y Jeff Clabaugh, CBS MarketWatch
Last Update: 1:56 PM ET May 4, 1999
NewsWatch
Technology stocks, for the most part, weren't invited to the big Monday
rally, but there were notable exceptions.
A company called e.Digital ( EDIG: news,
msgs) made Monday's most actives list after getting
a couple of mentions in a Lucent (LU: news, msgs)
news release that announced its appointment of
music producer Phil Ramone as senior producer to
Lucent's New Ventures group.
Ramone has been brought on board to help with
development of Lucent's new audio decoder,
EPAC. Lucent plans to deliver a hand-held
EPAC player that it is developing with e.Digital
later this year, and the Ramone announcement
made mention of that again.
Besides being among the most active stocks,
e.Digital posted a 13 percent gain Monday. That's
from a stock who's 52 week low is a nickel a share
and who's year to date return is an eye popping
3,790 percent.
At RagingBull's e.Digital message board, posters
were glad e.Digital got a little attention. From coldpick ..."edig is really
showing big league strength today." From jhan2001 ..."With Ramone on
board at Lucent, great news for edig. Buy it up. Time is now." And
mcrag ...I am confident especially after today. No mass sell off which
indicates to me that everyone here is on the same page. I think that this
right away signals the value and potential of this stock. Not many people
sold today because we are aware of what we are sitting on." Pennyking
noted ..."75 percent of today was institutional volume and since the price
of edig went up today, you know some institutions were buying. Good
luck ladies and gents. The rise about to begin. Buy on the rumor. Buy
more on the news!" And from rolla95 ..."Phil Ramone can open more
doors in the industry in two minutes that R. Glaser (RealNetworks
CEO Robert Glaser) can with 50 CNBC broadcasts. LU, IBM, TXN,
INTL, join forces with edig, each brings some technology to the table. All
the major players in one group together , Watch out!"
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