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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (7354)	6/1/2001 1:46:04 PM
From: craig crawford	Read Replies (1) \| Respond to of 57684

Not trying to pick a fight, just thought you might be interested to know since you are long a couple of these. June 1, 2001 Insider Sales Raise Questions About the Recent Tech Rally By Peter Edmonston WSJ.com public.wsj.com A large part of the selling among Internet insiders came at online auctioneer eBay , whose shares have risen more than 65% since the end of March. In April, top executives filed to sell more than 2.3 million shares valued about $110 million -- that's up from zero the previous month. An eBay spokesman, Kevin Pursglove, says these sales were part of a "programmed selling schedule" observed by the executive team and the board. Most analysts take such patterns into account when they examine insider selling. "You have to look how it compares with historic selling," says Tim Albright, an analyst at Salomon Smith Barney. "In the case of eBay, it's a very regular pattern." Novellus Systems , a seller of chip-making equipment, also saw a flurry of insider sales in April, a month when Novellus' shares surged 36% to $55.15. Eight executives and directors filed to sell a total of $34.9 million in Novellus stock, compared with just $1.4 million in sales the previous month. Among the sellers were Richard Hill, Novellus' chairman and chief executive; Peter Hanley, the company's president; and Robert Smith, its executive vice president and chief financial officer. A Novellus spokeswoman says the pickup in insider activity was related to regulatory restrictions on when top executives can sell company stock.