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News September 4, 09:53 Eastern Time
Robertson Stephens Lowers Estimates on NITE
SAN FRANCISCO, Oct 4, 1999 (BUSINESS WIRE) -- Robertson Stephens
Senior eFinance Analyst Scott Appleby today lowered his estimates on
Knight/Trimark (NASDAQ: NITE).
Knight/Trimark is a leading-market-maker in NASDAQ securities,
over-the-counter equity securities and equity securities listed on the
New York Stock Exchange, American Stock Exchange and in the Third
Market.
"We are again lowering our earnings-per-share estimates in
Knight/Trimark," said Appleby. "In our view, the low trading volumes
and volatility seen this quarter have influenced the company worse than
anticipated."
"We have lowered our third-quarter 1999, fourth-quarter 1999 and fiscal
2000 earnings-per-share estimates from $0.31 to $0.23, from $0.38 to
$0.29, and from $1.80 to $1.58, respectively," said Appleby.
"In addition, we have lowered both our third-quarter 1999 and
fourth-quarter 1999 total-trading-volume estimates from 18.1 billion
shares traded to 17.0 billion shares traded and from 21.7 billion to
18.4 billion, respectively," said Appleby.
Clients interested in receiving more information should contact their
salesperson at (415) 781-9700.
BancBoston Robertson Stephens Inc. ("Robertson Stephens") is the
leading full-service investment bank focused exclusively on growth
companies. To date in 1999, the firm has completed over 130 offerings,
raising more than $24 billion in capital for clients. The firm's 47
research analysts cover nearly 700 companies. Founded in 1978,
Robertson Stephens is the section 20 subsidiary of Fleet Boston
Corporation (NYSE: FLT) and is a member of the NASD and all major
exchanges.
Together, Robertson Stephens, BancBoston Robertson Stephens
International Ltd., and Robertson Stephens Evergreen Securities Ltd.
employ over 1,000 employees worldwide with offices in Boston, San
Francisco, New York, Menlo Park, Chicago, London, and Tel Aviv. For
more information about the firm, please visit our Web site at
www.rsco.com.
The foregoing synopses are qualified in their entirety by the more
detailed information contained in the full research reports, including
the discussion of certain risks associated with an investment in the
above-mentioned securities contained in "Investment Risks."
The information contained herein is not a complete analysis of every
material fact respecting any company, industry or security. Although
opinions and estimates expressed herein reflect the current judgment of
BancBoston Robertson Stephens Inc., the information upon which such
opinions and estimates are based is not necessarily updated on a
regular basis; when it is, the date of the change in estimate will be
noted.
In addition, opinions and estimates are subject to change without
notice. This Report contains forward-looking statements, which involve
risks and uncertainties. Actual results may differ significantly from
the results described in the forward-looking statements. Factors that
might cause such a difference include, but are not limited to, those
discussed in "Investment Risks."
BancBoston Robertson Stephens Inc. from time to time performs corporate
finance or other services for some companies described herein and may
occasionally possess material, nonpublic information regarding such
companies. This information is not used in the preparation of the
opinions and estimates herein. While the information contained in this
Report and the opinions contained herein are based on sources believed
to be reliable, BancBoston Robertson Stephens Inc. has not
independently verified the facts, assumptions and estimates contained
in this Report.
Accordingly, no representation or warranty, expressed or implied, is
made as to, and no reliance should be placed on, the fairness,
accuracy, completeness or correctness of the information and opinions
contained in this Report. BancBoston Robertson Stephens Inc., its
managing directors, its affiliates, and/or its employees may have an
interest in the securities of the issue(s) described and may make
purchases or sales while this report is in circulation.
BancBoston Robertson Stephens International Ltd. is regulated by the
Securities and Futures Authority in the United Kingdom. This
publication is not meant for private customers. The securities
discussed herein are not FDIC insured, are not deposits or other
obligations or guarantees of Fleet Bank or BankBoston N.A., and are
subject to investment risk, including possible loss of any principal
amount invested.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
CONTACT: BancBoston Robertson Stephens
Press Only:
Erin Freeman, 415/248-4757
Elizabeth Keys, 202/326-1763
TICKERS: NYSE:FLT NASDAQ:NITE
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA NEW YORK MASSACHUSETTS ILLINOIS
INDUSTRY CODE: BANKING
COMPUTERS/ELECTRONICS
COMED
TELECOMMUNICATIONS
RETAIL
FOOD/BEVERAGES
APPAREL/TEXTILES
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