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.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (43532)	12/11/1999 1:55:00 AM
From: computer_doc	Read Replies (1) \| Respond to of 108040

:) Those are great sites Shades. I'll be sure and consult them every day... Jim

To: shades who wrote (43532)	12/11/1999 2:13:00 AM
From: puborectalis	Respond to of 108040

Saturday December 11 12:19 AM ET Tyco Shares Stage Partial Recovery EXETER, N.H. (Reuters) - Shares in manufacturing conglomerate Tyco International Ltd. (NYSE:TYC - news) surged on Friday on favorable analysts' reports, a day after Tyco shares were hammered by revelations of a regulatory inquiry into the company's accounting practices. Tyco shares rose 2 to close at 30 on heavy volume of more than 46.9 million shares in late trading, making Tyco the most active issue on the New York Stock Exchange. Volume was far above Tyco's average daily volume of more than 10.5 million shares. Warburg Dillon Read analyst Quinten Nufer said the Securities and Exchange Commission's informal probe will limit near-term price growth, but he called it ''a positive'' that the inquiry ''will finally clear the air regarding Tyco's accounting.'' Nufer maintained a ''strong buy'' rating on the stock, with a $60 price target. Lehman Bros. on Friday resumed coverage of Tyco with a ''buy'' rating and a price target of $80, while Schroder & Co. analyst Richard Rossi boosted his rating on the stock to ''recommend'' from ''outperform,'' with a $40 to $42 price target. ''I think the sell-off drove the valuation down to a level that was very attractive,'' Rossi said. Analysts said Tyco's strong cash position gives it credibility. For months, Tyco has been dogged by questions over accounting related to its multibillion-dollar acquisition spree. On Thursday, Tyco revealed it was the target of an informal SEC inquiry. On Friday, at least two shareholder class action lawsuits were filed against the company. One suit, filed in the southern district of Florida, alleges securities fraud in connection with two Tyco acquisitions. A second, filed in the district of New Hampshire, charges the company issued false and misleading statements and engaged in deceptive accounting practices. In a filing with the SEC on Friday, Tyco said it had read reports that six shareholder class actions suits had been filed against it, but it had not yet received the complaints. Tyco said it and individual defendants named in the suits, ''will vigorously defend against all such actions.'' Chief Executive Dennis Kozlowski said on Thursday he is confident in the company's accounting methodology and public disclosures. Tyco shares were bludgeoned on Thursday, losing 8-1/4 to 28, way below the company's 52-week high of 53-7/8. Tyco, based in Bermuda but run from Exeter, N.H., has made four dozen acquisitions totaling $37 billion since the beginning of 1997, according to Thomson Financial Securities Data. But the company has faced criticism over its use of pooling-of-interest accounting. In at least two purchases, the acquired company slowed revenue growth or wrote off significant assets in the final quarter before it was bought, allowing Tyco to show increased earnings growth in subsequent quarters. Schroder's Rossi said if any adjustment resulted from the SEC probe, ''I'd expect it to be minimal, at most.''