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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Switz who wrote (3877)10/19/1998 2:27:00 PM
From: Starowl  Read Replies (1) | Respond to of 5944
 
Jim: I, too, question the timing of the buyback announcement: four days before earnings are announced. I wonder whether or not the announcement is intended in part to reassure investors management is confident of LONG-term prospects in advance of a poorer showing than expected on Thursday. Why not save the announcement for Thursday? Hate to be a cynic, but this announcement could be seen as a warning. And in that case, if I were management, I'd announce the buyback program ahead of an expected drop and then sop up shares at an even better price. As it is, the $200M COULD return nearly 15 percent of outstanding shares.

Anyone care to comment?

Starowl



To: Jim Switz who wrote (3877)10/19/1998 2:35:00 PM
From: J R KARY  Read Replies (1) | Respond to of 5944
 
PMFJI but the "secondary" sale by insiders was posted here

I gave the 9/21/98 EDGAR link and asked for comments - it went unresponded .

Now (earlier post) I ask for similar comment on the $200 mln buy-back versus the $430 mnl converts to be offered .

Is there a financial conflict ?

TIA,
Jim K.


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