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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (40081)	5/14/1999 2:21:00 AM
From: sherlockgerlach	Respond to of 120523

Jenna, if you are still up could you respond to my long post # 40080? Thanks.

To: Jenna who wrote (40081)	5/14/1999 3:22:00 AM
From: puborectalis	Respond to of 120523

I like this one..CMTN.....might just take off.... NEW YORK -(Dow Jones)- Shares of Copper Mountain Networks Inc., a maker of high-speed digital communications equipment, soared in their first day of Nasdaq trading Thursday, becoming the latest high-tech issue to make a spectacular debut. Copper Mountain shares closed at $68.438, more than triple their $21 offer price. The Palo Alto, Calif.-based concern raised $84 million through the sale of four million shares in the initial public offering. As has become the norm in a booming high-technology IPO market, strong institutional demand enabled Copper Mountain to increase the price range in the days preceding the sale to $16 to $18, from the originally anticipated range of $12 to $14. Copper Mountain makes parts used in digital subscriber line, or DSL, technology, which accelerates Internet-surfing speeds over standard copper telephone lines. Telecommunications IPOs, especially those related to DSL technology, have trailed only Internet deals this year in terms of gains. Indeed, three companies that are building DSL networks - Covad Communications Group Inc. (COVD), NorthPoint Communications Inc. (NPNT), and Rhythms Netconnections Inc. (RTHM) - recently completed highly successful IPOs. "Covad, Rhythms Netconnections and Northpoint have raised a lot of money in public markets, and now they're looking to spend it," said Brent Bracelin, an analyst with Pacific Crest Securities in Portland, Ore. Copper Mountain, and companies like it, are the logical beneficiaries of the newfound wealth of these DSL network concerns, Bracelin said. Another factor contributing to the success of DSL offerings is that some investors apparently prefer so-called Internet infrastructure stocks to the highly speculative offerings from companies that merely offer a Web site. But like its Internet IPO brethren, Copper Mountain expects to continue losing money for the foreseeable future, according to its prospectus. The company has accumulated losses of $24.6 million since it was founded in 1996. Copyright (c) 1999 Dow Jones & Company, Inc.