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Technology Stocks : Comverse Technology -- Ignore unavailable to you. Want to Upgrade?

To: Mark Ambrose who wrote (452)	6/5/1998 2:56:00 PM
From: Mark Ambrose	Read Replies (1) \| Respond to of 1331

Comverse again got a brief note under Heroes by The Motley Fool on yesterday's Evening News. fool.yahoo.com ---------------------------------------------------------------------- The Evening News Jun 04, 1998 HEROES Digital switching, transmission, access, and network management systems maker DSC Communications (Nasdaq:DIGI - news) shot up $7 13/16, or 39.68%, to $27 1/2 after announcing it has agreed to be acquired by French conglomerate and telecom equipment maker Alcatel Alsthom (NYSE:ALA - news) in a stock-for-stock transaction valued at $4.4 billion based on yesterday's close. DSC shareholders will receive 0.815 of an Alcatel American Depositary Share for each DSC share. This represents a significant 80% premium to DSC's closing price yesterday. Alcatel, which dropped $4 3/8 to $39 1/16 today, anticipates the merger will be neutral to 1999 earnings and accretive thereafter before taking into account any revenue enhancement. The acquisition is the second of a telecommunications devices maker in as many days. Yesterday Tellabs (Nasdaq:TLAB - news) said it will acquire fiber-optic equipment maker Ciena Corp. (Nasdaq:CIEN - news) . The DSC and Ciena acquisitions have led many investors to believe that more consolidation is on the way in the communications equipment industry, which helped drive up the shares of potential acquisition targets. Local loop equipment manufacturer Advanced Fibre Communications (Nasdaq:AFCI - news) jumped $3 5/8 to $40 1/8, ADC Telecommunications (Nasdaq:ADCT - news) gained $1 7/8 to $29 15/16, and Telco Systems (Nasdaq:TELC - news) charged ahead $1 21/32 to $11 7/32. Ascend Communications (Nasdaq:ASND - news) ascended $3 1/16 to $45, Comverse Technology (Nasdaq:CMVT - news) rose $1 5/8 to $51 1/2, Reltec Corp. (NYSE:RLT - news) powered up $5 1/4 to $41 1/8, and Uniphase Corp. (Nasdaq:UNPH - news) gained $1 3/8 to $55 3/8. < snip >