Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Colin Thorpe who wrote (27590)	7/15/1999 12:35:00 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Jags are Jag notes and NETA is the stock..symbol.. for me this is just a breakout, quote.yahoo.com, I will not sell it , it has risen due to buy out rumors, but technically what I know little this is in good trend you have taken the worst now just wait ofr that break out.. this chart absolutely looks like a buy out based breakout and not fundamental based break out, so if the news are wrong it may go down to the old lows for me I will be out of it only if 167/8 is broken or COMP 2720.. NDX 2320.. Network Associates rises on buyout rumors By Bloomberg News Special to CNET News.com July 14, 1999, 5:10 a.m. PT Shares of Network Associates, the No. 1 maker of security software, rose 8 percent on speculation that it will be acquired by a larger rival. Network Associates rose 1.44 to 19.5 in trading of 19.5 million shares, about four times the three-month daily average. It was the fifth most active stock in the United States. The shares also increased 10 percent yesterday. Quote Snapshot July 15, 1999, 9:10 a.m. PT Network Associates Inc. NETA 20.2500 -0.9375 -4.42% by symbol by name More from CNET Investor Quotes delayed 20+ minutes The rise comes as Network Associates shares have plunged 71 percent this year, making them the worst performer on the Nasdaq 100 Index. The maker of antivirus and network management software has seen its sales fall dramatically amid excess inventory and weak demand. Now some investors believe the company is an attractive takeover candidate for rivals such as Microsoft, Computer Associates, Novell, and Cisco Systems, said Aaron Scott, an analyst with Advest. "The rumor is that somebody's looking to take over Network Associates," said Scott, who rates the shares "market perform." "I don't really put a lot of faith into it." Microsoft has been making large investments in cable TV companies while Computer Associates recently completed a $3.5 billion purchase of Platinum Technology. Microsoft, Computer Associates, and Novell executives declined to comment on the speculation. Network Associates and Cisco executives weren't immediately available for comment. Call options for Network Associates were also among the most active in U.S. options markets. Some 18,000 call options traded, more than half the recorded open interest of 32,000 contracts. Holders of call options benefit if the stock price rises. The most active option was the August 20 call, which would give the holder the right to buy the stock for $20 a share next month. Some 4,800 August 20 call contracts traded, up from 110 yesterday. The option hadn't previously traded. The August 20 calls rose 0.875 to 2.125. Network Associates is expected to release its second-quarter results on July 21. The company should lose about $1.12 per share on revenues of around $20 million, Scott estimates. "They have earnings coming up and people may be positioning themselves for the announcement," said Joe Sunderman, a research analyst at Cincinnati-based Schaeffer Investment Research.