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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Instock who wrote (14874)	4/5/1999 1:31:00 PM
From: Sergio H	Respond to of 29382

It's not where you to lunch...it's who you go with. COV....you mean COVR ? Cary let me on to that one. Looks like a nice bounce from the sell-off on earnings dissapointment. Buying is coming in on rumors of a takeover at $5-6/share. AS

To: Instock who wrote (14874)	4/5/1999 2:48:00 PM
From: Sergio H	Respond to of 29382

Instock...you called it, uh huh !!!! <onday April 5, 1:46 pm Eastern Time Sugen shares off after 60 Minutes show disappoints CHICAGO, April 5 (Reuters) - Shares of pharmaceutical company Sugen Inc. (Nasdaq:SUGN - news) fell on Monday after a Sunday broadcast of the television news program 60 Minutes showed results of a phase one trial of its cancer drug that were encouraging but not as positive as some had expected. Shares of Sugen were trading off $5.06 to $17.375 on turnover of more than one million shares. Investors were ''selling on the news (60 Minutes),'' said analyst Balaji Kavety, at investment bank Fector, Detwiler. "The Street has been expecting this news for a week and bidding up the price. ''Obviously, the news was not as good as expected but as an analyst, the results were pretty positive,'' Kavety said. Sugen's SU 5416 cancer drug is one of a group of so-called angiogenesis inhibitors which have been shown to stop the growth of blood vessels to some tumors. ''The science is great. The drug has reasonably good efficacy in phase one'' trials, Kavety said, adding that Sugen is well ahead of its competitors in testing this technology. ''There was a lot of selling off. I don't think it's a negative reflection of the story. I think the results were pretty encouraging,'' said analyst David Batter at independent research firm Mehta Partners. Sugen chief financial officer Jim Knighton declined comment on Monday's stock action but noted the stock may have risen last week in anticipation of the 60 Minutes show. Knighton said he believes the the show was well balanced and demonstrated realistically the effect of the drug in treating the terminally ill patients in the study. ''We are quite encouraged by the data we saw in phase one,'' he said in a telephone interview from the company's Redwood City, California headquarters>