Glenn, I feel very comfortable with this.
>Of course, not all equity analysts are down on Amazon's shares. Mary Meeker, the Internet analyst at Morgan Stanley Dean Witter remains bullish. Her 12-page report on Amazon's second-quarter results included such calculus as "Notable Quotables From Jeff," three paragraphs of bon mots from Mr. Bezos. Example: "We have a great team. We have a common set of objectives. We have a plan to reach those objectives." Research? Stenography might be a better word.
Morgan Stanley may feel that bullish is the only way to be on Amazon, because it is the company's investment banker and likely holds a barrel of the company's convertible bonds, which are trading in the cellar. The firm is the major market maker in the debt.
Ms. Meeker did not return a phone call seeking comment.
Btw
Did you know Corvis is a Kleiner child but they usually pass it of to Morgan Stanley!
>PALO ALTO, Calif., July 28 /PRNewswire/ -- Credit Suisse First Boston announced today that it acted as lead manager of the initial public offering of Corvis Corporation (Nasdaq: CORV). The offering of 31,600,000 shares of common stock, increased from the 27,500,000 shares originally filed, was priced at $36/share. The filing range was $28-$30/share, revised from the original filing range of $13 - $15/share. When the market closed today, the stock was trading at $84 23/32. The shares are listed on the NASDAQ Stock Market's National Market under the ticker CORV. |
