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Technology Stocks : ACCLAIM Entertainment

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To: Piero who started this subject	7/7/2004 12:14:11 PM
From: Ms. Baby Boomer	of 4149

Acclaim falls as analyst warns of bankruptcy risk Tuesday July 6, 1:16 pm ET LOS ANGELES, July 6 (Reuters) - Shares in video game publisher Acclaim Entertainment Inc. (NasdaqSC:AKLM - News) continued their slide on Tuesday as one of the few analysts still following the company dropped coverage and said bankruptcy appeared to be its only choice. Acclaim shares were off more than 19 percent at 21 cents in morning trade on Nasdaq. The shares have lost more than two-thirds of their value this year, and the stock has not traded at or above $1 since late September 2003. On Friday, the Glen Cove, New York-based company posted a net loss for the March quarter, said it was in default on its 16-percent convertible notes and said it faced bankruptcy if it could not obtain a new banking facility by early August. "In our view, (Acclaim) shares at this juncture are not worthy of serious investment consideration," Harris Nesbitt Gerard analyst Edward Williams said in a note on Tuesday. "Given the financial and operating difficulties the company is likely to face in the current fiscal year, we do not believe the company can continue to operate for very long without seeking bankruptcy court protections," he said. biz.yahoo.com

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