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Technology Stocks : Discuss Year 2000 Issues

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To: Bill Ounce who wrote (5761)	5/24/1999 5:49:00 PM
From: Bill Ounce	Read Replies (2) of 9818

usatoday -- Y2K fears cut down bank stocks usatoday.com NEW YORK - Shares of Citigroup, Chase Manhattan, J.P. Morgan and Bank One fell after a Credit Suisse First Boston analyst cut his recommendations on the stocks to ''sell'' from ''hold'' on concern that earnings could be reduced by Year 2000 computer-related problems and a slowing economy. Citigroup's and Chase's stock fell 4%, J.P. Morgan's 1.4% and Bank One's 2.2%. Analyst Michael Mayo downgraded his recommendations on four of the five largest U.S. banks, saying that Y2K problems with customers' computers could affect transactions. He also cited a possible deterioration in capital markets and loan quality if the economy slows.

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