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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 247.47+1.3%10:48 AM EST
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To: Randy Ellingson who wrote (105203)6/22/2000 12:26:00 PM
From: H James Morris  Read Replies (1) of 164684
 
Randy,
>NEW YORK, June 22 (Reuters) - Goldman Sachs analyst Anthony Noto said Thursday it reiterated its U.S. recommended buy list rating on Webvan Group Inc. <WBVN.O>.

-- said it expects the online grocer to beat its revenue estimate of $24 million and meet its 17 cents a share loss forecast.

-- said expects several new alliances with major consumer product goods manufactures and wholesale distributors that lower product costs and provide promotional dollars.

-- said expects it to increase product depth and categories and average order size and orders per day.

-- said it will likely have to raise additional funding by mid-2001 to maintain its rollout schedule in D.C.

-- said it believes Webvan's model in providing a complete e-commerce service that positions it as a long-term "Internet franchise."

-- Goldman Sachs was the lead underwriter on Webvan's IPO, which priced at $15, in November.

-- separately, said firm does not see opportunity for broad upward revenue revisions for consumer e-commerce companies after the second quarter results.

-- said it believes there are several factors that are at play that do not provide a favorable environment for significant upward revisions broadly.

-- Goldman Sachs was the lead underwriter on Webvan's IPO, which priced at $15, in November.

11:46 06-22-00
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