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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Larry L who wrote (1081)	10/27/1998 4:30:00 PM
From: Larry L	Read Replies (1) \| Respond to of 2693

To all: The conference call is at 10:30 EST Wednesday October 28, 1998. If the call is anywhere near as good as Merrill Lynch is speculating it will be we should see another spike tomorrow. High today was 44.

To: Larry L who wrote (1081)	10/27/1998 5:48:00 PM
From: bikepath	Respond to of 2693

I suspect there's a lot of short covering driving demand today, but let's hear what the experts have to say: Iridium Stk Up 14%; Possible Upbeat Report Wed. Cited Dow Jones Newswires By Shawn Young NEW YORK (Dow Jones)--Shares of Iridium World Communications Ltd. (IRIDF) jumped 14.6% Tuesday apparently in anticipation of the company's release of third-quarter financial information and a briefing on the company's progress. In a research note that reiterated a buy rating on the shares, Salomon Smith Barney analyst John B. Coates said he expects the wireless satellite communications company to announce that it will launch revenue-generating services Nov. 1. The service launch was originally scheduled for Sept. 23, but it was delayed to Nov. 1 because of technical difficulties. The company decided to do additional testing and tune-ups with a limited number of test customers. Coates said he met Monday with Iridium's chief executive, who informed him that the service launch is set to proceed. In addition, he said, the company has exceeded expectations in improving its call-completion and dropped call rates. Iridium, based in Washington, D.C., will offer wireless phone and paging service on a satellite network, making it appealing to travellers who visit places where phone systems are minimal or non-existent. Demand appears strong and the company's marketing efforts appear to be paying off, Coates said in his note. "With close to a one-year lead on the next competitors, Iridium has a lot of low-hanging fruit to pick," Coates said. He reiterated a price target of 60 for the end of 1999. The company, which at present is generating losses and minimal revenue, will hold a conference call Wednesday in conjunction with its progress report. Its shares rose 5 3/8 to close at 42 1/4 on Nasdaq volume of 1.3 million, compared to a daily average of 333,600.