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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (21076)	10/18/2000 6:00:30 PM
From: Moonray	Read Replies (1) \| Respond to of 22053

I guess to be "Efficient", one would have to buy CS: Cabletron's assets hit by Efficient Networks' decline Wednesday October 18, 5:15 pm Eastern Time BOSTON, Oct 18 (Reuters) - The holdings of Cabletron Systems Inc's (NYSE:CS - news) tumbled on Wednesday when shares of Efficient Networks Inc (NasdaqNM:EFNT - news), which represents about 29 percent of Cabletron's total assets, dropped 37 percent. Based on Cabletron's reported holdings in late September, the $16-9/16 drop in the price of Efficient's stock on Wednesday would decrease the value of Cabletron's assets by $179 million. The company reported total assets of $1.9 billion at the end of September. Cabletron's Efficient holdings were worth about $555 million in early September and $1.7 billion in February, according to the U.S. Securities and Exchange Commission filing. Shares in Dallas-based Efficient Networks closed down 37 percent to $28-1/2 in Wednesday trading on the Nasdaq exchange. Rochester, N.H.-based Cabletron (NYSE:CS - news) reported in early September it owned 10.8 million Efficient shares. It closed down 1-13/16 or 7 percent to 25-3/16 in New York Stock Exchange trading on Wednesday. Cabletron did not return phone calls seeking comment. The Internet equipment maker said it sold about 660,000 Efficient shares, at prices in the high $50s, during the fiscal second quarter that ended Sept. 2. The company then said it was working closely with Efficient's management to sell its holdings in a ``rational manner,'' while remaining a significant investor and strong supporter. Cabletron received the stock in December 1999 as part of its sale of a subsidiary to Efficient Networks. o~~~ O