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To: Victor Lazlo who wrote (74025)	8/16/1999 8:24:00 AM
From: Radim Parchansky	Respond to of 164684

Internet, Biotechnology Stocks Recommended on PBS' `Rukeyser' Owings Mills, Maryland, Aug. 14 (Bloomberg) -- Internet stocks and biotechnology stocks were suggested by James Callinan, manager of Robertson Stephens Emerging Growth Fund, on ``Wall Street Week With Louis Rukeyser.' Callinan said he looks for companies with the fastest revenue-growth rates that are gaining market share in emerging industries. ``The Internet is a brand-new platform for media, for financial services, for technology, and it's really going to revolutionize those industries the fastest,' said Callinan on the Public Broadcasting System show. ``It's also going to have a lot of impact on many other industries.' Callinan said he favors Internet-related software companies such as Macromedia Inc., a maker of Web publishing and animation software, and Netegrity Inc., a provider of software and services for Internet access. He said Check Point Software Technologies Ltd., a maker of software that protects businesses from Internet hackers, has much growth ahead of it. Callinan's other Internet selections includes companies that use the Web to market and fulfill orders, and to offer securities trading. Among the companies he said he didn't favor were Priceline.com Inc., Amazon.com Inc. and Yahoo! Inc. The fund manager also said biotechnology may be blossoming over the next several years. ``I do think there's a lot there and I think over the next five to six years you'll see a lot of new ideas coming out of that area,' Callinan said. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. quote.bloomberg.com

To: Victor Lazlo who wrote (74025)	8/16/1999 9:14:00 AM
From: Glenn D. Rudolph	Respond to of 164684

IPO VIEW-Only best IPOs to survive market undertow By Reshma Kapadia NEW YORK, Aug 15 (Reuters) - Only the best of the best initial public offerings stand a chance this week in the market's treacherous riptides, traders and analysts said. Volatility has sent deals scurrying to the sidelines as concerns over higher interest rates and stock valuations rattle the broad market. "Only the very best are able to get done. (The market) is shifting away from the Internet into another segment," said Kathleen Smith, portfolio manager at Renaissance Capital Corp.'s IPO Plus Aftermarket Fund. "There probably will be more interest in infrastructure companies." Software firm Red Hat Inc. <RHAT.O>, which distributes Linux operating systems, has become the market's most recent hero. It logged a 286 percent gain upon debut and has extended gains amid the enthusiasm for Linux, a version of the UNIX operating system that competes with Microsoft Corp.'s <MSFT.O> Windows NT. "There are always some (deals) that are so head-and-shoulders above everything that you know they will go ahead. We've had Snow White with Red Hat and now we have the dwarves coming, but it looks like most of the smart dwarves are hitting the sidelines. Red Hat is a hard act to follow," said Irv DeGraw, research director at WorldFinanceNet.com. Several deals have been postponed, including flower marketer Ftd.com Inc., and many more have been delayed until after Labor Day and after the Federal Reserve's key August 24 meeting on interest rates. The fear of another interest rate hike has spooked U.S. markets and lightened the IPO calendar. Among the couple of deals that have struck some interest are category-based Internet directory LookSmart Ltd. and specialist firm LaBranche & Co. Inc, both slated for this week. LookSmart's Internet properties target female household purchase decision-makers. In its prospectus, the firm, whose competitors include Infoseek Corp. <SEEK.O> and Compaq Computer Corp.'s <CPQ.N> AltaVista, said it planned to expand into international markets. It expects to get most of its revenue from the sale of ads and other services such as syndication of its directory. LookSmart plans to offer 12 million shares in a range of $11 to $12 through lead underwriter Goldman Sachs. Analysts said it might have a tough time as many Internet companies, especially portals and directories, have taken a beating in the recent market downturn. "I don't think the world needs another general purpose Internet portal. The general space right now has brutal competiton," said David Card, an analyst at Jupiter Communications. The research firm was more bullish on affinity portals that aggregate content and use search and directory features built around a more selective audience, he added. "I'm not surprised there is interest in it (LookSmart), but it's not in a popular category (right now)," Smith said. "There will probably be more interest in infrastrucutre companies that fit into the category of high-growth companies that are not front and center Internet companies, but stand to grow from the Internet." Another company getting a lot of attention is LaBranche, one of the oldest and largest specialist firms on the New York Stock Exchange. "LaBranche is a good company in the wrong sector," Smith said. "It is financially one of the strongest we've seen. You have to compare it to a brokerage firm or online brokerage and see the carnage in the sector. Timing is everything for them. If they can (price) as the market is turning up..." The broker-dealer plans to offer a 25 percent stake, or 11.5 million shares, in anhe offering tentatively expected to price between $15 to $17. Salomon Smith Barney is the lead underwriter on the deal. Novamed Eyecare Inc., which owns and operates 10 eye surgery and laser centers, may also generate interest. "It is pretty well-established and we haven't seen many of this type...