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Technology Stocks : JPM Co. (JPMX, formerly JPMC)
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To: Steven Cindrell who wrote (153)2/14/1998 7:29:00 PM
From: Roadkill  Read Replies (1) of 157
 
<<This is a good little company that longterm will regain its position in less than year.>>

I would like to think so. That the company missed its numbers (badly) doesn't really bother me. That management didn't see fit to pre-warn the shareholders, after pronouncing things "back on track" in the 3Q conference call, is inexcusable. Check the mid-November news release regarding 3Q '97 results (released halfway through the 4Q). Even if the shortfall was a result of a late-quarter phenomenon (as management has hinted), the shareholders should still have been pre-warned as soon as the problem became clear. To just drop a bomb with the earnings release is unacceptable, and will hurt the company's credibility on the Street. This will detrimentally impact the multiple that the Street assigns to the company, holding down the stock's performance. This doesn't mean that I don't think the company can come back. I do believe, however, that it will take at least year or two.
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