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Technology Stocks : America On-Line: will it survive ...?
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To: Richard Lyons who wrote (296)10/11/1996 2:42:00 PM
From: Richard Lyons   of 13594
 
Found this on Briefing ... sounds like slide may continue
for a while longer.

AMERICA ONLINE (AOL) 24 3/8 -1 3/8. Stock of on-line content
provider is at major crossroads. Today, stock is retreating on
comments made by Cowen & Co, reiterating its "neutral" rating
of the stock. However, do not be fooled, firm does not like
this stock and if brokerage firms were more apt to issue "sell"
or "short" recommendations, Cowen would likely be at the top of
the list. In today's statements, firm cites advancements of
Microsoft (MSFT) into the sector with its MSN product. Earlier
this week, Briefing believed that stock would advance back to
the $30 level, following a sell-off on news that company
cancelled a meeting with the Alex. Brown sales force. However,
recent announcements by Microsoft, along with the growing short
interest in the stock causes Briefing to believe that shares
are simply to shaky to play on, at this point. Over the
short-term, stock is likely to either continue its decline
(maybe below $20) or will again go back $30. Our bias is to the
upside, but only for the short-term period.
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