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To: PJ who wrote (7220)	9/8/1999 6:33:00 PM
From: kendall harmon	Respond to of 7396

PPDI an overreaction today, two sets of positive analyst comments Message 11192076 Message 11192109

To: PJ who wrote (7220)	9/8/1999 8:44:00 PM
From: kendall harmon	Respond to of 7396

PPDI-still more after the close, the company expects to meet estimates. <<NEW YORK, Sept 8 (Reuters) - Shares of Covance Inc. (NYSE:CVD - news) tumbled on Wednesday after the No. 2 drug development services firm warned of lower earnings, pulling down its peers as investors feared slowing growth in the sector. In afternoon trading, Princeton, N.J.-based Covance was down about 32 percent at $10-1/2 on the New York Stock Exchange, making it the top percentage loser of the day. Late Tuesday, Covance said it anticipates third quarter and full 1999 earnings to be below analyst estimates because of revenue shortfalls in its business that carries out Phase III clinical trials for drug makers and in its central laboratory. The company further explained on Wednesday that it lost clinical trial contracts not because of an industry wide decline in demand but because it managed its services through separate units instead of one unit, as its competitors do. The company said it is revamping its operations into one unified structure, as preferred by customers. Investors, however, read the profit warning as a potentially industry wide ailment, and sold shares of Covance as well as others in the sector, said analysts. In afternoon trade, shares of Quintiles Transnational Corp (Nasdaq:QTRN - news), the largest U.S. firm which runs clinical trials and other research services for pharmaceutical firms, were down $1 at $33 on Wednesday, and since Tuesday have shed about 10 percent of their value. ''Investors have concluded that (Covance's profit warning) suggests a potential shift away from outsourcing,'' said Edward Keaney, managing director at Volpe Brown Whelan & Co. ''The Covance announcement doesn't portend an earnings disaster,'' Keaney added. Shares of Pharmaceutical Product Development Inc. (Nasdaq:PPDI - news), the third largest outsourcing firm, were also down on Wednesday, about 15 percent, or 3-9/16, at 19-1/2 in heavy volume. ''It is not our belief that industry fundamentals have suddenly collapsed,'' Pharmaceutical Product Development (PPD) Chief Executive Fred Eshelman told Reuters. ''We are comfortable with analyst estimates for the 1999 third quarter,'' he added. Wilmington, N.C.-based PPD is expected to earn $0.29 for the third quarter, according to First Call Corp. In its announcement Tuesday, Covance said it anticipates earning about $0.21 per share for the third quarter -- five cents shy of analysts' consensus. For the full year it expects to earn between $0.91 to $0.93 per share, missing Wall Street estimates of $1.00.>> biz.yahoo.com

To: PJ who wrote (7220)	9/12/1999 5:36:00 PM
From: kendall harmon	Read Replies (1) \| Respond to of 7396

Weekend scans: ARTC, BRCX, CBMI, CRGN, CVTX, FRTE, IONN, INCY, OMQP, PTIX, PUMA, SAPE, SUPG

To: PJ who wrote (7220)	9/13/1999 10:34:00 PM
From: kendall harmon	Respond to of 7396

BRKT-major address by the president tomorrow, may be one to watch. PR NewsWire Brooktrout's President Eric Giler to Deliver Keynote Address At Computer Telephony Demo & Expo '99 Where: Computer Telephony Demo & Expo '99, New York City, Jacob Javitz Center ( Photo: newscom.com ) When: Tuesday, September 14, 1999, 9:30 a.m. What: Eric Giler, president of Brooktrout, Inc., will deliver a keynote address, "Making Telecom and Datacom Convergence Happen." E-business is driving fundamental changes in the way business is being conducted. Today, companies must have fully integrated communication channels, such as phone, fax, e-mail, websites and chat. And given that effective communication is the cornerstone of business, it's no wonder that '.com' companies are grappling with how to better integrate all of these different information systems. Proprietary hardware and software, the lack of industry standards, and expensive "stove-pipe" approaches from competing vendors prevented the rapid creation of highly integrated solutions. What does all this mean to CTI application developers and system vendors? Brooktrout president Eric Giler will describe how system vendors and application developers can select technologies and partners that will give them a competitive advantage in meeting the challenges of converged communications.