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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: bucky89 who wrote (51584)	8/4/1998 4:47:00 PM
From: djane	Read Replies (3) \| Respond to of 61433

thestreet.com. Networkers Struggle in Selloff [Check out the absurd quote by the Thiele doofus. Let's see. ASND has cutting edge tech, is well-positioned in carrier/ISP/WAN market, should show very nice earnings acceleration over the next 18 months, and LU covets it. 50% of investors in ASND only due to LU takeover speculation? Get real. Where do they find these guys?] By Kevin Petrie Staff Reporter 8/4/98 3:34 PM ET Networking stocks struggled to gain traction on a slippery Wall Street, but with only limited success. The group's major buoy was sinking slightly, despite the fact that investors are expecting it to report strong quarterly profits after the close. Cisco (CSCO:Nasdaq) traded off 1 15/16 at 95 3/16. Its weakness showcases the strength of the market's selloff. But 3Com (COMS:Nasdaq) is up 1/2 at 24 1/2 after falling initially. Ascend (ASND:Nasdaq) also defied the tide to rise 3/4 to 47 9/16 on renewed speculation about a takeover. The stock had fallen last week as investors fretted over rumors that it would acquire Stratus Computer (SRA:NYSE), a deal which was announced Monday. Investors worried that the acquisition would prevent Ascend from eventually being acquired by telecom supplier Lucent (LU:NYSE) -- the expectation of many Ascend longs. But Ascend cut that risk by confirming plans to divest the parts of Stratus it doesn't need. "I think people are saying, 'Oh they can still be bought by Lucent,'" said Mark Thiele, vice president with First Investment Advisors, an investment arm of First Union. "I think half the people that were in the stock were in it because it might get taken over." Of the group, his firm only owns shares in Cisco. Lower-tier names such as Cabletron (CS:NYSE) and Bay Networks (BAY:NYSE) fell 7/16 to 10 13/16 and 1 67/128 to 32 3/4, respectively. For more info on institutional holders of these stocks, as well as financial statements and earnings estimates, please see the Thomson Company Reports. See Also TOP STORIES ARCHIVE Cisco Company Quotes 3Com Company Quotes Ascend Company Quotes c 1998 TheStreet.com, All Rights Reserved. TOP \| ABOUT US \| CONTENTS \| SUBSCRIBE \| ADVERTISE \| TRADE ONLINE \| FEEDBACK \| SEARCH \| HELP