Colin Stewart Mitel Networks MITL-Q COMMENT Apr 22, 2014

Merging with Aastra Technologies (AAH-T). This combination will be accretive. This is an astute management. Thinks it will work longer-term but because it is a small company in the space they work in, it is going to be rocky.

Chart shows this is in an upward trend, which is positive. Below its 20 day moving average. Its strength relative to the market is probably pretty neutral. Seasonally, this normally does very well from October through until January of each year. A little premature to be adding at this time.

Still in a kind of a PBX, more sophisticated business. They are now world leaders, and they have merged Astrol into themselves, a similar kind and very compatible company.

(A Top Pick August 6/14. Down 15.42%.) It doesn’t stand out emphatically against all other millions of companies in the communications area. Not a bad company at all.

(A Top Pick Aug 6/14. Down 32.85%.) Thinks the company is solid. It has made acquisitions. An energized and highly motivated company.

This has tested your patience if you are a longer-term investor. From a street valuation perspective, this is in a business that is going to continue to grow. Have made some interesting acquisitions. This falls in the middle of his fundamental and technical rankings.

This has reconstituted itself and its legacy business is still there. It doesn’t seem to grab the investor too strongly. Well-managed and should continue to do well. There is no special factor that would cause him to suggest that it was a buy.

There are other places he would rather be (e.g. Technology).