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Technology Stocks : Excite [XCIT], an exciting stock to own in 1999!
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To: badon518 who wrote (2022)7/15/1998 2:50:00 PM
From: Platter  Read Replies (2) of 3183
 
From briefing.com on XCIT "EXCITE INC (XCIT) 89 1/8 +15/16. Internet search engine's shares (excuse us "portal") has traded in positive territory for most of the session, despite early weakness in other top industry names. We believe that one of the reasons XCIT is exhibiting strength today is because the company is due to report quarterly results after-the close tomorrow. Given the strong initial move Yahoo! made after the delivery of its extremely impressive quarterly figures and the surge in price experienced last quarter by the search-engines going into their earnings reports, we suspect that traders have already begun positioning themselves ahead of Excite's numbers. The company is expected to have lost $0.39 a share for the quarter, compared to a year-ago loss of $0.43. The stock rose 8 1/8 points to 91 1/8 on the day the company was to announce Q1 results. Unfortunately, XCIT did not deliver the type of blowout bottom-line figure that investors were anticipating, reporting a loss of $0.34 a share, only a penny narrower than the First Call mean. What was the Market's Reaction?: Investors dumped the shares for a 15 7/8 point loss, a decline of 17% from the previous day's closing price. The difference between this time and last is that none of the air had been let out of the Internet bubble at the time of XCITs Q1 report. At that point, the search-engines were trading at all-time highs. Going into this report, XCIT has fallen back 20% from its all-time high of $111."

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