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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: R Verchota who wrote (22316)6/3/1999 6:33:00 PM
From: trendmastr  Read Replies (4) of 29386
 
Lead item from the Motley Fool's Evening News:

CONTENTS
~~~~~~~~~

I. Heroes: Ancor Communications; Airborne Freight Corp.
II. Goats: Genentech; U.S. Xpress
III. Fool on the Hill: Wanted: Financial Writer With a Clue

HEROES
~~~~~~~

Fibre Channel pioneer Ancor Communications (Nasdaq: ANCR) sailed $3 13/16
higher to $14 1/16 after signing a deal to provide its GigWorks eight-port
storage area network (SAN) switches to Sun Microsystems (Nasdaq: SUNW) for
use in Sun's StorEdge arrays. Sun, which balked on making a similar deal
with Ancor last year when it launched StorEdge, also received a warrant to
purchase 1.5 million Ancor shares. The deal is a big win for Ancor, which
was left for dead and bottomed out at $1 per stub last August after a
gut-wrenching 27-month slide from its all-time high of $31 1/8 in May 1996.
The emergence of Gigabit Ethernet drove the company out of its core
high-performance local area network (LAN) market last year and into the
brave new world of SAN, where total Fiber Channel product sales are expected
to hit $1 billion by next year. Considering Ancor only sold $3 million worth
of Fiber Channel switches last year, that leaves a decent amount of room in
the marketplace for the company to grow into.
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