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Strategies & Market Trends : the Women of SI

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To: Rainy_Day_Woman who wrote (941)	4/6/2000 9:05:00 AM
From: Rainy_Day_Woman	Read Replies (1) of 1691

NEW YORK, April 6 (Reuters) - Shares of Internet media network Yahoo! Inc. (NasdaqNM:YHOO - news) were lower in pre-opening trade on Thursday even though the company's first-quarter earnings beat Wall Street estimates by a penny. Recent negative sentiment toward Internet and technology stocks appeared to outweigh the news of Yahoo's profits of 10 cents a share in the first quarter. Investors have often been hard on Yahoo's stock after its earnings. Yahoo shares were at 158 on the Instinet electronic broker system, down from a Wednesday close at 165-9/16. Shares of casual clothing retailer Gap Inc. (NYSE:GPS - news) were also lower in the pre-open, at 44-3/4, down from a Wednesday close at 49-1/2. The retailer said its same-store sales fell 11 percent in March due to ``meaningfully lower markdowns.' Shares of Tellabs Inc. (NasdaqNM:TLAB - news) were also down in the pre-open, at 52 from a Wednesday close at 61. The telecommunications equipment firm said it expects first-quarter net earnings to fall below Wall Street estimates due to lower gross profit margins.

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