three pre-purchase statements in light of subsequent events. Although plaintiff attempts to use these statements to bolster his complaint, none of them support an inference of fraud. Indeed, two of the three statements, set forth in the August 23, 1984 press release and the September 26, 1984 SEC Form 6-K, that Novo predicted *800 improvement in sales and earnings for the second half of 1984 over the first half, turned out to be true.
The third statement appeared in an August 24, 1984 press release and contained a projection that full-year sales for 1984 would increase by 20% over 1983. As discussed above, plaintiff could not have relied on this statement when making his stock purchase. The statement offers absolutely no evidence of fraudulent activity, but as with thereflecting and condensing light is used, a light emitting portion of a radiating lamp is positioned at a first focal point thereof, and a light receiving end of the optical fiber is positioned at a second focal point thereof in order to utilize light energy generated in the radiating lamp effectively.
In such a conventional light-beam heating apparatus, the light emitting portion of the radiating lamp is fixed after adjustment to the position of the first focal point by means of a lamp fitting mechanism when service is commenced. The light emitting portion moves due to thermal expansion of the radiating lamp generated thereafter by light radiation and consumption of an electrode of the radiating lamp. As a result, light energy condensed at the second focal point and incident