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Technology Stocks : GoTo.com, promising Internet search engine -- Ignore unavailable to you. Want to Upgrade?

To: Dalin who wrote (495)	8/5/1999 6:44:00 PM
From: Robert Brooks	Respond to of 977

From the Dow Jones news service: Mkt Won't Tolerate Future Losses-Analyst By Christina Cheddar NEW YORK (Dow Jones)--Despite beating Wall Street estimates for the second quarter, GoTo.com Inc. (GOTO) shares fell 16.5% in trading Thursday on the likelihood it will post mounting operating losses going forward. Following a conversation with the management of the Pasadena, Calif., Internet company, Thomas Weisel Partners LLC analyst David Readerman widened his estimated loss for fiscal 1999 to $1.24 a share from 83 cents a share. Readerman now estimates the company will post a fiscal 2000 loss of $46.3 million, or 97 cents a share, on revenue of $71 million. Although Readerman's forecast sees $6.3 million more in revenue than his prior estimate of $64.7 million, the expected loss is $20.9 million, or 48 cents a share, wider than his previous estimate of a loss of $25.4 million, or 49 cents a share. Readerman slashed his rating on the stock to market perform from buy because he believes investors won't tolerate the continuing losses. Readerman wasn't immediately available to comment further on his outlook. GoTo.com shares recently traded down 4 7/8 at 24 3/4 on Nasdaq-volume of 2.9 million shares. The stock's average daily volume is 1.5 million. Earlier, the stock traded at a low of 20 5/8.