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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (3554)	9/25/2000 8:05:57 AM
From: Jill	Respond to of 65232

Re: LHSP tho, Lurq is right, look at this a.m.'s news: BRUSSELS, Sept 25 (Reuters) - Shares in troubled speech technology company Lernout & Hauspie fell over six percent on the Easdaq exchange on Monday on continued questions about the company's future, analysts said. The Wall Street Journal Europe, which has been examining L&H's business practices over recent months, in an article on Monday raised further questions about its business in southeast Asia. In addition, L&H co-founder and co-Chairman Jo Lernout in a radio interview on Monday said he feared that the company could become subject to a takeover. By 1045 GMT, L&H was down 6.8 percent at $14.4 having earlier touched a more than four-month low of $14 on the Brussels-based exchange. The stock has lost 47 percent since September 18 and about 80 percent since reaching an all-time high of $70.50 in mid-March. The stock on the U.S. Nasdaq <LHSP.O> closed at $13-5/8 on Friday. L&H has been stung by questions raised by a sudden surge in its southeast Asian sales figures. L&H last week said that the U.S. Securities and Exchange Commission had opened an investigation into the company. "There is much more downside potential for the stock, if the company has to revise its financial statements and if its engineers start leaving...as they see their stock options plans hugely reduced," Fortis analyst Patrick Michielsen said. "The story at present on Lernout is bad for business as potential customers might be put off buying their technology." Jo Lernout, who also serves as co-Chairman of the Belgian company, said in a Belgian radio interview that the share had reached a price level at which the company's fears for a takeover bid, hostile or not, were justified. "In the next few days, we will prepare thoroughly for what we fear," he added without elaborating. An L&H spokesman said that company officials were not available to comment further on Lernout's remarks. Analysts were sceptical about the possibility of a takeover, saying the present uncertainty surrounding the company's future and financial health would likely put off any contender. "The feeling I have is it's pep talk to get the share price up. They shouldn't fear a takeover. It's good for the shareholders unless it's hostile," said an analyst, who declined to be identified. "Bidders, if there are any, will wait for the probe and the internal audit to be completed. I don't think there will be any bidders knocking at the door until then." The company in mid-August said it had asked its usual independent auditor KPMG to conduct a special mid-year interim audit following a newspaper report citing discrepancies in its sales information. ((Nikla Gibson, Brussels newsroom +32 2 287 6810, fax +32 2 230 7710, belgium.newsroom@reuters.com)) REUTERS Geez, EXTR up premarket. Think I'm going to take profit on my 100s and roll out to 120s in first half hour, keeping some profit for a pullback entry.