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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (3615)	8/24/1999 10:20:00 AM
From: Gary Korn	Read Replies (2) \| Respond to of 10027

08:09 [NITE] JEFFERIES LOWERS KNIGHT-TRIMARK '99 EPS ESTIMATE TO $1.55, '00 TO $1.95. 08:09 [NITE] KNIGHT-TRIMARK REITERATED 'BUY' AT JEFFERIES This is as I anticipated last week. We should see more downward revisions, generally with a "buy" maintained. Look for more analysts to revise downward (perhaps with some guidance from mgmt) after August numbers are in. These revisions are very helpful vis-a-vis reducing the First Call estimate (the number we have to meet/beat), which had been .41/share for Q3. In a nutshell, the slowdown from Q2 warrants the earnings revisions, but year-over-year growth warrants the buy. Having already taken a position, I'm holding for the long term. Had I not already bought, I'd be a buyer here with an expected potential downside of 4 to 6 points, but much more long term upside. Gary Korn P.S. Interestingly, the Jeffries number of 1.55 for 99 is below the BBRS number of 1.58. With .76 already in the bag, Jeffries is only leaving .79 for the rest of the year, which is less than .40 per quarter. Seems a bit overdone to me.