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To: Paul Dubsky who wrote (15271)7/14/1998 8:28:00 AM
From: Larry S.  Read Replies (1) | Respond to of 53068
 
Chat CD (Cendant) biz.yahoo.com -
it now appears that the cooking of the books at CUC (merged with HFS to form CD) was greater than originally reported. If one takes the time to read the whole yahoo news release pasted above, the overall effect on CD will not be that great. CD is expected to open several points lower today (according to CNBC) on top of yesterdays 3 point drop. i bot some shares at 19 5/8 a while back, and am not surprised by these latest revelations. I still think CD is a fundamentally sound company that good snookered. I would not rush in to buy CD today, but think there is an opportunity for investment in a quality company at a low price shortly. Also, keep an eye on the preferred I, which is mandatorily converted to stock in a few years and is currently yielding about 10%. Larrry



To: Paul Dubsky who wrote (15271)7/14/1998 10:23:00 AM
From: DanZ  Respond to of 53068
 
LTCW.

Paul,

There are two things about the decline in volume. One, the selling pressure has dried up. Two, it is just getting back to it's normal average daily volume. The huge volume was probably caused at least in part by day traders trying to scalp small ticks off the stock and significant long liquidation.


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