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Technology Stocks : Efficient Networks Inc - (Nasdaq- EFNT) -- Ignore unavailable to you. Want to Upgrade?

To: coug who wrote (39)	7/15/1999 3:24:00 PM
From: $Mogul	Read Replies (1) \| Respond to of 675

Efficient Networks IPO Shrs Triple Price In Nasdaq Debut NEW YORK (Dow Jones)--Shares of Efficient Networks Inc. (EFNT) tripled in value Thursday in an initial public offering on the Nasdaq Stock Market. The Dallas company, which makes parts for high-speed Internet access systems, raised $60 million through the sale of 4 million shares. The stock priced late Wednesday at $15, the high end of the anticipated price range of $13 to $15, and opened Thursday at 46 1/2. Aftermarket demand has pushed the stock as high as 50 1/4. It traded recently at 47 1/2 on heavy volume of 5 million. Strong pre-pricing demand by institutional investors allowed the company to increase the range from $10 to $12 hours before the shares were priced. Efficient Networks makes equipment for digital subscriber lines, which provide low-cost, high-speed Internet access via existing copper wire lines. Internet infrastructure companies, particularly those related to DSL technology, have emerged as one of the most successful sectors for IPOs this year. Redback Networks Inc. (RBAK), for example, sold 2.3 million shares at $23 each in May and traded recently at 175 9/16. And Copper Mountain Networks Inc. (CMTN) priced 4 million shares at $21 also in May. The stock traded recently at 102 3/4. Analysts say new issues investors have gravitated toward more mundane infrastructure companies on the belief that companies that make the Internet run are a safer bet than so-called concept companies looking for a niche in the wide-open Internet marketplace. With 36.2 million shares outstanding, Efficient Networks had a market capitalization of $1.7 billion at the latest stock price. The company said it will use the proceeds for general corporate purposes. - Dunstan Prial; 201-938-5354

To: coug who wrote (39)	7/15/1999 7:02:00 PM
From: Electric	Read Replies (2) \| Respond to of 675

I am very impressed with this Co. I think the stock will be much higher given a 6-12 month horizon. The sector is hot, a good ammount of growth potential and given a few months there ought to be sector consolidation also. I expect tomorrow that unless the overall market is sour, there will be a big push up in the morning. I read the article in the dow jones news wire that compared this company to Redback and Copper Mountain, that is a good comparison. It seems that from a few analysts I saw commenting, that this stock will ought to be at much higher levels quite soon. I am looking forward to analyst coverage being initiated on the group down the road... Anyone in below the highs got in at a great price..