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To: Glenn D. Rudolph who wrote (62845)	6/16/1999 11:28:00 AM
From: Olu Emuleomo	Read Replies (2) \| Respond to of 164684

Headline: RESEARCH ALERT-Lehman says Internet bottom near ====================================================================== NEW YORK, June 16 (Reuters) - Lehman Bros analyst Brian Oakes said on Wednesday the bottom could be near for Internet stocks, with no major fundamental issues facing the sector after a long spell of weakness. -- The following are his comments, released in a brief research note from Lehman: -- "While Internet stocks have continued their decline, we believe the majority of it is market-related, not industry-related. Given that thesis and comparing their performance to 1998's market decline, the bottom for Internet stocks is near and offers a great buying opportunity." -- "In the financial crisis of the summer of 1998, the leading Internet stocks fell an average of 50 percent. These same names are now down a similar 55 percent from their highs, as the market crisis is now higher interest rates." -- "We continue to see no major fundamental issues in the group. While all the major Internet names have recent 'minor' issues, none of these justify the steep stock price declines." -- "As during 1998, the next event to look for indicating a bottom in the group is the shutdown of the initial public offering window, which we would view as a positive sign. In addition, with earnings beginning in three weeks, the stocks normally rally." -- "During these market shakeouts, we would advise clients to stick to the Internet leaders, who are strong financially and possess solid brand names." -- Oakes continues to favor American Online Inc. (NYSE:AOL) VerticalNet (NASDAQ:VERT) and Autobytel.com (NASDAQ:ABTL). -- AOL shares were up 9-15/16 at 104 in early trading amid a broad rally in technology stocks. VerticalNet shares jumped 5 to 65 and Autobytel shares rose 1-5/16 to 19-7/16. Copyright 1999, Reuters News Service