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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (10222)	6/28/1999 11:35:00 PM
From: Steve Fancy	Respond to of 30916

US OPTIONS - IDT Corp vols gyrate, volume picks up Reuters, Monday, June 28, 1999 at 17:18 CHICAGO, June 28 (Reuters) - Implied volatility gyrated up and back off Monday in options on IDT Corp. (NASDAQ:IDTC) and volume swelled as the market fielded vague talk that the telecommunications company might be a takeover candidate. "There's a takeover rumor in the thing," said Paul Foster, investment strategist, 1010wallstreet.com. "I know it's been in the (Internet) chat rooms." He said the rumor, also reported on television channel CNBC, mentioned Sprint Corp. (NYSE:FON) as the buyer of New Jersey-based IDT. Both companies declined to comment on the rumor. The unconfirmed talk initially lifted volatilities into the mid-90-percent area, above the more typical 77-percent level, before vols settled back again into the upper 80s. "The vols had spiked," Foster said, adding that implied vols settled down a little as the rumor appeared to lose some vigor and players apparently sold back their calls. "It's buy-the-rumor, sell-the-fact" action, he said. Volume also increased in the Philadelphia Stock Exchange traded options. The most-active July 25 calls, which rose 1/2 to 1 Monday on volume of 603 and open interest of 836, had volume on Friday on only about 305 contracts. The July 22.5 calls, which gained 1-1/4 to 2-1/8, generated volume of 459 on open interest of 831. On Friday, the 22.5 calls posted volume of about 70 contracts. IDT shares closed up 2-5/15 at 22-7/8 on Nasdaq market volume of 4.4 million shares. Sprint stock gained 1-1/4 to 55-1/2 on New York Stock Exchange turnover of 1.4 million.

To: peter michaelson who wrote (10222)	6/28/1999 11:40:00 PM
From: Steve Fancy	Respond to of 30916

IDT shares rise on Sprint takeover speculation Reuters, Monday, June 28, 1999 at 17:02 CHICAGO, June 28 (Reuters) - Shares of telecommunications company IDT Corp. (NASDAQ:IDTC) were boosted on Monday by speculation that Sprint Corp. (NYSE:FON), the nation's No. 3 long distance provider, was bidding for it. "There's a takeover rumor in the thing (IDT trading)," said Paul Foster, investment strategist at 1010wallstreet.com. "I know its been in the (Internet) chat rooms." Spokesmen at both IDT and Sprint would not comment on the rumored bid by Sprint. "I would say what I always say regarding market rumors and speculation, and that is, we don't comment," said William White, spokesman at Kansas City, Mo.-based Sprint. Shares of IDT closed up 2-15/16 on NASDAQ and volatility in IDT calls also spiked higher after the takeover talk swirled through the markets, options traders said. The Sprint rumor surfaced in Internet chat rooms and was also reported on business television channel CNBC on Monday. IDT, based in Hackensack, N.J., is a provider of prepaid calling cards and long-distance services for other carriers, as well as a nationwide Internet Service provider. Shares of Kansas City, Mo.-based Sprint closed 1-1/4 higher at 55-1/2 on the New York Stock Exchange. chicago.equities.newsroom@reuters.com)) Copyright 1999, Reuters News Service