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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (1662)	1/15/2002 3:13:47 PM
From: Crossy	Read Replies (1) \| Respond to of 95611

RtS, re: FCS there's just one caveat but this is just a slight shortterm issue: this fall FCS took advantage of the low rates and issued a cheap convertible with very low interest rates attached. Around $200m convertible at $30. That's the reason the stock didn't make it above $30 during the recent runup. I sold my holding (with a nice gain) around $29.50. In the low 20ies it's a great buy and midterm the $30 ceiling will certainly be taken out.. The $30 conversion provision and the $200m convertible should accound for an overhead supply of around 7m at $30. Not too high when compared to float.. rgrds CROSSY