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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS -- Ignore unavailable to you. Want to Upgrade?

To: MGV who wrote (2368)	8/23/1998 1:46:00 PM
From: Patrice Gigahurtz	Respond to of 4613

Darkgreen: Thanks for clearing up that LEAP question. At first glance they looked like the same year (yr2000) to me. How can one be sure that Friday's big trades were any kind of buyback type ? My math is not the greatest (it's bad) but if they got 1.2bill$$ via that last week announced sale/closing then at $28 5/16 they could in theory get back 42.383 million shares. Now it's just my 2-cents but I'd like that if they could do it without driving the price up in the process. I am curious by the dramatics of making a 1million share stock trade. Do they just call up a broker and say, 'buy me a million at market' ? Question: Regarding the $1.2 bill$$$ Do they have to pay tax on that ? In their last 10-Q, I saw it at EDGAR, they note some stock back and the specific amount up 'till a specific date. So I guess we'll know for sure in the next 10-Q ? I am curious why the market tanked CBS stock so much (% wise) when it's a domestic stock and so highly rec'd by many firms. I don't know the number of 'strong-buy' rec's but it's impressive. However, what impresses me is how the market in the face of such rec's by firms can tank the stock at a rate of % almost twice the DOW tank !!! Just doesn't add up to me why the announcement of shedding one of their last WX units didn't promote more enthusiasm for the stock ? WHY ?????????? What are we missing ? Are we in love-with-the-stock and thus missing something here ? I am not panicking (yet) but I am stunned by the 'streets' reception of that WX unit they just completed. What happens when/if they announce another remaining WX deal/close ? Is the stock going to drop some more ? What am I missing ? Thanks

To: MGV who wrote (2368)	8/23/1998 2:07:00 PM
From: Patrice Gigahurtz	Read Replies (1) \| Respond to of 4613

I am fascinated by their $3bill buy-back plan. Now remember my math is often suspect (wrong) but if in theory they could have gotten $1.5bill in that deal closing than they could have in theory gotten at $34 3/4 via buy-back 43.165 mill shares back instead of in theory (at $28 1/2) 42.383mill shares back; a difference of 1.6mil shares and about 45mill $ Soooooooo, if they in either case ($1.2bill vs $1.5bill) they could have gotten a significant amount of shares back, then the difference could be just $45mill (ish), right ? So if they spend the deal closing $$$ on buy-back it could in theory be a good thing no matter what the final closing deal $$$ was since they'd still could have in theory gotten a dramatic number of shares back....does this make any sense (?) or am I too close to this thing ??