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Technology Stocks : America On-Line: will it survive ...?
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To: John Howell who wrote (1581)2/7/1997 4:49:00 PM
From: Shafiq Ebrahim   of 13594
 
John,

I didn't know that Chatfield Dean had a -.30 estimate for the last quarter--the fact that they continue to recommend the stock in spite of the fact that their estimates were so far off is puzzling and suggests that the company must be hoping for a dominant position in a future underwriting. Still, I think that there are a few sensible analysts out there--the guy at Smith Barney, for example, pointed out some creative accounting in that AOL treated customer receipts as revenues, but wrote off refunds of the same payments as a non-recurring charge!

Shafiq.
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