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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: johnd who wrote (33277)	11/8/1999 5:20:00 PM
From: jmac	Respond to of 74651

I couldn't agree more. Funds were flush with MSFT shares. So, your conclusion makes sense to me. But, then again, I didn't think there was a stock buyback program in effect and I thought the executives of MSFT believe their stock is over-valued. So, maybe not.

To: johnd who wrote (33277)	11/8/1999 5:22:00 PM
From: Peter Greenhill	Respond to of 74651

Excellent performance by the stock today, certainly not the meltdown some predicted. Obviously a lot can happen in the days ahead but today showed MSFT to be a very robust stock which rewarded the faith that many holders have in it. Some people, particularly here in the UK, were writing off the company over the weekend. Nice to see some egg over their faces.

To: johnd who wrote (33277)	11/8/1999 5:23:00 PM
From: t2	Respond to of 74651

johnd, MSFT bought about 12million shares last quarter at an average price of 85. I bet they were buying a little more aggressively today but even if they bought 500,000 shares, it would be insignificant to the overall trading volume. Whether they bought or not probably had no effect on the stock today. When the volume drops to 20 million, they might be able to influence the price somewhat. However the best way is to announce a stock repurchase program----i have never heard them publically announce it before.

To: johnd who wrote (33277)	11/8/1999 5:41:00 PM
From: Gerald Walls	Read Replies (1) \| Respond to of 74651

I think today MSFT was a heavy buyer of its own shares for under 90. 120million volume. Who was buying? Maybe, but if they bought 1,000,000 I'd be shocked. The institutions were doing just what the fund managers all said should be done when they were interviewed over the weekend: taking advantage of the buying opportunity. It would appear that a decision almost as bad as the one handed out was already priced in. Also, the stock moved pretty strongly in the last hour. It's my understanding that companies can not buy their stock in the last hour of trading. This regulation is to prevent them from affecting the market.