Part of Red Herring Article:
Next week, Barnesandnoble.com's underwriting syndicate, comanaged by
Goldman Sachs (NYSE: GS) and Merrill Lynch (NYSE: MER), with Wit Capital as the electronic manager, expects to price 25 million shares of Barnesandnoble.com (proposed Nasdaq symbol: BNBN) between $11 and $13. The pricing is expected on Monday, May 24, with trading scheduled for the following day's market. But few people expect the price to stay that low for longer than a few seconds.
Mr. Taulli believes the consumer battle will be won by Barnesandnoble.com. He says, "With the bricks-and-mortar bookstores, the edge must go to Barnesandnoble.com. Chairman Leonard Riggio will give Amazon.com a run for its money. And Mr. Riggio doesn't believe in being number 2 to anybody."
Since earnings for Internet companies are usually nonexistent, analysts turn to another measurement -- price-sales ratio -- to value the stock. Using the $11 to $13 a share proposed price range, Barnesandnoble.com's price-sales ratio is 27.3 times 1998 revenues. At $137 a share, Amazon.com's price-to-sales ratio is 36.3 times 1998 revenues. Mr. Taulli says, "Barnesandnoble.com will close that gap on the opening trade."
P's:
Those who are patient enough will finally win the battle. That Red Herring article is really cheerful. Looks like many people here are already disappeared, sick, or tired. Hanging on, we are getting there.
Thanks for those people who do extra works (.com, Hall-Witt,...etc). |
