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Technology Stocks : Comverse Technology -- Ignore unavailable to you. Want to Upgrade?

To: Eve Edelson who wrote (564)	10/28/1998 10:57:00 AM
From: Beltropolis Boy	Respond to of 1331

04:22 AM ET 10/27/98 Nice Systems up sharply in early trading TEL AVIV, Oct 27 (Reuters) - Israel Nice Systems Ltd was up nearly eight percent in early trading Tuesday on the Tel Aviv Stock Exchange amid persistent rumours that the company was targetted [sic] for takeover by Comverse Technology Inc. At 0900 GMT, Nice was trading at 86.70 shekels ($20.70), leaving it at a discount to the $21.25 Monday close of its Nasdaq-traded American depositary receipts (ADRS). "The stock is moving like someone thinks it's going to get taken out," said Elan Zivotofsky, Israel analyst at Goldman Sachs. Nice has risen 67 percent from its October 13 low in heavy trading. Both Nice and Comverse have denied the rumours, although analysts said they would be a good fit. Nice makes computerised voice logging equipment and Comverse, which is based in the United States, makes telephone messaging and logging gear. One analyst said Comverse was expected to announce it was splitting its businesses into two companies. Nice's share price collapsed at the end of September after the company issued a third-quarter earnings warning. Zivotofsky said that at least the first leg of the stock's recent recovery to $15-16 was probably a recognition that the stock was oversold. ($1 = 4.19 shekels) Jerusalem newsroom, +972 2 537-0502, jerusalem.newsroom@reutes.com