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Non-Tech : PEP -- Time to buy? -- Ignore unavailable to you. Want to Upgrade?

To: Kelly Sheppard who wrote (349)	8/28/1998 3:38:00 PM
From: Geoff	Respond to of 392

I think you're absolutely correct. Look at the reaction yesterday to CBS's announcement that it "plans to sell as much as 20% of its radio business to the public in an offering expected to raise $3 billion to $4 billion. Its shares surged 7.6% on the news even as the market plunged." A spin off would generate a nice lump sum of cash. My options are a little nearer-term. I expect this market correction to end soon, right after Labor Day, so I bought the Oct 40s for 3/16. Not a big gamble, especially considering how oversold the entire market it right now. PEP was just in the 40s, and I think that it can return there before Oct. best of luck, geoff