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Technology Stocks : America On-Line: will it survive ...?

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To: Joel Sternberg who wrote (2422)3/14/1997 4:48:00 PM
From: Todd Daniels   of 13594
 
>I don't see how such annoucements have led to an upward revision in
>earnings and revenue growth

EPS estimates haven't.They uniformly have been reduced.
Ratings changes though are highly mixed.

1st Call Earnings Estimates Tends and Revision Momentum
Qtr Fisc Year Fisc Year
Mar 97 Jun 97 Jun 98
Downward Revisions Last 30 Days
02/07/97 7 10 2
03/08/97 10 13 3

------------

ZACKS 03/09/97 Wall Street Recommendations (Ratings)
Strong Buy Mod Buy Hold Mod Sell Strong Sell
Total 8+ 7- 5+ 1- 0
( + Upgrade since last week; - Downgrade )

The below indicate a pattern that has existed since 1993-4:
** Estimates of AOL earnings more than a month or two out
have been way off and subject to frequent and extensive
revision as they become nearer term.

est date Mean Estimates
Q2 97 Q3 97 FY 97 FY98
10/26/96 0.21 0.26 0.97 1.90
12/09/96 -0.36 -0.01 -0.12 0.80
01/18/97 -0.47 -0.01 -0.27 0.80
02/01/97 -0.54 0.01 -0.28 0.79
02/08/97 -0.60A* -0.06 -0.41 0.78
03/08/97 - -0.07 -0.43 0.80
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