Intelligent Electronics skids 34% as downgrade by Merrill comes in wake of resignation row

Article Abstract:

The stock price of Intelligent Electronics Inc experienced eight times the normal volume of trading and fell 34 percent following the resignation of chief financial officer Garland Asher, who left without signing the company's financial statements for the quarter ending Jan 1992. In what was termed a disagreement about accounting practices, Asher resigned, but this has been rumored to be because he disapproved of accounting procedures. Richard D. Sanford, CEO of Intelligent Electronics, counters that while Asher felt accounting practices were 'too aggressive,' there has been no problem with accounting procedures. Accounting practices may have to do with Intelligent Electronics' frequent business acquisitions, which show inventories as assets. Intelligent Electronics stock was downgraded by Merrill Lynch and Company Inc, affecting its market value, and sales for the current quarter are also below Intelligent Electronics' expectations.

Investment advice, Security brokers and dealers, Computers, peripherals & software, Patent owners and lessors, Evaluation, Finance, Stocks, Reports, Column, Accounting, Chief financial officers, Merrill Lynch & Company Inc., Acquisition, Resignation, Market Value, Intelligent Electronics Inc., INEL

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Heavy insider sales are made at Compaq

Article Abstract:

There was considerable insider selling at Compaq Computer Corp during the spring of 1993. According to the Securities and Exchange Commission (SEC), seven Compaq executives, including the company's Chmn Benjamin M. Rosen, sold about $26 million of shares. A total of 375,943 shares were sold, and the sales took place between May 4 and May 23. Rosen disposed of 100,000 shares at $54 a share on May 18. Compaq's executives sold their stock during Compaq's trading window for insiders, and a company spokesman says such dealings in options-related securities are not unusual. Compaq's stock closed up $2.125 on Jun 8, at $58.125 a share.

Electronic computers, Computer industry, Compaq Computer Corp., Investments, Securities, Stockholder, Rosen, Benjamin M.

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