Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (13470)	6/21/2000 11:53:00 AM
From: StockDung	Read Replies (1) of 18998

To Frickin funny->RESEARCH ALERT - Steven Madden <SHOO.O> cut NEW YORK, June 21 (Reuters) - Chase H&Q said it cut its investment rating on shoe retailer Steve Madden Ltd. on Wednesday to market perform from strong buy, following the arrest and arraignment on Tuesday of chief executive Steve Madden on securities fraud charges. -- Analyst Harry Ikenson said his opinion was dependent on the length of the litigation process and the outcome. "Until there is more clarity to the situation, we are lowering our rating," he wrote. -- The company issued a statement on Tuesday saying, "The company's business remains strong and it plans to continue to execute its long-term strategies." -- Shares closed at 11-3/16 on Nasdaq on Tuesday. 09:06 06-21-00

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