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Strategies & Market Trends : Angels of Alchemy

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To: vagabond who wrote (17161)	10/13/2000 9:45:33 AM
From: vagabond	of 24256

Boy, strong language from Merrill on MYPT... ======================= Friday October 13, 9:22 am Eastern Time RESEARCH ALERT-Merrill downgrades Mypoints.com NEW YORK, Oct 13 (Reuters) - Merrill Lynch said on Friday it will cut its rating on online direct marketing services firm Mypoints.com Inc. (NasdaqNM:MYPT - news) to neutral from buy a day after the company predicted a wider-than-expected third quarter loss. -- said shortfall announcement was of ``shocking magnitude.'' -- Merrill Lynch said that while it indicated several weeks ago that the risk of the company had increased, it did not believe the risk would be on the magnitude of 40 percent on the top line and almost 75 percent on the bottom line of earnings. -- said the company showed ``delinquency'' in not properly determining the reasons for the shortfall, suggesting that new management controls need to be put into place. -- shares of Mypoints closed at a year-low of $4-7/8 on Thursday on the Nasdaq, far below a 52-week high of $97-11/16.

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