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Technology Stocks : Research In Motion TSE RIM Nasdaq RIMM -- Ignore unavailable to you. Want to Upgrade?

To: SurfForWealth who wrote (645)	2/8/2000 8:33:00 AM
From: Rhys Roberts	Read Replies (1) \| Respond to of 989

Yet another article on the hot wireless stocks, (slight mention of RIM) Small tech stocks gain as TSE pulls back: Nasdaq extends winning streak to six days DATELINE: TORONTO BODY: TORONTO -- Small Ottawa technology stocks shone yesterday as investors backed away from big recent gains by Nortel Networks Corp. and BCE Inc. Plaintree Systems, International Datacasting and SGEM Inc. scored healthy price gains. Placer Dome Inc. and other gold miners reversed earlier gains after Barrick Gold Corp. failed to pledge a halt to future sales of borrowed gold, as traders had expected. Placer announced on Friday it would halt the practice, known as hedging, which has increased the supply of the metal and reduced prices. The Toronto Stock Exchange 300 Composite Index fell 53.25, or 0.6 per cent, to 9,155.95. About one stock rose for each that fell. 'A lot of fund managers look askance at Nortel's market value,' said Jim Doak, a partner at Toronto-based hedge fund Enterprise Capital Management. 'They have no pricing power in their fibre-optic business and their other businesses are declining. I think people would like to see the TSE as a whole make the record gains, rather than just the two darling stocks.' Nortel fell $6 to $165. BCE, Canada's biggest phone operator and owner of 39. 2 per cent of Nortel, fell $3.55 to $167.45. Both stocks closed at $171 Friday after a 12 per cent gain by Nortel and a nine-per-cent gain by BCE that powered the TSE 300 to a 314-point gain and record high. Nortel's share price has more than tripled in the past 12 months. BCE Emergis Inc. was the TSE's biggest gainer, surging $25.45, or 17 per cent, to $174. 95 after it announced it will buy United Payors & United Providers Inc. to strengthen its position in Internet-based health care and financial services. Research in Motion, a wireless business, jumped $13.50 to $149. The shares have risen 56 per cent in five trading days. Plaintree Systems soared $1.20 to $2 on heavy investor interest in one of the few penny stocks left among small technology issues. International Datacasting rose 60 cents to $7 as investors continued to bet that satellite data transmission will be a big Internet market. Its shares have gained 78 per cent in five trading days. SiGEM Inc., a small Kanata wireless company, gained 60 cents to $4.25, and is now up 77 per cent in five days.