Q ends on Up Note
...thanks to TCBY and Pentair
by Greg Markus (TMF Boring)
ANN ARBOR, Mich. (June 30, 1998) -- The Dow and S&P 500 retreated Tuesday, but the Nasdaq managed to post a modest gain of 4 points. The Boring Portfolio closed out the second fiscal quarter on a strong note, gaining more than 1% in value.
Large transactions in the final minutes of the final day of the quarter propelled shares of TCBY Enterprises (NYSE: TBY) and Pentair (NYSE: PNR) up sharply. TCBY rose $7/8, or more than 10%, to $9 3/16 on triple the stock's average trading volume. Pentair gained $2, or 5%, to $42 1/2 on double the volume it sees on a typical day.
I could locate no news on either issue.
Pentair will report its quarterly results on July 16, in the morning, with a conference call to follow. Analysts are looking for earnings of $0.55 per share, a figure that the company said earlier this month it was comfortable with.
Also slated to report quarterly results on the morning of July 16 is Andrew Corp. (Nasdaq: ANDW).
A couple of weeks ago, Andrew warned that results for its fiscal third quarter ending June 30 would fall short of analysts' expectations. Analysts have since scaled back their forecasts in line with the company's guidance, to EPS of $0.28 or $0.29 per share.
If you're interested in Andrew and if you happen to be in Philadelphia on July 8-10, you might want to wander over to the Convention Center to check out Andrew's latest antennas, cable, and other stuff at the Wireless Cable Association's 1998 trade show. A company rep will be ensconced in Booth #317.
And if you're there, I recommend stopping at Singapore restaurant, around the corner on Race Street. Singapore is one of the best Kosher Asian vegetarian restaurants I've ever found. In fact, it's one of the only Kosher Asian vegetarian restaurants I've ever found.
Last of all tonight, MCI Communications (Nasdaq: MCIC), the second-largest U.S. long-distance company, announced this morning that it has teamed up with Cisco Systems (Nasdaq: CSCO) to offer "networkMCI Enterprise Blue" to enable corporations to link their legacy mainframe operations to the Internet and use Web-enabled applications.
As you may recall, Cisco and Sprint (NYSE: FON) made a similar announcement last month. And AT&T (NYSE: T) already uses Cisco equipment and software to provide Internet and private network services for its customers.
Sounds like The Kid is all right, even without a partnership with Lucent (NYSE: LU) or Nortel (NYSE: NT).
The stock's all right, too. CSCO rose $1/4 to a bid of $92 1/16, further extending its string of record highs.
Stock Change Bid ANDW - 1/8 18.00 CGO + 3/4 33.81 BGP + 5/16 37.00 CSL - 3/8 43.06 CSCO + 1/4 92.06 FCH - 1/16 31.38 PNR +2 42.50 TBY + 7/8 9.19 |
Day Month Year History
BORING +1.10% 3.03% 4.28% 31.21%
S&P: -0.41% 3.94% 16.84% 82.40%
NASDAQ: +0.19% 6.51% 20.66% 82.02%
Rec'd # Security In At Now Change
2/28/96 400 Borders Gr 11.26 37.00 228.71%
6/26/96 150 Cisco Syst 35.93 92.06 156.20%
8/13/96 200 Carlisle C 26.32 43.06 63.58%
3/5/97 150 Atlas Air 23.06 33.81 46.64%
4/14/98 100 Pentair 43.74 42.50 -2.84%
5/20/98 400 TCBY Enter 10.05 9.19 -8.54%
11/6/97 200 FelCor Sui 37.59 31.38 -16.53%
1/21/98 200 Andrew Cor 26.09 18.00 -31.01%
Rec'd # Security In At Value Change
2/28/96 400 Borders Gr 4502.49 14800.00 $10297.51
6/26/96 150 Cisco Syst 5389.99 13809.38 $8419.39
8/13/96 200 Carlisle C 5264.99 8612.50 $3347.51
3/5/97 150 Atlas Air 3458.74 5071.88 $1613.14
4/14/98 100 Pentair 4374.25 4250.00 -$124.25
5/20/98 400 TCBY Enter 4018.00 3675.00 -$343.00
11/6/97 200 FelCor Sui 7518.00 6275.00 -$1243.00
1/21/98 200 Andrew Cor 5218.00 3600.00 -$1618.00
CASH $5511.82
TOTAL $65605.57
