(FOOL GLOBAL WIRE) LEXINGTON, Ky. (July 3): Telecommunications equipment maker Tellabs <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:TLAB)") else Response.Write("(NASDAQ:TLAB)") end if %> announced another agreement for its digital echo cancellers today. Ericsson Radio Systems AB will be using Tellabs' product in worldwide cellular, gateway and local switching applications. The terms of the three-year agreement weren't disclosed.
Computer Associates <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CA)") else Response.Write("(NYSE:CA)") end if %> moves aggressively into Canada with its announcement of an alliance with Merisel Canada to distribute CA mission-critical business software. Merisel, with 14,000 Canadian resellers, is Computer Associates' only Canadian distributor.
And in news concerning stocks on the current IFG top ten list, although not part of the current model portfolio yet, Mirage Resorts <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MIR)") else Response.Write("(NYSE:MIR)") end if %> received approval from New Jersey Governor Christine Whitman, to proceed with a controversial plan for a $330 million tunnel and roadway project to an Atlantic City site being developed by the company.
The plan requires Mirage to advance $125 million toward the costs, $70 million of which it will eventually get back. Mirage's planned resort for the 150-acre site in Atlantic City's marina district calls for a 2,000-room hotel/casino.
And finally, Hewlett-Packard <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:HWP)") else Response.Write("(NYSE:HWP)") end if %> was the victim of an analyst downgrade at Morgan Stanley. Steve Milunovich lowered his rating on HWP from "outperform" to "neutral" and cut his earnings estimates for fiscal 1996 from $5.70 to $5.45. His 1997 estimates have dropped from $6.70 to $6.50.
After the Independence Day holiday tomorrow, Friday's session closes out the current period for the Classic IFG model, as well as several of our experimental IFG models. I'll post all the updated holdings this weekend in the IFG Statistics Center. Have a Foolish Fourth!
Transmitted: 7/3/96 | ||||||||
INVESTING FOR GROWTH MODEL (7/3/96) | ||||||||
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