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Strategies & Market Trends : Shorting stocks: The root thread

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To: Q. who wrote (23)	8/7/1997 11:19:00 PM
From: Stephen D. French	of 41

OzEmail Up 75% On News Of Sharp Rise In 2Q Net NEW YORK (Dow Jones)--OzEmail Ltd.'s American depositary shares (OZEMY) rose 75% Thursday after the company announced sharply higher earnings for the second quarter. OzEmail ADRs rose to as high as 12 5/8 before settling back at 12 1/8, up 5 1/8, on volume of 724,900 shares, compared with average daily volume of 17,400 shares. The shares are closing in on the 52-week high of 14 7/8 set Jan. 17. After the close Wednesday, OzEmail reported second-quarter revenue of $17.2 million, compared with $5.1 million a year ago. Net income was $6.5 million, compared with $613,000 last year. Earnings per share were 61 cents for the second quarter, compared with 7 cents in the year-ago period. OzEmail provides Internet services in Australia and New Zealand. -Jay Miller

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