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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Barney who wrote (16517)	9/30/1998 1:14:00 AM
From: DanZ	Read Replies (1) of 53068

PCCC. PC Connection (PCCC) said Monday that it expects third quarter earnings per share of $0.18 to $0.22, below analysts' estimates of $0.24. The stock closed Monday at 20 5/8 (before the news came out) and opened at 10 5/8 today, down 10 points. It finished the day at 9 15/16, after trading as low as 9 3/4. The monthly chart only goes back to May 1998 so I'm going to assume that it is a recent IPO. I don't fully understand what happened here, but doesn't it seem like a gross overreaction when a stock loses half it's value after saying they might miss analyst's estimates by 2 to 6 cents? Admittedly, that's 10 to 25%, but still, cutting the stock in half seems to be a bit dramatic. Does anybody have any comments on this stock? Thanks, Dan

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