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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Fang Li who wrote (21917)	5/20/1999 5:47:00 PM
From: trendmastr	Read Replies (1) \| Respond to of 29386

SANs Have Far To Go To Reach Potential internetwk.com tm

To: Fang Li who wrote (21917)	5/20/1999 7:09:00 PM
From: Kerry Lee	Respond to of 29386

Another post from AOL Shark Forum...I suspect some ANCR shorts also got squeezed today <g>: Subject: EMLX Date: 05/20/1999 2:29 PM Pacific Daylight Time From: Jeifri19 Message-id: <19990520172933.23704.00002903@ng-ci1.aol.com> Ok, someone educate me here. Got stopped out of EMLX short at $70 for a $3.00 loss. EMLX came out with this news today. (Sour grapes post follows!)>>>>>>>>>>> Emulex Corporation Announces Commencement of Public Stock Offering COSTA MESA, Calif.--(BUSINESS WIRE)--May 20, 1999--Emulex Corporation (NASDAQ: EMLX) today announced the commencement of a public offering of 2,100,000 shares of Common Stock at a price of $61.00 per share. Of the 2,100,000 shares being offered, 2,000,000 shares are being offered by the Company and 100,000 shares are being offered by a selling shareholder. << and this happened.................. EMLX - EMULEX CORP Last Price: 75 1/2 at 15:59 EDT Change: Up 12 1/4 (+19.37%) High: 81 3/4 at 15:31 EDT Low: 65 11/16 at 9:29 EDT Open: 65 11/16 Previous Close: 63 1/4 on 5/19 Volume: 2,055,300 30-Day Avg. Volume: 134,000 Shares Outstanding: 6,159,000 Market Cap.: 465,004,500 52-Week High: 73 52-Week Low: 5.31 Beta: 0.78 P/E Ratio: 209.72 EPS: 0.36 Do we see ".com" after their name? Nooooo! Wouldn't the issue of new shares dilute earnings? Now I know my "bandwidth" is lacking when it comes to technicals and the trend was not my friend on a short ASK Research / Technical Charts: EMLX and its not a big grower.... >>>>> Emulex designs and supplies high-performance network connectivity products including fibre channel, printer servers and network access products to improve communication in computer networks and enhance data flow between computers and peripherals. For the 39 weeks ended 3/28/99, revenues rose 6% to $48 million. Net income totalled $2.2 million vs. a loss of $11 million. Results reflect increased market acceptance of products and reduced staffing.<<<<<<<<<<< Estimated 20% growth rate and a projected (June 99) PE of 117.(and you see the trailing) Summary of Brokerage EPS Estimates and Recommendations Any comments as to why this sucker flew today? Short covering? (450K shares short) Would the stock issue move it like this? Thanks for your imput and a shoulder to whine on! Joe