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Biotech / Medical : VISX -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (448)	3/15/1998 1:16:00 AM
From: John Binford, Jr.	Read Replies (1) \| Respond to of 1754

In February, Visx filed a petition for the dissolution of PPP. This is a very big event, although if it takes a court hearing it could still be a long time. PPP has breakup clauses that would cross-license Summit and Visx so that each would basically keep the royalties from their own machines. Since Visx is keeping the Lasik royalties already, they have applied significant pressure on Summit to negotiate some kind of settlement to allow each company to quit wasting money on lawsuits. I would bet that Visx would forgive the $4.5 million that Summit owes in machine royalties if Summit agreed to dissolve PPP and let each company go their own way. Procedures have really been picking up in January and February and the profits from the procedure royalties should propel Visx with very strong earnings growth. And earnings move the stock. This is the first quarter that Visx will crush year over year, and that contributes to the renewed interest in the stock. I think many always liked Visx, but thought they would have time to get back onboard when the earnings started back on the growth track. As for the trading in the stock, it appears more than ready for momentum players to jump aboard. The stock looks very likely to move higher in the near future. I think even the toughest shorts are ready to cover.

To: Vector1 who wrote (448)	3/15/1998 12:24:00 PM
From: Amy Feller	Read Replies (1) \| Respond to of 1754

>>Paine Webber issued another report on VISX on Fri afternoon. I am not sure if it was before or after the market close. In summary they affirmed their strong buy, raised their price target to $40 per share and provided a new estimate for the year at $1.65 per share. The report further stated that based upon the strength in jan and Feb the $1.65 could well be conservative. V1<< Can someone please explain a few things to a still-novice investor? PW issued a report within two weeks of its last report raising the price target and providing a new estimate (according to this poster). 1) What changed within two weeks for PW to do this other than the price of the stock rising 30%? 2) Why wasn't there a flurry of buying as happened the last time? Does anyone have this Friday report? Amy