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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: hotlinktuna who wrote (9251)	7/2/2002 8:14:44 PM
From: Dave Gore	Respond to of 16631

Tuna, that's a tough one. There is a C.C. going on right now. You'll know in the morning or later tonight. I almost bought this in A.H. but didn't feel more than 55-45% for it, so I passed.

To: hotlinktuna who wrote (9251)	7/2/2002 9:05:48 PM
From: Dave Gore	Read Replies (2) \| Respond to of 16631

Tuna, careful of ELN, even at $1.00 if it gets there. Unless they do some big explaining on the C.C. they may be in bigger trouble. Anybody else have comments? From Merrill's report: ..."Elan said earlier Tuesday that it may have to take non-cash impairment charges in the second quarter to reflect the loss in value of its investments and other holdings in emerging biotech and pharmaceutical companies and the charges would be significant. The stock lost 45 percent in early trade Tuesday and has lost more than 90 percent since accounting concerns surfaced earlier this year." From Yahoo: (anyone read the article? Is this what was said?) "WSJ article had Elan pegged by: orioles70 07/02/02 08:25 pm Msg: 60929 of 60941 looks like the WSJ was right about all the games going on at Elan - they're more interested in financial parlor tricks than actually developing drugs it's a shell game set up a hundred JVs loan them 20 MM each have them give 15 MM back count that as revenue and that was just the beginning the "paper" losses today are very real just because they don't have to sell securities now doesn't mean they are free to pretend that things are worth more than the market says they are Elan is a den of thieves"