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Technology Stocks : BACKDOOR, an IPO> IDTC,BRKT,BNYN,KLOC,NAVR -- Ignore unavailable to you. Want to Upgrade?

To: songw who wrote (185)	1/29/1999 1:12:00 PM
From: .com	Read Replies (2) \| Respond to of 954

songw, This CGTVY thing is strange. This article indicates that TMX is the primary owner of prodigy. Maybe TMX owns CGTVY? Friday January 29, 12:28 pm Eastern Time ADR REPORT - Telmex active on Prodigy IPO By Jennifer Shaw NEW YORK, Jan 29 (Reuters) - Attention in the American Depositary Receipts (ADR) market turned to Mexico on Friday as Wall Street looked south of the border for opportunities in the red-hot Internet sector. Telefonos de Mexico (NYSE:TMX - news), the principal stockholder in Prodigy Communications Corp., rose as the Internet company detailed its initial public offering, saying it would sell $8 million shares at $12-to-$15 each. The offering is expected in early February. The company's ADRs were ahead 5/16 at 52-1/8. ''The focus is on Mexico the attention is all being garnered by Telmex because of the Prodigy Internet business,'' said one trader who did not want his name used. Trading in Brazilian ADRs was quiet despite a 6.3 percent rise in Brazil's benchmark Bovespa (BVSP - news) index. Traders said ADRs showed little reaction to remarks by U.S. Treasury Secretary Robert Rubin, who said Friday that Brazil has already done much toward resolving is problems, but that more effort is needed. Speaking at the World Economic Forum's annual meeting in Switzerland Rubin said Brazil has ''done a great deal.'' But the Treasury Secretary added that Latin America's biggest economy needs to, ''determine what set of policy measures they'll need in order to both deal with their underlying problems and regain the confidence of the global financial markets.'' Rubin also said U.S. President Bill Clinton had spoken to his Brazilian counterpart Fernando Henrique Cardoso on Thursday, but he declined to give any details. ADRs in the benchmark Telebras (NYSE:TBH - news) stock rose 1-15/16 to 63-1/4. Unibanco (NYSE:UBB - news) fell 3/8 to 10-7/16. Trade in Chile and Argentina was quiet as well. Among European ADRs Ixos Software, a German supplier of Internet software, rose 8-1/4 to 58-7/8. Traders said the stock was trading on no news and thin volume and was prone to such spikes because of its thin volume. ADRs in LucasVarity (NYSE:LVA - news), the British auto parts maker, fell back in profit-taking after running sharply higher on a merger agreement with TRW Corp. and word that Federal Mogul Corp. could revise its offer for the company.