1994-07-11, English, Article, Other article edition: Is cellular technical services a whale of a deal, or isn't it? (questions about Whale Securities brokerage firm's promotion of Cellular Technical Services stock) (Heard on the Street) Dorfman, John R.

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Physical Description
  • graph
  • Newspaper article
Published
  • Dow Jones &​ Company, Inc., 1994 July 11
Language
  • English

Edition details

Title
  • Is cellular technical services a whale of a deal, or isn't it? (questions about Whale Securities brokerage firm's promotion of Cellular Technical Services stock) (Heard on the Street)
Also Titled
  • Is cellular technical services a whale of a deal, or isn't it?
Appears In
  • The Wall Street Journal Western Edition, 1994 July 11, pC1(W) pC1(E) (ISSN: 0193-2241)
Author
  • Dorfman, John R.
Published
  • Dow Jones &​ Company, Inc., 1994 July 11
Physical Description
  • graph
  • Newspaper article
Subjects
Target Audience
  • General
  • Trade
Summary
  • Whale Securities, a small NY brokerage firm, has been aggressively marketing Cellular Technical Services stock. However, some analysts say the value of Cellular's stock may follow a pattern similar to other Whale offerings, remaining high for a time before entering a rapid, permanent decline. Cellular has had flat sales of $5 million in both 1992 and 1993 for its specialized products which enable cellular phone companies to monitor customer accounts and identify fraudulent use. Cellular's market value at the close of Nasdaq on Jul 8, 1994 was 13.75, which is equal to $132 million, or more than 26 times its annual sales. Most stock is sold for less than one times sales. Whale analysts say Cellular may become profitable in 1994 because the company may win a major contract from McCaw Cellular Communications. However, estimates of the contract's value vary widely. A high-profile investor associated with financier Michael Milken has also sold 285,000 Cellular Technical shares between May 5 and Jun 9, 1994, which some experts say is cause for alarm.
Notes
  • graph
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 15565393

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