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Gold/Mining/Energy : BCE Emergis - global e-commerce -- Ignore unavailable to you. Want to Upgrade?

To: Big Idea who wrote (937)	9/22/1999 7:03:00 AM
From: micny	Read Replies (1) \| Respond to of 1341

"...and don't talk about CKFR anymore on the IFM thread! I feel obligated to, particularly when you post this kind of garbage! What the hell is so good about CKFR - they are $28 US off the 52 week high. J.P. Morgan reports: CHECKFREE: INVESTOR MEETING CONFIRMS CONFIDENCE IN CHECKFREE'S OPPORTUNITIES 08:34am EDT 20-Sep-99 J.P. Morgan (ARCHIBOLD, R. (1-212) 648-6231) CKFR September 20,1999 J.P. MORGAN SECURITIES INC. - EQUITY RESEARCH RAIMUNDO C. ARCHIBOLD JR, CFA (1-212) 648-6231; archibold_raimundo@jpmorgan.com John Reilly Walsh, CFA (1-212) 648-8028; walsh_john@jpmorgan.com CheckFree (BUY) INVESTOR MEETING CONFIRMS CONFIDENCE IN CHECKFREE'S OPPORTUNITIES; REITERATE BUY CKFR Earnings Per Share* P/E 52-Wk ------------------ ----- MkCap 9/17 Rge 6/98 06/99 06/00 1Q/00 1Q/99 06/99 06/00E Yld ($MM) ---- ----- ----- ----- ----- ----- ----- ---- ---- ---- ----- $41.63 $69-6 (0.05)A 0.04A (0.35)E (0.10)E (0.05)A NM NM 0.0% $2,331 Calendar 52-Wk ------------------ ----- MkCap 9/17 Rge 12/98 12/99 12/00 3Q/99 3Q/98 12/99E 12/00E Yld ($MM) ---- ----- ----- ----- ----- ----- ----- ---- ---- ---- ----- $41.63 $69-6 (0.25)A (0.16)E 0.00E (0.10)E 0.00A NM NM 0.0% $2,331 Note: Excludes nonrecurring items. Our reports and models are now available on the JPMS MorganWISE Website. Please contact your JPMS salesperson for more information. CheckFree's annual investor and analyst day last week confirmed our belief the market for electronic bill payment and presentment is CheckFree's to lose. Two significant announcements were disclosed at the event. First, the CEO of Wingspanbank.com (Bank One's (ONE/$36.88/Market Performer) stand alone Internet bank) announced CheckFree would be integrated into their bill payment and presentment offering over the next few months. Second, CheckFree's management indicated Excite@Home would be using CheckFree's services by the end of calendar 1999. The addition of these two clients further extends CheckFree's Internet distribution capabilities, as management executes its strategy of providing electronic bill presentment and payment services at any point of contact selected by the end user. Accordingly, we reiterate our Buy rating and our $80 price target on the shares of CheckFree. We believe investor confidence has been renewed in CheckFree's management and its leadership position in what we believe is a very attractive market. Overview of the Meeting CheckFree's investor and analyst day comprised a series of presentations from CheckFree senior management, distribution partners (Wingspanbank.com) and billing partners (Countrywide and SBC Communications). The tone of CheckFree's management presentation was characteristically optimistic as delivered by CEO Pete Kight and President Pete Sinisgalli. Kight, the company's founder, hit on a theme of coopetition as CheckFree realizes they will not be the only bill payment and presentment provider but overall increased market acceptance of these services will ultimately benefit several participants. We believe this is particularly true in bringing billers online - CheckFree realizes its will not be able to work with every biller but has smartly targeted the largest billers and the largest metropolitan areas to make bill presentment a reality. Another focus of the CheckFree's two most senior executives was 4.6 sigma, or dial- tone quality service that equates to 99.9% system availability. CheckFree believes the quality of its service will set the standard by which others in the market will be judged, thereby differentiating its offering by capitalizing on the investment it has made in Genesis. CTO Ravi Ganesan built upon last year's "messyware" theme regarding the complexities of CheckFree's business to a 'You've Got Money" theme discussed below. Distribution As we have written in the past, CheckFree's third-party position will make it the vendor of choice for banks, non-bank financial and pure-Internet distribution partners. CheckFree's most visible competitor, TransPoint, could experience channel conflicts when attempting to attract distribution partners. With the announced addition of Wingspanbank.com and Excite to the launched Yahoo! (YHOO/Buy/$163.13) service, 350 financial institution, Quicken, Quicken.com and 8 of the top 10 brokerage firms as partners, CheckFree's distribution channel gives us a high degree of confidence in its ability to deliver 5 million subscriber by June 2000. Subscriber Growth We believe subscriber growth for CheckFree's traditional channel will be 5- 8% sequentially for its FY00 