Verity (VRTY) Message Board

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Technology Stocks : Verity (VRTY)

VRTY 2.400

0.0%

Dec 22 4:00 PM EST

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To: kendall harmon who wrote (914)	12/15/1999 11:09:00 AM
From: SteveJerseyShore	of 1011

From ZD Net;Verity (Nasdaq: VRTY) plummeted 46 percent Wednesday after it missed analyst consensus by 3 cents per share in the second quarter. Shares fell 22 5/16 to 26 11/16 as the stock was downgraded by Banc of America Securities from "buy" to "market perform." After market close Tuesday, the vendor of information gathering software reported fiscal second quarter net income of $1.5 million, or 9 cents per share. First Call's survey of five analysts predicted a profit of 12 cents per share for the quarter ended Nov. 30. The company blamed the revenue and earnings declines on delays in closing three large deals, two of which have been secured since the second quarter's end. "We believe our business fundamentals have not changed," said Gary J. Shona, chairman and CEO. "Our target markets are growing; and our pipeline of prospective new business is at an all time high. Our plans, goals and performance objectives for this fiscal year remain unchanged

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