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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Tumbleweed who wrote (391)	3/16/1999 1:30:00 PM
From: Derrick Welch	Read Replies (1) \| Respond to of 15615

That's what I'm trying to make up my mind about? When to jump back in? I'm looking for around $45 - 47

To: Tumbleweed who wrote (391)	3/16/1999 2:04:00 PM
From: Teddy	Read Replies (1) \| Respond to of 15615

see bold: Dow Jones Newswires -- March 16, 1999 Cdn Impl Up On Potential Gain From Global Crossing Stake By Ben Dummett TORONTO (Dow Jones)--Canadian Imperial Bank of Commerce's (BCM) stock is sharply outperforming Toronto's banking sub-index, on the potential gains the bank stands to make from its merchant banking investment in Global Crossing Ltd. (GBLX). Canadian Imperial could record an after-tax capital gain of C$9.80 a share for each of its own fully diluted shares from selling its stake in Global Crossing Ltd. GBLX), calculated Roy Palmer of TD Securities. At last report, Canadian Imperial had about 412.6 million common shares outstanding. That means the bank could see total net capital gain from the sale of its Global Crossing stake of about C$4.04 billion. U.S.-based Global Crossing operates fiber-optic networks for Internet and telecom services. The potential gain for Canadian Imperial represents "an enormous increment in the bank's net worth" that could be used to buy back shares, boost the bank's reserves or finance growth, Palmer said. Canadian Imperial can't sell any of its Global Crossing stake until the fourth quarter, but then it's expected to reduce its holding over a period of time, the analyst said. In Toronto, Canadian Imperial is trading up 1.20 at 39.45, compared with a 0.37% gain in Toronto's banking sub-index.