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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Craig M. Newmark who wrote (71482)	1/15/1999 8:38:00 AM
From: vinod Khurana	Respond to of 186894

ATI climbs after posting record quarter TORONTO, Jan 14 (Reuters) - Graphics chip leader ATI Technologies Inc. (Nasdaq:ATYTF - news) unveiled a record first quarter on Thursday to the applause of investors, who sent the Toronto-based company's stock up to a 52-week high. ATI, the world's leading supplier of graphics chips for computers and games, earned $50.1 million or $0.23 a share for the three-month period ended November 30. Profit nearly doubled from a year ago, when it stood at $0.12 a share or $24.5 million. Sales, the strongest ever recorded by the firm, soared to $327.4 million from a year-earlier $167.8 million. The company reported in U.S. dollars for its first time. ATI headed the list of actively traded issues in Toronto, rising C$0.75 to C$19.25 on volume of more than 6 million shares, after earlier hitting a 52-week high of C$20.20. It returned to market favor after hitting the doldrums late last year. On Nasdaq, shares rose $0.38 to $12.63. ''We had a tremendous first quarter,'' said K.Y. Ho, ATI's president, chief executive and co-founder. "We have a very strong product line, and overall the market demand is very strong. We also have the capability to handle the high volume shipments, so we increased our market share (and) we increased our penetration. Company management noted that based on historical data, the biggest graphics vendor in the industry will garner about 55 percent of the market. ATI, with its breadth of products, hopes to raise penetration by another 10 percent or more, it added. Also, ATI has increased their growth forecast for fiscal 1999 to about 50 percent from 40 percent. Praise came from another quarter this week as Ho was named as one of the world's top 25 executives of 1998 by magazine BusinessWeek. Analyst Brian Antonen at Research Capital approved of ATI's results. He said he planned to increase his target stock price to C$28 and raise his earnings estimate for fiscal 1999 to about C$1.05-C$1.10 from C$0.90. ''They had a great quarter and it's driven really by three things: number one, market share gains, number two, this whole suite of new products, (and) number three, huge step-up in demand for PCs (personal computers),'' Antonen said. The analyst added: ''I don't think this company gets any respect. It's such a low multiple stock, and it's one of the ... leading technology companies in the country.'' The company is trading at less than 20 times earnings but has managed to wipe the floor with its rivals thus far, Antonen said. ''They've got huge momentum right now and huge economies of scale (and) such a large product line, that the smaller players are going to have a really hard time competing going forward.'' ($1=$1.53 Canadian)

To: Craig M. Newmark who wrote (71482)	1/15/1999 9:01:00 AM
From: nihil	Read Replies (1) \| Respond to of 186894

Failing Firm Defense The reason that FTC or DOJ cannot effectively resist even a concentration-enhancing merger in a failing firm scenario is that the court would violate the fifth amendment, i.e. deprive the owners of the failing firm of their property without compensation or due process. The 5th is self-enforcing, and any stockholder can bring an action to restrain the government from preventing the merger. The case law is clear enough IMO to protect a Intel/AMD merger, as unsavory as it sounds, in the likely event that no one else has a few billion dollars to throw down a rathole to gain the privilege of getting their head handed to them by Intel. Want to write an article together on this? Or did we just. A few citations and the thing is done.