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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Eric Wells who wrote (106653)	7/28/2000 11:12:56 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

>Any thoughts on when this will end? When U Al comes out and says "There is no inflation, and I'm not going to raise interest rates ever again". Btw The $millions the insiders have sucked out of Amazon.com since it went public is not inflationary. They just call it legal theft.

To: Eric Wells who wrote (106653)	7/28/2000 1:05:00 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Sold all of Corv at 93 3/4 because of a $31bil market cap with no recorded revenue. > New York, July 28 (Bloomberg) -- Corvis Corp. shares more than doubled after the maker of equipment for fiber-optic networks raised $1.14 billion in an initial public offering, a record for a startup company that has yet to show any revenue. Corvis surged to 95 when the shares began trading in midday, giving the company a market value of more than $30 billion -- also a record for a technology startup, according to the company's banker, Credit Suisse First Boston. Corvis last night sold 31.6 million shares at $36 each, raising almost three times as much as it was planning just three days ago. ``It's hot, hot, very hot,'' said Richard Begun, manager of the Orbitex Growth Fund. ``Corvis is involved in the optical networking area. Demand is very high for these products.'' Demand for fiber-optic equipment and parts is surging as use of the Internet grows, boosting the fortunes of companies such as Corvis and Avici Systems Inc., a maker of high-capacity data- traffic routers which also went public today. Avici shares more than tripled to 101 after the North Billerica, Massachusetts-based company raised $217 million in an initial public offering, after twice boosting the sale to meet robust demand. Avici sold 7 million shares at $31 apiece, above the $28 to $30 price range set on Monday by its bank, Morgan Stanley Dean Witter & Co. The price was above the original range of $18 to $20 set in June. 10 IPOs Corvis' IPO was the biggest of 10 sales last night, the most companies in a single day since October last year, according to CommScan's figures. First-day gains for many may be constrained, though, by sliding technology stocks. The Nasdaq Composite index fell as much as 1.1 percent in early trading, extending its slide this week to 9 percent. It hasn't hurt optical networking companies, which are tapping growing use of the Internet and the fiber-optic networks used to transmit the data. ``The future for Corvis looks pretty good,'' said Steve Catricks, analyst with Blackrock Inc.'s emerging growth team. ``It will probably become a top-tier optical networking company.'' Corvis's gear can send optical signals up to 1,989 miles, compared with about 250 to 370 miles for equipment made by companies such as Ciena Corp. That lets network operators move calls and data across networks faster and more cheaply. The company was started by David Huber, who also founded Ciena in 1992. ``What Corvis has got is a product that is pretty unique,'' said John Ryan, chief analyst at communications-technology researcher RHK Inc. ``David's done it again.'' Columbia, Maryland-based Corvis, founded three years ago, has a pair of agreements each worth $200 million to sell equipment to Williams Communications Group Inc. and Broadwing Inc. The sales depend on successful testing of Corvis's products. Corvis said it successfully completed tests with Broadwing. Qwest Communications International Inc. also agreed to buy $150 million of Corvis gear. Without generating revenue, Corvis lost $26.8 million in the three months ended April 1 and $71.3 million in the year through Jan. 1. Jul/28/2000 12:43 ET