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Technology Stocks : Ascend Communications-News Only!!! (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Perry who wrote (645)	12/4/1997 4:35:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 1629

Ascend (NASDAQ:ASND) jumps on takeover rumor - traders Reuters, Thursday, December 04, 1997 at 16:27 NEW YORK, Dec 4 (Reuters) - Shares of Ascend Communications Inc (NASDAQ:ASND) jumped Thursday afternoon as market rumors of a possible takeover resurfaced, traders said. Shares of the networking company spiked in the afternoon, gaining quickly after 1300 EST/1800 GMT. Ascend, which opened at 23-3/4, jumped from 23 at 1300 EST to 25 by 1400 EST. Ascend then hit a high of 28-1/4 before settling at 26 at 1534 EST. Traders said telecommunications equipment makers Lucent Technologies Inc (NYSE:LU) and Northern Telecom Ltd (TSE:NTL) were seen as possible buyers. Lucent declined to comment, saying it does not comment on market rumors or speculation as a company policy. A Lucent spokesman, however, pointed out that Lucent has already announced an acquisition in the data networking arena -- privately held Livingston Enterprises Inc. Northern Telecom also declined to comment on the Ascend rumors. Ascend could not be reached immediately for comment. Rumors of the takeover surfaced Thursday in the options market, a trader said. Other market sources said the rumors pegged the takeover price at $35 a share. "It's buyout rumors. But we've heard them before, so who knows. But they (the rumors) are back," one trader said. Thursday's rumor renewed speculation that circulated on October 17. At that time, Ascend rallied to about 35 a share as market rumors tied Ascend to Lucent. Ascend, which acquired Cascade Communications in a stock deal earlier this year, has been seen as an acquisition target as its shares have fallen from their year's peak of about 80 a share. Copyright 1997, Reuters News Service