and the Internet distribution channel to add between 1.0 million and 1.2 million subscribers by June 2000. While we recognize consumer behavior (i.e., subscriber growth) is difficult to predict, the aforementioned breadth and depth of CheckFree's distribution capability gives us confidence in our expectations. Pay Anyone Capability, Seamless Tracking Infrastructure and Bill Presentment Technology Continues to Differentiate In addition to the unique distribution capability of CheckFree, the company's combination of a pay anyone capability, seamless tracking infrastructure and bill presentment technology allows it to differentiate its offering and be the vendor of choice for the markets largest participants. Competition During the past year we have witnessed competition in this space mainly in the form of press releases - with no material impact on CheckFree's business prospect nor our expectations for the company's future leadership position. TransPoint, still the most likely number two player the market, has signed only a handful of billers and hasn't extended its distribution capability. Spectrum (previously called The Exchange) caused a significant amount of confusion in the market with its press release in June. As investors have worked their way through the competitive landscape, CheckFree's shares have risen higher than the when The Exchange announcement was released. We believe investors must realize that CheckFree will not be the only electronic bill payment and presentment vendor, but market leadership and long-term dominance it theirs to lose. Bill Presentment - Catalyst for Consumer Adoption; Opportunity for Billers We continue to believe bill presentment will provide a catalyst to entice consumers to enroll in electronic bill payment. CheckFree's E-bill Version 3.0 provides billers with the opportunity to have a rich interactive session with a customer whenever a bill is viewed. Functions such as dynamic summary where a total will be re-calculated when a consumer enrolls in a program or disputes a charge are features we believe CheckFree's competitors a at least 12 months behind. CheckFree currently has contracts with 64 of the 150 largest billers in the U.S. of which 29 are live in production today. The company's stated goal is to sign an additional 55 billers and have 90 live billers by the end of its fiscal year in June 2000. You've Got Money CTO Ravi Ganesan provided attendees with insight into CheckFree's targeted market segments in 2000. The theme was to change the proposition to consumers from "You've Got Bills" to "You've Got Money" on the idea of the "stickiness" of a place on the Internet where consumers could go to "receive" payments. Ravi used the popularity of online auctions as an example of a transaction that is agreed upon online but fulfilled with a payment via a paper check. CheckFree will leverage its payment and tracking infrastructure to enable person-to-person electronic payments. The service is targeted to be launched in the spring of 2000, and we will look for more specifics on the offering as the launch approaches. (J.P. Morgan Securities Inc. acted as co- or lead-manager in an offering of securities for ONE within the past three years. The analyst and research associate holds a position in CKFR.) First Call Corporation, a Thomson Financial company. All rights reserved. 888.558.2500 END OF NOTE They are behind when it come to EBPP. All they do is payment - their presentment is not great and they have lots of competition for payment. Leaps and bounds better than ANYTHING else out there! CheckFree Billers # Company 1 AEP American Electric Power 2 Ameren UE 3 Amoco 4 Avista Utilities 5 BellSouth Telecommunications 6 Boston Edison 7 Cellular One San Francisco 8 Chase Credit Card 9 Chase Mortgage 10 Connecticut Light & Power 11 Columbia Gas of Ohio 12 Consumers Energy 13 CUNA Mutual Group 14 Florida Power & Light 15 GPU Energy JCPL 16 GPU Energy METED 17 GPU Energy PENELEC 18 GTE 19 GTE Wireless 20 HomeSide Lending, Inc. 21 Houston Cellular 22 Illinois Power 23 MCI WorldCom 24 Nicor Gas 25 North Carolina Power 26 Portland General Electric 27 Qwest 28 Salt River Project 29 San Antonio Water System 30 Small Business Admin 31 Virginia Power 32 Western Massachusetts Electric <Banks are dropping them in the US on a daily basis because the offering is weak and provides no value to billers. Which banks in particular are you referring to? I Haven't heard of ANY! Compared to Emergis' eroute offering both the US version of Transpoint and Checkfree are a distant second. This HAS to be a joke!! I have heard there are international opportunities for Emergis for EBPP. Like CKFR doing New Zealand, and going to Europe with EDS? What international opportunities are you HEARING about for emergis?

