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Technology Stocks : EarthWeb IPO

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To: Skywatcher who wrote (172)	2/4/2000 12:13:00 PM
From: Skywatcher	Read Replies (1) of 177

RESEARCH ALERT - EarthWeb 2000 revenue view raised NEW YORK, Feb 4 (Reuters) - Bear Stearns said Friday it increased its 2000 revenue estimate for EarthWeb Inc. (NasdaqNM:EWBX - news) to $60 million from $51.1 million. -- The earnings per share loss estimate for 2000 was increased to $2.06 from $1.34. -- EarthWeb intends to invest its extra revenues from the fourth quarter as well as proceeds from its recent convertible debt offering to grow the company's operations, which has led to the increased revenue and loss estimates for 2000, wrote analyst Scott Ehrens. -- He reiterated his attractive rating based on the multibillion-dollar information technology services market and the view that EarthWeb's shares are undervalued on a relative basis to comparable Internet content companies. -- On Thursday EarthWeb reported fourth quarter revenues of $11.5 million, ahead of Bear Stearn's estimate of $10.4 million. The loss per share, excluding amortization and one-time charges, was $0.57, beating its estimate of $0.59. -- Shares of EarthWeb up 2 at 36 on the Nadsaq stock market. chris

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