Conference nyoss1::market_investing

    Re  -.1
    
    Sybase came in public in August 1991 at 16. It wain high 20s last
    year. This summer it went upto 75 and then cooled off.
    
    Datamation had an article about "database prices to plummet" and so
    Deam Witter analyst who read that lowered the ratings and so is the
    free fall.
    Its trading at a p/e of 45-50.
    /raja

	Any idea when Sybase will announce their quarterly result? Also,
	what are the analysts' expectations?

	TIA.

	Re. .2 (my own question)

From: [email protected] (UPI)
Newsgroups: clari.biz.finance.earnings,clari.tw.computers
Subject: Sybase earnings up sharply
Copyright: 1993 by UPI, R
Date: Tue, 19 Oct 93 13:59:44 PDT

	EMERYVILLE, Calif. (UPI) -- Computer-network software specialist
Sybase Inc. reported Tuesday third-quarter earnings of $11 million, or
43 cents a share, nearly double earnings of $5.8 million, or 24 cents a
share, in the year-ago quarter.
	Third-quarter revenues increased 67 percent to $112.5 million from
$67.4 million reported in the third quarter of last year.
	Sybase reported the earnings after the stock market closed. They were
well above Wall Street estimates, which had averaged 39 cents a share.
	Sybase also said its board has approved a 2-for-1 stock split in the
form of a stock dividend to increase the market liquidity and to broaden
the distribution of the common stock. Stockholders of record will
receive one additional share for every share held as of Nov. 1, with the
additional shares distributed on Nov. 19.
	``Our excellent third quarter results reflect the increasingly broad
customer acceptance of our strong enterprise client/server products and
services as well as the overall health of the enterprise client/server
market,'' said Mark B. Hoffman, chairman, chief executive officer and
president.
	License revenues for the quarter increased 65 percent over the third
quarter of 1992 to $80.5 million, and services revenues rose 74 percent
to $32 million. North American revenues grew 51 percent to $80.2 million
and foreign sales were up 125 percent to $32.3 million.
	Operating income increased 88 percent to $17.5 million and operating
margins improved to 16 percent from 14 percent in the comparable 1992
period.
	Sybase also said it had added three outside directors to its board:
Richard C. Alberding, who is retired after 30 years at Hewlett-Packard
Co., where he had been executive vice president, measurement and
computation products; Alan B. Salisbury, currently president and general
manager of Learning Group International USA Inc.; and technology
consultant Jeffrey T. Webber.
	It also noted that it has been selected as the exclusive database and
tools software supplier to the World Cup USA 1994 soccer championship.
	For the first nine months of this year, earnings were $26.3 million,
or $1.03 a share, compared with $13 million, or 53 cents a share, in the
year-ago period. Revenues were up 59 percent to $288.9 million from
$181.4 million in the year-ago period.

	Question.

	.3 says 2 for 1 stock split *in form of stock dividend*. Is that 
	a different kind of a split? Will the market price still halve?

	I am holding some Dec. 60 calls. Is it a good idea to excercise some
	of them to get the benefit of the split? If so, can I excercise them
	anytime before Nov. 1?

	I'm very bullish on this company for the long term. 

    This is a normal 2:1 split, which should have the share price and
    double the number of shares.
    
    Outstanding options will be adjusted when the split is effective. 
    Since this is a clean 2:1 I believe that each DEC 60 call will be
    automatically converted into 2 DEC 30 call contracts.

    
    Both CNBC (and Dangerous Dan Dorfmann) and the Nightly Business Report
    last evening (6/23/95) reported the $6.00 jump in Sybase stock to be
    attributed to *new* takeover rumours.
    
    The best part was the companies named in the hunt. Digital (or DEC) was
    listed a number one followed by IBM, Microsoft, and Oracle.
    
    If we buy Sybase, I'll be a monkey's true uncle; especially after
    selling rdb to Oracle, and telling our VMS-base that we are O/S
    neutral. Then again, I've witnessed dumber things....
    
    		the Greyhawk

    
Subject: Sybase
Author:  Marc Buonomo at DLJ-TFI-Systems
Date:    6/23/95 3:50 PM


     For your info:
     
     Sybase Buyout Speculation-2-: 'Massive' Options Activity Seen
     
       NEW YORK -DJ- Sybase Inc. (SYBS) shares jumped 14% on heavy volume 
     after CNBC
     financial correspondent Dan Dorfman repeated rumors that the company 
     was close
     to being bought out. 
     
       Recently, Sybase shares were up 3 3/4, or 14%, at 30 5/8 on Nasdaq 
     volume of
     8.2 million, compared with average daily volume of 3.4 million. 
     
       Dorfman said there is massive options activity in Sybase. He said 
     Morgan
     Stanley & Co. and Wertheim Schroder & Co. are the major buyers. 
     
       Dorfman said people have told him that the options activity is of a 
     similar
     magnitude to the activity prior to the announcement that International 
     Business
     Machines Corp. (IBM) was bidding for Lotus Development Corp. (LOTS). 
     
       Dorfman said possible Sybase suitors include IBM, Digital Equipment 
     Corp.
     (DEC), Oracle Corp. (ORCL), Microsoft Corp. (MSFT) and Sun 
     Microsystems Inc.
     (SUNW). 
     
       Dorfman said there is talk that Microsoft will top any bid for 
     Sybase because
     ''it wants to own Sybase.'' 
     
       The estimated buyout offer for the Emeryville, Calif., database 
     company is
     $45-$50 a share, or $3 billion to $3.5 billion, Dorfman said. 
     
       Officials at IBM and Digital Equipment declined to comment and 
     Oracle,
     Microsoft and Sun Microsystems officials weren't immediately avalable, 
     Dorfman
     said. 
     
       (MORE) DOW JONES NEWS 06-23-95
     
        3:00 PM