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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: BirdDog who wrote (8820)	8/1/2001 7:15:59 PM
From: Sully-	Respond to of 10934

Network Appliance rises on report By Jenny Spitz, CBS.MarketWatch.com Last Update: 6:03 PM ET Aug. 1, 2001 SUNNYVALE, Calif. (CBS.MW) -- Shares of Network Appliance leapt 22 percent Wednesday, following a positive report from brokerage firm Wit Soundview. The stock rose $2.68 to close at $15.16 with more than 36 million shares changing hands. Following a presentation by Network Appliance (NTAP: news, chart, profile) President Tom Mendoza, Wit Soundview said it feels "more comfortable" that the company will meet July-quarter numbers and that any trimming in the outlook will be minor. The brokerage added it has heard July was the network storage firm's strongest month so far in 2001, with improvement coming on large enterprise purchases. Wit Soundview did not give a source for the information about July. Fewer of Network Appliance's deals are being delayed overseas and buying has picked up among international customers over the last 30 to 45 days, said Wit Soundview. Based on the news, Wit Soundview said, "We are confident we will not need to lower our $220 million October-quarter estimate. We still believe the stock is partially priced for a miss and are buyers ahead of the quarter." The firm rates Network Appliance a "buy." Sunnyvale, Calif.-based Network Appliance is scheduled to report earnings on August 14. marketwatch.com{14809913-EFCE-4F1A-B817-961E67E4DDC5}&siteid=yhoo