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Technology Stocks : MindSpring Enterprises (MSPG) Another ISP.

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To: Brett Fleischman who wrote (348)7/23/1998 7:01:00 PM
From: Ultimate Investor  Read Replies (1) of 1434
 
RESEARCH ALERT - Mindspring rating cut
July 23, 1998 05:19 PM

CHICAGO, July 23 (Reuters) - Everen Securities Inc. said Thursday it lowered the rating of Mindspring Enterprises Inc. to market perform from outperform.

Mindspring's stock price has jumped 31 percent in the last three trading days in advance of second quarter earnings and a July 24 three-for-one stock split, Everen said in a research note. Based on subscriber and revenue numbers, Everen said it believes the recent run-up in the stock is unjustified.

Subscriber additions to the Internet access provider in the second quarter were sequentially down from the first quarter, it noted.

Shares of Mindspring rose 8-11/16 to 149
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