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

To: jcondie who wrote (455)	12/3/1998 7:32:00 AM
From: Aloysius Lo	Read Replies (1) \| Respond to of 815

Nice article in the Globe but I don't agree with their explanation... The Globe and Mail reports in its Thursday, Dec. 3, 1998 edition that JDS Fitel stock set a 52-week high yesterday for the second day in a row, fueled by the success of the initial public offering of one of its key rivals. The Globe's Simon Tuck writes that E-Tek Dynamics' wild ride on the Nasdaq Stock Market was credited with boosting shares of JDS by $1.20 or 3.7 per cent to $33.35 yesterday on the Toronto Stock Exchange. That followed a $2.10 or 7 per cent climb during Tuesday's trading session, bringing JDS shares forward $3.30 or 11 per cent during the past two trading days. California based E-Tek, which competes with JDS in a number of fibre optics markets, saw its share price soar to $26.75 (U.S.) yesterday from an opening price of $12. Levesque Beaubien & Geoffrion analyst Benoit Chotard says investors' interest in JDS shares went up when they saw the high value being placed on the stock of a competitor that many consider inferior.