To: Big Idea who wrote (937)	9/22/1999 7:08:00 AM
From: Benny Baga	Read Replies (1) \| Respond to of 1341

>>>What the hell is so good about CKFR - they are $28 US off the 52 week high. They are behind when it come to EBPP. All they do is payment - their presentment is not great and they have lots of competition for payment. Enough B.S., never read such a bunch of b.s., What the Hell has IFM done in Bill Presentment? Answer: Nothing! Read an weep: bills.yahoo.com The #1 Portal in the World and CheckFree's name is on the front door. Where is IFM? Can't find them! >>>>Banks are dropping them in the US on a daily basis because the offering is weak and provides no value to billers. More B.S.! Name one Bank major bank that has dropped CheckFree! Answer: You Can't! In fact CheckFree just picked up Wingspanbank.com from M&I data. As far as billers go, nobody has signed up more billers than CheckFree. >>>>Sell your damned CKFR and buy IFM and don't talk about CKFR anymore on the IFM thread! OH Yeah, we only want positive post about IFM, no negative. O.K. it safe to put your 'blinders' back on. Benny(IMHO)

To: Big Idea who wrote (937)	9/22/1999 8:58:00 AM
From: salva	Respond to of 1341

Dont have the time to debate you- you have 'no idea'!!! what the $&*^ you are talking about when it comes to CKFR!! and for that matter 'suggesting' that I tell the brokers to get off thier asses! Get your ass into a brokers office and ask them why you should buy IFM-they will tell you we 'no idea' why we (brokers) should recommend purchase!!! Lots of promise but no direction!- Imagine they are stil devoloping strategy - others (ckfr) are EXECUITING STRATEGY- Yahoo portal etc. Besides IFM wants to be B2B -'only' ---CKFR has lightyears of a lead in EBPP - just go read the 'intelligent' ckfr thread- you might learn something. And finally ckfr was hit too --down to $25 its back to $42 IFM was up to$47 -its still in the toilet at $28!! thnks 'maybe' to all of friends and founders of 'totalnet ' who sold off the stock for 'no' reason at all when it was $40!! That was a very strange selloff indeed!! It smells to me! Are you one of those?? Or an IFM employee?? By the way I own 5000 shares of IFM and am righfully pissed off the way its performed in last few months--like many brokers for that matter--just ask them. AND I OWN CKFR TOO THANK GOD!! Finally I will not bebate you anymore- its not my style to spend time with people who 'insult'--

To: Big Idea who wrote (937)	9/22/1999 12:28:00 PM
From: rocki	Read Replies (1) \| Respond to of 1341

>>Sell your damned CKFR and buy IFM and don't talk about CKFR anymore on the IFM thread! Well I read your post last night and declined to answer immediately because it would have been probably worse than some of the above responses. It seems that you want control or threadmaster of this thread and dictating what can and cannot be said on this thread. I donot condone that kind of activity at all, everyone can state their thoughts or ideas here---you dont have to believe it, but dont criticize someone with a different oppinion than yours. Salva's reference to CKFR is valid,(I dont have shares), but is considered #1 in US , IFM is in pilot stage but will only be 10-15% IMO of future revenus--Although they will be bill presenting 80% of Canadians pop. So there is some valid relationship. You do realize we are in partnership with Transpoint in the e-route deal. Also in reference CKFR price they have bounce from 15 to 40, IFM is still at bottom. He sees this (CKFR) as encouraging, and that is OK. The only thing that ticks me off is dont tell us what we can say or not to say!!! Thats what these threads are all about.