Valley Media (VMIX) IPO Message Board

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Non-Tech : Valley Media (VMIX) IPO

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To: Jerome Landesman who wrote (194)	6/18/1999 7:56:00 PM
From: Glenn Petersen	Read Replies (1) of 298

The market does not like surprises. The consensus estimate was for positive EPS of $.02 per share. Additionally, the stock was downgraded by Robertson Stephens: cbs.marketwatch.com Valley Media (VMIX: news, msgs) shares fell 6 13/16, or 32 percent, to 14 15/16 after the distributor of music and video entertainment products said it'll record a deficit of 8 cents to 10 cents a share in its fiscal first quarter ending June 30. The First Call analyst survey had called for a 2-cent profit. A year ago, Valley lost 25 cents from operations. BancBoston Robertson Stephens sliced the stock's rating to "long-term attractive" from "buy." I would expect some sort of rebound next week.

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