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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (12259)	7/14/1999 2:05:00 AM
From: pat mudge	Read Replies (2) \| Respond to of 18016

Tunica -- The conference is here in San Diego. It only requires battling early-morning traffic. Back to today's drop, when you look at Paul Silverstein's comment,``All I said was that against the backdrop of a strong start to the quarter, that I believe that demand weakened in July,' and realize he spoke with Alan late last week, you can see how ludicrous it was. July had weakened, indeed! Judge the whole month on the 8th and take out four or five days for national holidays and what do you expect? Even my cat . . . Cheers! Pat

To: Tunica Albuginea who wrote (12259)	7/14/1999 6:12:00 AM
From: Glenn McDougall	Respond to of 18016

Rumours weigh on Newbridge Analyst denies downgrade Jill Vardy Financial Post OTTAWA - Trading in Newbridge Networks Corp. stock was briefly halted in Toronto and New York after it plunged 9% on rumours of of a negative analyst report. Shares in the telecommunications equipment company dived yesterday on reports that Paul Silverstein, an analyst at BancAmerica Robertson Stephens in New York, doubts Newbridge will meet market expectations this quarter. But in an interview later, Mr Silverstein denied he has downgraded his expectations of the firm and said he was mystified by the reports. "I'm not downgrading ... I'm not saying the company won't make its numbers. All I said is that incrementally July appears to be weaker relative to the very strong start of the quarter." Mr. Silverstein predicts Newbridge will earn 15¢ (US) a share in the quarter ending Aug. 1. Consensus estimates are for 16¢ a share. He also denied reports that said he claimed Newbridge is no longer an acquisition target by a larger telecommunications company. The rumours drove the stock down before the New York Stock Exchange halted trading because of order imbalance. The TSE also halted trading in the stock and called for an explanation. Trading resumed about 20 minutes later, after the company said it could not explain the slide. The stock (NN/NYSE; NNC/TSE) ended the day down 9.4% in New York to $2 9/16 (US); in Toronto it fell $3.65 to $39.50. Ken Wigglesworth, Newbridge's chief financial officer, said Newbridge's current quarter won't end until Aug. 1. That gives it almost three weeks of shipments before the quarter ends. .In previous quarters, Newbridge has sent out about half its quarterly shipments in the last two weeks of the financial reporting period, although recent changes in its production and order fulfilment practices have made this quarter "more linear than others," said Paul Goyette, a Newbridge spokesman.