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Technology Stocks : eidos--maker of Tomb Raider
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To: Jeff Lins who wrote (1145)7/28/1998 12:38:00 AM
From: Bleeker  Read Replies (1) of 1773
 
Jeff, do you want to know one reason why the volume is low?
(By the way I'm long EIDOS too.) Take a look at what bond
issuance does to a stock. THQ just announced a convertible
bond offering from a position of strength after 14 quarters
of positive earnings. My sense is that it will drop in the
next couple of weeks. Since EIDOS has confirmed that it is
on the acquisition hunt, another bond offering cannot be
ruled out; except in the case of EIDOS it has only had two
consistent quarters of positive earnings; it already has
outstanding debt and the First Call estimates for Q1 is -33
or -34 cents (with Goldman's even lower); more of the same
in Q2. I hate to sound more negative than you but these are
some of the reasons why there are few buyers of EIDOS now.

Bleeker
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