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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (8492)	11/15/2000 12:18:34 PM
From: Paul Lee	Respond to of 14638

Roth and insiders have been buying When Nortel stock plunged, company insiders bought By Ian Karleff TORONTO (Reuters) - Nortel Networks Corp. chief executive John Roth and other company insiders bought about $2.2 million worth of Nortel shares in the week following a sharp drop in the company's stock price last month. Documents filed with the Securities and Exchange Commission show that insiders at Nortel Networks stayed bullish on their company's prospects despite the stock market's verdict, buying 51,900 shares between Oct. 25 and Oct. 30 for prices ranging from $40.13 to $48.38. Shares of Brampton, Ontario-based Nortel plunged after it released its third-quarter earnings on Oct. 24. The earnings beat analysts' estimates but Nortel reported only 90 percent growth in its optical equipment sales, compared with analysts' expectations of 125 percent growth. In the week following the earnings release, the shares fell to $42-9/16 from $63-5/16 on the New York Stock Exchange, or 33 percent. At $38 Wednesday, they were down 40 percent since Oct. 24. Nortel's shares were trading at C$58.90, down C$1.85 Wednesday on the Toronto Stock Exchange, and have traded in a range between C$124.50 and C$53.30 in the past year. Wall Street's impression of the company's future as displayed by a series of stock and earnings downgrades did little to dampen the enthusiasm of Nortel's top brass for the company's stock. Filings with regulators show Roth bought 33,000 shares on Oct. 30 at an undisclosed price. On that day the shares traded between $40 and $42-4/16. Other company insiders also stepped up to the plate, with chairman of the board Frank Carlucci, and directors Robert Ingram, Guylaine Saucier and James Blanchard buying a total of 16,300 shares for prices ranging between $47 and $48. And Kannankote Srikanth, president of Nortel's global professional services, bought 1,200 shares at $46.75 on Oct. 27, a few weeks after he brokered a 10-year $1.4 billion project with Britain's Cable & Wireless Plc for the building and managing of an advanced data/voice network.

To: The Phoenix who wrote (8492)	11/16/2000 10:26:27 AM
From: Master (Hijacked)	Read Replies (1) \| Respond to of 14638

"CIBC went so far as to call Nortel’s third-quarter meltdown* a mere hiccup."* MELTDOWN....MELTDOWN How can we trust a reporter who describes NT's slight shortfall last qtr as a Meltdown?