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Non-Tech : RAINFOREST CAFE
RAIN 5.910-3.8%Dec 17 3:32 PM EST
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To: Mel Boreham who wrote (4552)1/12/1999 3:09:00 PM
From: Dylan  Read Replies (1) of 4704
 
Impact of SSS declines on RAIN:
Looking at the drop in CAKE today has made me think about RAIN a little bit. When RAIN made its warning last January, the stock dropped from $30 to $19 per share in one day, a drop of almost 50%. This was because RAIN warned of missing estimates by .01 (24 cents instead of 25) and that SSS were declining in double digits. CAKE issued a warning of missing earnings significantly (14-16 cents instead of 21), and their stock dropped from 28 to 22, a drop of less than 25%. There are two major reasons I can think of as to why they did not drop nearly as much: 1) SSS are not down at CAKE, and 2) Management actually made a pretty good effort at explaining why and they gave lots of other details to give the impression of being a very open, honest, and trustworthy company. Quite frankly, the explanations given by RAIN were weak in comparison to those given by CAKE. -Dylan
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