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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (5474)	9/23/2000 4:57:30 PM
From: Munificent Gnome	Read Replies (1) \| Respond to of 30051

Zeev: While you are correct about the exec from Data General, the head of ASPX's turnaround is without a doubt Sbona. Your info on cash is old. Part of the rise in ASPX this week is because of their improving fundamentals: Wednesday, September 20, 2000 ASPX continues gains --1:08 pm - By Michael Baron Auspex Systems (ASPX: news, msgs) is advancing $1.38, or 14.3 percent, to $11, building on Tuesday's plus 10 percent gain. The stock received an upgrade from Penn Merchant Group, the only firm currently covering Auspex, to "buy" from "long-term buy" on Tuesday afternoon. The firm also retained its $30 price target. Analyst Joel Achramowicz said Auspex has bettered its cash position of late. "We have reason to believe that Auspex has raised at least $74 million of additional capital in a private placement at about $7.90 per share," wrote Achramowicz in a research note. "Additionally, we understand that all of the remaining convertible preferred shares previously on the books have been converted to common recently." He said these developments will let Auspex claim more than $100 million in free cash on its balance sheet. Achramowicz was also bullish about the Santa Clara, Calif., network server firm's quarterly performance, saying Auspex's revenue could come in as high as $16 million, above the firm's $15.3 million estimate. "The quarter is also tracking well with our revenue and earnings estimates as previously published," he wrote. "The important issue at this time is that we believe strongly that Auspex has the current quarter in the bag." He sees significant upside to the stock at these levels. www2.marketwatch.com