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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Timoteo who wrote (163)	1/5/1998 4:29:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 18691

I shorted more AVNT at 17 1/2. Hsu is playing the press release game again. he did the exact same thing last year by announcing a $50 mil. contract with an "undisclosed company" under "undisclosed terms". I am quite sure that this is simply an attempt to goose the stock price so that the TMAI merger goes through. If you look at the deal carefully, it is clear that this merger is simply an attempt to launder AVNT stock. Both companies are in bad financial shape. If it weren't for the fortuitously timed press release, the stock would've closed below 15 today. My guess is that selling pressure will continue tomorrow. I believe that AVNT will soon trade in the single digits and it may very well cease to exist as a company altogether.

To: Timoteo who wrote (163)	1/5/1998 4:30:00 PM
From: j glad	Respond to of 18691

"Speak of the devil AVNT up to 18 from its day low of 14 3/4 with news release of 57 million worth of sales to unnamed major semiconductor companies with unnamed time frame" Sounds kind of fishy to me. One thing that is disclosed is that the agreement involves two computer chip makers and AVNT's Apollo software products. The federal judge in Dec. ordered Avant to turn over design codes for Apollo (among other products) to Cadence so that Cadence can determine if the product is based on its source code.