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Gold/Mining/Energy : JDS Fitel -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (449)	12/2/1998 7:25:00 PM
From: Chris Stovin	Respond to of 815

Looks like there is room to move upward. Wednesday December 2, 6:58 pm Eastern Time JDS FITEL stock up on rival's IPO gains TORONTO, Dec 2 (Reuters) - Shares in fiber optic communications equipment maker JDS FITEL Inc. (Toronto:JDS.TO - news) rose in brisk trading on Wednesday after shares of U.S.-based rival E-Tek Dynamics Inc. (Nasdaq:ETEK - news) began trading with a bang on Nasdaq. JDS FITEL shares rose C$1.35, or more than 4 percent, to C$33.50 in turnover of more than 740,000 shares on Toronto's exchange. The price of shares of E-Tek, which makes fiber-optics components, soared to more than double their initial offering price of $12 during their first day of trading. ''E-Tek, an American comparable that's really very precisely comparable, went public today at $12 and is now trading (much higher),'' said Duncan Stewart, portfolio manager at Tera Capital. An analyst who declined to be identified agreed that E-Tek's gain was behind the increase in JDS FITEL's shares. Both companies deal in the heavily active fiber-optics and components territory, Stewart said. ''It's very hot area. Huge 50-80 percent growth over the last little while.'' But Stewart prefers JDS FITEL over its competitor, especially at Wednesday's inflated prices, which pushed E-Tek shares up to close to 50 times earnings, whereas JDS FITEL stock price is around 30 times earnings. ($1 = $1.53 Canadian)