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Technology Stocks : CPCI - great earning , BARRON's suggest -- Ignore unavailable to you. Want to Upgrade?

To: Neil S who wrote (450)	1/5/1998 5:16:00 PM
From: Aaron Cooperband	Respond to of 586

Neil - Re: "stock repurchase is a statement of confidence" In our discussions we should not forget that CPCI's management owns bucketloads of options. They obviously want the stock to go up as badly as we do. If they didn't like the company at this price, they wouldn't be levering their "investment" via the repurchase. Actually, I've been a bit surprised that it took them so long to announce a buyback. Maybe it has something to do with the fact that they just did a secondary offering recently at a significantly higher price. Aaron

To: Neil S who wrote (450)	1/5/1998 5:43:00 PM
From: White Shoes	Read Replies (2) \| Respond to of 586

My take is sort of a hybrid...(1) uh oh and (2) we've known all along that the 7000 is ahead of the curve, and more than many customers need. So...CPCI still has a bright future. On the other hand the spottiness in their business is real, and the near-term future is not all that bright. And...buying back stock after issuing it...I suppose smart business but bound to tick off anyone who bought the secondary at $26. Seems like management saying "Oops, we didn't need that money after all, but thanks for it, we'll buy our own stock back now."