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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (4830)	11/22/1997 5:01:00 AM
From: Tharos	Read Replies (1) \| Respond to of 17367

Monday is Labor-Thanksgiving Day (observed), won't be any local market reaction to news until Tuesday. In late breaking news, the Bank of Japan is going to lend Yamaichi uncolateralized loans. Xoma is trending within established patterns, continued consolidation at this level is good, it gives us a higher springboard from which to jump for $9. Agree that the amount of news recentely released should have more of a positive response in the stock's price. I can only guess it is related to Xoma's E5 failure and people are waiting for proof the stuff really works.

To: chirodoc who wrote (4830)	11/22/1997 11:09:00 AM
From: Tharos	Read Replies (1) \| Respond to of 17367

New Xoma chart and update on Yamaichi Securities. I've updated the Xoma chart. From the chart the stock looks good if we ignore the fact that we expected it to rally to new levels based on the recent news releases. geocities.com The Yamaichi Securities saga continues to unfold. But let's start with Sanyo Securities and the Hokkaido Sapporo Bank. Both of these organizations had more in debt than they had assets to cover the debt, so the government is letting them go out of business. As I have indicated before, this comes as no surprise to me and is what I expected to happen. The government will protect individual account holders. Yamaichi Securities is a bit different. I did make a mistake on the numbers. The government found Yamaichi was hiding ni-sen-oku en (200,000,000,000), or about $1.6 Billion (@ Y125/$1) in losses related to contractual obligations. This brings their total loss to san-cho en (3,000,000,000,000), which is $24 Billion at the same rate. The government bailed out Yamaichi in the 50s during a bond crisis by giving Yamaichi unsecured loans. Then, as now, Yamaichi's assets exceeds their debt. So the Finance Ministry has once again extended the offer of unsecured loans to Yamaichi. Yamaichi officials are meeting this weekend to decide if they want to close the firm or accept the government loans. It is believed they will make the announcement this Monday (Japan). This info comes from TV and the newspaper. The article in today's Ryukyu Shimpo (newspaper) said Yamaichi was going to close, but did not say how they knew this. The TV reports indicated that none of Yamaichi's employees have yet been told the firm will close, usually a precursor to the actual closing of a firm. Closing the firm would affect a lot of people, as Yamaichi has some 127 offices here in Japan + some offices overseas.