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

To: blankmind who wrote (25927)	12/4/1997 9:20:00 PM
From: pat w.	Respond to of 61433

Ascend "comfortable" with Q4 consensus Reuters Story - December 04, 1997 20:18 %DPR %TEL %RESF %US ASND %MRG COMS CS V%REUTER P%RTR ------------------------------------------------------------------------ PALO ALTO, Calif., Dec 4 (Reuters) - Ascend Communications Inc executives are "comfortable" with Wall Street analyst earnings forecasts for the fourth quarter, the company's finance chief said on Thursday. "We are fairly satisfied with the business and the outlook," said Michael Ashby, chief financial officer of the computer networking gear vendor. "We are still comfortable with fourth quarter and 1998 estimates." Ascend shares jumped $3.25, or 14 percent, to $26.875 on Nasdaq trading of 17.5 million shares, the second most active stock in U.S. markets. Ashby said Ascend's stock jumped because investors were expecting the company to warn of lower-than-expected earnings forecasts, as rivals 3Com Corp and Cabletron Systems Inc did this week. Wall Street expects the Alameda, Calif., company to earn $0.24 a share for the fourth quarter, according to a recent analyst survey by Zacks Investment Research. Also on Thursday, fresh speculation surfaced that Ascend was about to be acquired by a larger networking vendor, such as Lucent Technologies Inc. Ashby said Ascend's policy is not to comment on buyout speculation. "It's an old rumor," he added. <Picture>Headlinesÿÿ<Picture>Next Story