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

To: R.E.B. who wrote (13341)	8/23/1999 3:58:00 PM
From: Hawaii60	Read Replies (1) \| Respond to of 30916

Just released by Reuters....... (REUTERS) Net2Phone shares rise as quiet period nears end Net2Phone shares rise as quiet period nears end NEW YORK, Aug 23 (Reuters) - Shares of newly public Internet telephone company Net2Phone Inc. <NTOP.O> soared Monday, a day before the end of a legally mandated period barring comments by the company or analysts. The shares rose 36 percent, or 12-3/4, to 48-1/4, in afternoon trading on the Nasdaq stock market, easing from a record high of 50-5/8 earlier in the day, but still outstripping gains in the Nasdaq composite index. Companies are prevented by the U.S. Securities and Exchange Commission from making comments for a period of time following their initial public offering. Analysts at firms that underwrote the shares in the IPO are also prevented from making comments or issuing recommendations. The lead underwriter for Net2Phone's IPO was Hambrecht & Quist. The so-called quiet period for Net2Phone ends Tuesday. Shares of the Hackensack, N.J.-based company were among volume and percentage-gain leaders on the Nasdaq. The company, which enables users to make low-cost phone calls over the Internet, has posted sharp gains since it went public at $12 a share on July 29. Net2Phone shares also closed up 29 percent on Friday. Telecommunications company IDT Corp. <IDTC.O> owns 57 percent of Net2Phone. IDT shares were up 2-5/16 at 20-1/8 on Nasdaq. The high volume and low number of block trades in Net2Phone shares Monday suggests that individual investors, rather than institutions, were responsible for the run-up. A Net2Phone spokeswoman declined to comment, citing the quiet period and an IDT spokesman could not be reached for comment. ((New York Newsdesk, 212-859-1700)) REUTERS * end of story *