool $1.5 billion recently. the resaons for this are obvious to the clued in>>

Perhaps you would condescend to explain to we poor unwashed just what the heck you're talking about, and what MU's earnings from four years ago have to do with Novellus.

<<and they still, 1. need money (bad for investors), 2. can't pass up an opportunity to flog the ignorati (bad for investors).>>

This is only bad for investors if you assume they are going to squander the money. Novellus has a reputation for being a well-run company, so I still see no justification for such an assumption. Comparing them to MU makes about as much sense as comparing them to K-Mart.
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