View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 20, 1994


By CBR Staff Writer

Who’d be a diligent stock analyst, one that ferrets out the true fundamentals of a company, market or sector rather than simply looking to company officers for guidance? Those that are diligent reckon that on fundamentals, a price in the high fifties can’t possibly be justified for IBM Corp when about all that is doing well is personal computers that contribute nothing to the bottom line – but up in the high fifties is where the shares are trading, and derivatives trading is beginning to make the whole exercise pointless anyway: in London on Tuesday, the FT-SE Mid-250 Index of medium-sized companies jumped 135.5 points to 4,148.8 – not because the prospects for medium-sized companies suddenly looked much brighter – they emphatically didn’t – but, traders say, because UBS Securities had sold a large number of covered warrants on the Mid 250 index and needed to buy the underlying shares to cover its exposure; needless to say, market-makers saw a distressed buyer coming and moved prices against it.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.