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.

Technology Stocks : ONI Systems Corp. (ONIS) -- Ignore unavailable to you. Want to Upgrade?

To: KevRupert who wrote (12)	5/21/2000 6:59:00 PM
From: Glenn Petersen	Respond to of 227

I'm going to give it a shot, though I suspect that ONIS will open somewhere in the vicinity of $50. BTW, I first read Edwin Lefevre's book when I was in my mid-teens. It made me hyperventilate and pine for an lost era. Not that I have a gambling problem. LOL. Who would have guessed that we would have online bucket shops. I distribute two or three copies a year to various friends. Regards, Glenn. An excerpt from CNET.news.com: news.cnet.com Networking firms may boost slumping IPO market By Dawn Kawamoto Staff Writer, CNET News.com May 19, 2000, 12:35 p.m. PT After a series of dismal weeks in the IPO market, networking firms that focus on the hot market for fiber optics are giving some life to Wall Street. ONI Systems, a telecommunications company that builds optical networks, plans to offer 8 million shares next week to raise up to $184 million, based on the high end of its price range. The company yesterday raised its range to $22 to $24 per share from a range of $14 to $16. Analysts say that the interest in fiber-optic builders is a good sign that there may be some life yet in the market for public offerings. Just this week, optical equipment builder New Focus doubled in its market debut. The performance marked the first time in more than a month that an IPO managed to double its initial price on the first day of trading. "We're starting to see investment bankers coming back to the markets with selective deals in fiber optics and semiconductors," IPO.com senior analyst Jeff Hirschkorn said. ONI develops and markets communications networking equipment based on optical technology to metropolitan and regional networks. Formerly called Optical Networks, the company competes against networking companies such as Nortel Networks and Ciena, as well as a number of start-ups, such as Chromatis Networks, that are now entering the hot market. Analysts say that ONI is well positioned, as there are still few large players to compete with. Yet that is expected to change soon, SG Cowen analyst Jim Kedersha explained. "The market has started to move, but it hasn't exploded yet," he said. During the three-month period ending March 31, ONI Systems generated revenues of $3.6 million, compared with $565,000 a year earlier. Net loss increased to $34.2 million for the period, compared with a loss of $4.8 million a year ago. The company will trade under the ticker "ONIS."