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Technology Stocks : Cabletron Systems (CS: NYSE) -- Ignore unavailable to you. Want to Upgrade?

To: Dolfan who wrote (6321)	6/13/1999 8:45:00 AM
From: sydney	Respond to of 8358

NEWS FLASH! Cabletron, Via Companysleuth.com,June 13th, 1999 Change at TopBoosts Cabletron ( Computerworld ) By Stefanie McCannAnalysts were upbeat last week that the changing of the guard at Cabletron Systems Inc. [NYSE:CS] will bode well for the internetworking company. Wall Street agreed. In fact, the company' s stock price hit a 52-week high last Wednesday, reaching 15 5/8 points.That price topped an upswing that began earlier this year and jumped on June 4, the day Craig Benson stepped down as CEO and Piyush Patel took over the reins. Shares closed at $14 that day, compared with about $9 just one month earlier.The stock's 52-week low was 6 5/8 points on Aug. 8, 1998, and prior to last week's new high, the 52- week high had been 15 1/2 points on May 23.Cabletron's weak stock performance earlier this year could have resulted from uncertainty about the company's plans. "There was concern about the company," says Chris Stix, an analyst at SG Cowen Securities Corp. in Boston.But there's more activity -- and plenty of speculation -- now. For example, rumors have included the possibility that the Rochester, N.H., company will spin off its enterprise network management system, Spectrum, which manages LAN and WAN equipment, Stix says.There has also been speculation that Cabletron is a takeover target, says Andy Schopick, an analyst at Westport, Conn.-based Nutmeg Securities Ltd.Mission:Integration Another initiative on the horizon is working with Compaq Computer Corp. to better integrate the companies' products, Patel told Computerworld (see related story, page 72).In any case, analysts say they expect Cabletron to show an increase in earnings and revenue this quarter. At $1.38 billion, the company's revenue last year was down slightly from 1997, and last year's profit of $130 million was less than half of the $261 million reported in 1997. And stronger results are a good thing on Wall Street. Once things start to settle down and all the rumors are ironed out, Stix says, "The stock could go as high as $20."