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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: frank who wrote (17454)	2/22/2000 1:53:00 PM
From: zbyslaw owczarczyk	Respond to of 18016

Newbridge up on hopes for results, takeover talk OTTAWA, Feb 22 (Reuters) - Shares in takeover target Newbridge Networks Corp. (Toronto:NNC.TO - news)(NYSE:NN - news) surged nearly 7 percent on Tuesday ahead of third-quarter results expected to beat analysts' consensus estimates and on expectations that a takeover deal is imminent. Stock in the network gear developer -- widely believed to be on the verge of announcing its sale -- added C$3.20 on the Toronto Stock Exchange to trade at C$49.95 in turnover of 886,000 shares. On New York, the stock picked up 1-5/16 to trade at 34-3/16 with 1.5 million shares changing hands. ''Until you get a definitive answer one way or the other on what's happening (with a takeover), it's going to swing like this,'' said Gurinder Parhar, analyst at Dundee Securities in Toronto. ''That's just the reality of the market right now.'' He expects analysts on the post-earnings conference call with management scheduled for after market close on Tuesday will divide their questions between the firm's financial results and takeover rumors. France's telecoms equipment maker Alcatel is rumored to be readying a multibillion bid. Newbridge has been under an intense takeover watch since November when it hired an investment banker and said it was open to bids. That followed its sixth earnings warning in 10 quarters. The consensus for the third quarter from 17 brokers polled by First Call/Thomson Financial is a profit of 11 cents per share for the period ended January 30. Parhar, who expects a profit of 12 cents per share, joins many analysts who believe Newbridge will better estimates by one or two cents. ''Clearly, an indication of striking sales out of the U.S. market would be greatly appreciated,'' he said. ''I am expecting to hear that. They've actually got a couple of nice contract wins.'' Parhar was less certain whether Newbridge would announce its sale along with the financial results. ''It's not in Newbridge's control and the other company has their own issues to deal with,'' he said. ''You can make logical arguments about anyone, so let's just see who it is.'' ($1=$1.46 Canadian)