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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: zbyslaw owczarczyk who wrote (9454)	2/8/1999 9:20:00 AM
From: zbyslaw owczarczyk	Respond to of 18016

SBC enters alliance with Williams NEW YORK, Feb 8 (Reuters) - Local phone-service provider SBC Communications Inc. said Monday it entered into a long-term strategic alliance with the communications unit of Williams Cos. as part of its continuing effort to expand beyond its local area. As part of the deal, San Antonio-based SBC will take up to a 10 percent stake in Williams Communications when the unit has its initial public offering, currently scheduled for the second quarter. SBC will be limited to a $500 million investment. The deal gives SBC access to Williams' optic fiber-based backbone network, as well as allowing for integrated product development and marketing between the companies. Tulsa, Okla.-based Williams plans for its network to reach 125 cities in the United States.

To: zbyslaw owczarczyk who wrote (9454)	2/8/1999 12:07:00 PM
From: Doug	Read Replies (1) \| Respond to of 18016

Z.O: Technological changes are of concern to an Investor, only to the extent, it affects Revenue/share and Income/share. NN 's old technology had better margins and that is being replaced by a newer mousetrap with lower margins and competition that intensifies with time. Valuation is closely tied to total rev and Income growth/share. Currently for NN these are tightly bound and therefore NN may not command a high multiple that is accorded Companies with better growth rates.