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PSIX on 12-12-00--- A+

Company Spotlight PSIX finally makes a big move and gets a BULLSEYE on 12-12-00...This has been one of the most poular stocks ever on Momentum Network and we are glad to see it up...Sprint rumors of take-over bid drove PSIX up over 80% at the high today...


Pre-Open alert 11-28-00 on unusual activity and large buys...Several rumors of PSIX buyout and PSIX has a strong cash position...PSIX also signing service contracts that indicate continued business planning...


Pre-open alert PSIX had buying volume in the pre-market on speculation of a possible takeover bid...

PSINet May Be Takeover Target After Warning, Business Week Says

Ashburn, Virginia, Sept. 20 (Bloomberg) -- PSINet Inc. may be a takeover target after the company's shares tumbled following its warning last week that its second-half revenue will be below estimates and that it needed more cash, Business Week said in its ``Inside Wall Street'' column online.

PSINet is undervalued at its current price, the magazine said, citing Sven Monberg, an analyst at Starr Securities Inc. PSINet, which provides Internet access to businesses, also offers Web-design and hosting, remote-user access and voice-over the Internet telephony services.

Monberg expects consolidation in the telecommunications industry to accelerate, after WorldCom Inc. paid $6 billion to acquire Intermedia Communications Inc., a provider of integrated communication-network services. More telecom carriers are likely to buy Web-hosting companies, the magazine said, citing Monberg.

PSINet won't likely remain independent for long if its valuation remains at its current low levels, the magazine said, citing Vik Grover, analyst at Kaufmann Brothers said. Shares of Ashburn, Virginia-based PSINet have fallen 67 percent this year to 10.06.

(BW 9/19)

Sep/20/2000 0:25 ET