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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (10707)	6/7/1999 11:09:00 AM
From: chirodoc	Respond to of 29970

Portland Ruling Hits Home for @Home By David Shabelman Staff Reporter 6/7/99 10:49 AM ET SAN FRANCISCO -- The impact of last Friday's court ruling in Oregon that requires AT&T (T:NYSE) to open its high-speed cable networks to competing Internet access providers in the Portland area was being felt early today in technology-stock trading. @Home (ATHM:Nasdaq), which is controlled by AT&T and whose stock valuation is largely based on the exclusive rights it owns to offer high-speed Internet access through its cable company partners, was trading down 5 1/2, or 6%, at 89 after tumbling 11 points on Friday. AT&T was off 1/8 at 53 1/4. But the verdict is still out among analysts as to what the ultimate decision will be. In a research note released this morning, Goldman Sachs analysts said that "while the ruling is a setback for @Home, our legal consultants believe it is only a short-term setback that ultimately will be reversed." In a separate note, Credit Suisse First Boston analyst Lise Buyer offered that "it is way too early" for companies like America Online (AOL:NYSE) "to celebrate this decision." "While the court in Portland has sided with AOL, the FCC appears to be less favorably disposed to AOL's case. One court in one region does not a final decision make," Buyer wrote. "Where the ultimate jurisdiction in this case resides remains to be determined." AOL was unchanged at 118 in early trading after gaining 10 3/4 points on Friday. Two of the other largest independent ISPs, Earthlink (ELNK:Nasdaq) and Mindspring Enterprises (MSPG:Nasdaq), were trading lower after rallying sharply late Friday. Earthlink was down 4 5/16, or 7%, at 54 11/16 after gaining 8 points on Friday, and Mindspring was down 3 11/16, or 5%, at 75 5/8 after gaining 14 points on Friday