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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Twister who wrote (23463)	7/22/1999 9:40:00 AM
From: Mr. Twister	Read Replies (2) \| Respond to of 29386

I guess this is the reason that PIPR arrived on level2 today. Andrew (NewsTraders) USB Piper Jaffray Starts Ancor Comm, Fastenal At Buy (ANCR,F USB Piper Jaffray Starts Ancor Comm, Fastenal At Buy (ANCR,FAST) (NewsTraders.com)-- U.S. Bancorp Piper Jaffray analyst Ashok Kumar initiated coverage on Ancor Communications (ANCR) today with a "buy" rating and $45 price target. Kumar expects the fibre channel switch provider to post a net loss of $0.33 a share in 1999 and a per-share net gain of $0.08 in 2000. Separately, Piper Jaffray's Stephen Jacobs initiated coverage of Fastenal Co. (FAST) with a "buy" rating and 12-month price target of $66. Jacobs has set 1999 and 2000 EPS estimates of $1.77 and $2.21. Shares of Ancor closed yesterday at $31.75, while Fastenal stock ended the day at $57.19. Copyright 1999 NewsTraders Inc. All Rights Reserved 09:31 Thursday, July 22, 1999 * end of story *

To: Mr. Twister who wrote (23463)	7/22/1999 7:45:00 PM
From: Tom Duescher	Read Replies (1) \| Respond to of 29386

Results from some other recent secondary offerings July 11, 1999 02:43 PM By Cal Mankowski NEW YORK , July 11 (Reuters) - Investors who may be annoyed that their broker cannot get them a piece of the latest hot IPO, or initial public offering, might want to take a look at secondary stock deals. Long a bit of a backwater in the securities markets, the new interest in large offerings of stock in already public companies is linked to the revival of the small-cap and micro-cap sectors, says money manager Bob Kern. "Historically, when secondaries were announced, it meant increased supply and (the company's) stock came under pressure," Kern said in an interview. "The secondary was done at a price lower than when the secondary was first announced." But consider the case of Emulex Corp.EMLX . When the Costa Mesa, Calif.-based developer and supplier of products that aid data storage announced a public offering of 2.1 million shares in April, the stock was trading in the 30's. The deal priced the stock at $61 a share. Since then, the stock has climbed above $100. It rose 1-7/8 to 105-1/8 Friday, on a day when the Nasdaq Composite index set yet another record, ending at 2,793.07, up 21.21 points, or 0.77 percent. A similiar pattern was seen in secondary deals for HI/FN Inc. HIFN , a Los Gatos, Calif.-based semiconductor company, and Realty Information Group Inc.RIGX , a Bethesda, Md.-based commercial real estate information service provider. On Friday, HI/FN gained 1/2 to 69-5/8, compared with the price of the secondary offering at 33. And Realty Information, also up 1/2, was at 46, compared with the price of the secondary at 34-1/2. Kern argues that one of the reasons fund managers have been cool toward smaller stocks is the difficulty of buying or selling the shares in quantity without affecting the price. But now institutional investors have come to embrace the secondary as a way to buy the stock in size. When public companies sell more stock in the public market, the deals are sometimes referred to as "follow-on" deals.