Global TeleSystems Group (GTS) Message Board

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Technology Stocks : Global TeleSystems Group (GTS)

GTS 35.99

+1.0%

Jan 31 4:00 PM EST

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To: MangoBoy who wrote (49)	9/13/1999 5:18:00 PM
From: MangoBoy	Read Replies (2) of 73

[RESEARCH ALERT - Global Telesystems] NEW YORK, Sept 13 (Reuters) - Bear Stearns analyst James Henry said on Monday he lowered his third-quarter and 1999 revenue forecast on Global Telesystems Group Inc. after speaking with the company's management. -- said the company on Friday indicated it was comfortable with third-quarter revenue estimates of about $220 million, which was below Bear Stearns' previous estimate of $230 million. -- Bear Stearns cut the full-year estimate to $850 million, compared with the previous estimate of $875 million. Henry said the company indicated during a conference call on Monday that it was comfortable with full-year estimates of about $850 million to $860 million. -- Henry said the company's revenues were hurt by price competition in France and Germany, seasonal slowness during the summer, as well as some challenges in integrating some recent acquisitions. -- Bear Stearns reiterated its buy rating on the stock. Henry said he was surprised at the stock market's strong reaction to the new revenue outlook. -- shares of Global Telesystems, the most active Nasdaq issue, fell 5-7/16 to 21-1/4.

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