Replies to post #69073 on Zeev's Turnips Patch-No Politics (ZEEV)

[Rick Faurot]

13:06 ET InVision under pressure due to L-3 comments - Lehman (INVN) 25.68 -0.92: -- Update -- Lehman says that INVN shares are under pressure today as a result of statements made at competitor LLL's year-end conference call in which LLL essentially said domestic demand for explosive detection systems for airports is close to being satisfied; in other words, INVN's easiest mkt in which to sell may be satisfied more rapidly than originally expected. Firm thinks INVN's mgmt is now under pressure on its Feb 13 conference call to provide investors with a new blueprint on how it will achieve its 2003 rev goals, and without a new plan the stock may remain under pressure.

[Chris McConnel]

Micron
Herb Greenberg
1/29/03 03:40 PM EST
Lots of chatter today about Micron's (MU:NYSE) proposed $500 million convertible note offering. Specifically, the eyebrow raiser is Micron's disclosure that it plans to use $80 million of the proceeds to enter into call spread options on its common stock "to limit exposure to potential dilution from conversion of the notes."

To make the deal work, I am told by traders who are connected, underwriter Goldman Sachs is buying Micron stock in the open market today. That's evidenced by the rise in Micron's stock. Normally a stock falls after a convertible offering is announced; Micron is rising on very high volume, aided by investors who must think that Micron wouldn't be buying calls if it didn't think its stock would rise. Talk about creating self-fulfilling prophecies.

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