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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: donkeyman who wrote (28941)	8/8/1999 9:04:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 41369

Merrill's Blodget Less Bullish on America Online, NYT Reports Bloomberg News August 8, 1999, 1:25 p.m. PT New York, Aug. 8 (Bloomberg) -- Merrill Lynch & Co. Internet analyst Henry Blodget is less optimistic today than he was six months ago about the business outlook for America Online Inc., though he still rates the stock a ''buy,'' the New York Times says. AOL, like other Internet stocks, is vulnerable to higher interest rates because of its lofty price-to-earnings ratio, and faces fierce competition in Europe, where many companies are offering free access to the Internet or are ''bundling'' access with computer sales for a single price. In the U.S., AOL is being challenged by cable companies offering fast Internet connections and the likelihood that Microsoft Corp. will sell cheap access to the Internet or give it away for free, the paper said. AOL shares slid 10.9 percent on the New York Stock Exchange last week, with much of the decline coming Thursday amid concern that Microsoft will trim or eliminate its Internet access fees in a move that could cut AOL's revenue.