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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (2275)	2/4/2000 4:50:00 PM
From: Peter Sherman	Read Replies (1) \| Respond to of 10934

in this market, you don't need a reason for stox to fly - earnings do not leak these days --

To: MulhollandDrive who wrote (2275)	2/4/2000 10:57:00 PM
From: H.A.M.	Read Replies (1) \| Respond to of 10934

Network Appliance Up 12%, At 52-Wk High; Co Can't Explain February 4, 2000 Dow Jones Newswires By Bob Sechler AUSTIN, Texas -- Network Appliance Inc. (NTAP) shares rose as much as 17% to a 52-week high Friday in a move company officials weren't immediately able to explain. The shares hit an intraday high of 133 7/8, past the previous ceiling of 121 1/2 set Jan. 21. They were recently at 132, up 17 3/8, or 15.2%, on volume of 3 million, compared with a daily average of 2.6 million. Network Appliance Chief Financial Officer Jeffry R. Allen said the company made no announcements Friday that could have triggered the rise. He said the company finished its fiscal third quarter at the end of January and is in a quiet period leading up to its Feb. 15 earnings announcement. Pacific Growth Equities analyst Thomas Mancino said investors' anticipation of a solid quarter for the company could be fueling the rise. Network Appliance, which makes devices to store and deliver files over computer networks, is expected to earn 10 cents a share for the quarter, according to First Call/Thomson Financial, compared with 6 cents a year earlier. In addition, Network Appliance's shares have been on a roll for months. They've more than tripled since early November, when they were trading around a split-adjusted 40. "The stock is on a spike," Mancino said. "This company is the leader in network-attached storage, which is a very, very hot area." While offering no specific explanation for Friday's strong stock move, Allen concurred with Mancino that the upward trend is partly the result of a growing industry acceptance of storage devices that attach directly to networks, rather than going through traditional computer servers. "The general theme has been that network storage is the architecture of the future," Allen said. - Bob Sechler, Dow Jones Newswires, 512-236-9637