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

To: Jack Whitley who wrote (55481)	10/7/1998 10:31:00 PM
From: Glenn D. Rudolph	Respond to of 61433

ASND: EDWARD JONES changed recommendation from Hold to Strong Buy on 09/30/98

To: Jack Whitley who wrote (55481)	10/7/1998 10:39:00 PM
From: Clare	Respond to of 61433

I don't think Mory is wrong to hold out for $70. Heck, I'm holding out for $70 or never.

To: Jack Whitley who wrote (55481)	10/7/1998 11:03:00 PM
From: gbh	Read Replies (1) \| Respond to of 61433

Jack, lets get real here. Times have changed. $70 is 35 times earnings for fiscal year 2000. At this point, this would be massively dilutive to LU earnings. What's the point in announcing a deal at $70/share on a Monday morning (before open), only to have the market open and re-price the deal down to 50-55, which might only be mildly dilutive. Mory is not stupid. Just because he might have been able to get $70 in a very hot market with both LU and ASND flying high, doesn't mean he can still get it today. The market has re-priced ALL stocks. Forget about ASND at 55, DELL at 69, CSCO at 70, etc. Pretend these prices never happened, because we won't see them again for a long time. Stocks are in the process of being re-priced according to their true growth rates, maybe with some modest premium for the bluest of blue chips. DELL and MSFT will be the last to go, IMO. Gary