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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 244.25

-2.0%

Nov 12 3:59 PM EST

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To: Glenn D. Rudolph who wrote (96715)	3/17/2000 2:06:00 PM
From: H James Morris	Read Replies (1) of 164684

> CHICAGO, March 17 (Reuters) - George K. Baum analyst Dean Ramos on Friday lowered his earnings per share estimates for online retailer Amazon.com Inc. <AMZN.O> to reflect interest expense on the company's Euro denominated notes. The analyst lowered his fiscal 1999 earnings per share estimate to a loss of $1.29 a share from a loss of $1.25 a share and lowered fiscal 2000 EPS to a loss of $0.85 from a loss of $0.81, according to a research note. Amazon.com recently completed an offering of E690 million Euro Denominated Convertible Subordinated Notes due 2010. Interest on the notes is 6-7/8 percent and the conversion price is E104.947, the firm said. "We believe that the proceeds from these notes will primarily be used to provide financial capacity for potential acquisitions," Ramos wrote. "Our revised estimates reflect a net additional expense of approximately $4 million per quarter, due to higher interest payable on the notes offset somewhat by interest income on unused portions of cash from the offering." Ramos maintains his neutral rating on Amazon.com. Shares of Amazon.com were off 9/16 at 65-11/16 in trade on Nasdaq. 13:12 03-17-00

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