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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: NY Stew who wrote (6953)	9/24/1999 12:06:00 PM
From: Eric Jacobson	Respond to of 54805

OK, I did the deed. I sold two of my relative laggards, GPS and MDT, and bought GMST at 75. I almost bought the other day when the volume spiked. Yesterday's strength in a downmarket convinced me. Today's strength made me embarrased I hadn't pulled the trigger yet. From 11 stocks about 6 months ago, I'm now down to 6 stocks - QCOM, HLIT, GMST, EMC, AMGN, and PFE.

To: NY Stew who wrote (6953)	9/24/1999 12:39:00 PM
From: NY Stew	Respond to of 54805

Snippets from the Gemstar report: - Management indicated comfort with our 2q Rev and EPS estimates of $45.8 million and $0.17. Maintain 1-Buy and 12-month price target of $100, we think 2-year price target of $300 is very achievable. - We believe that the the conclusion of the GI arbitration will happen in the next 10 days. GIC damages on analog boxes less relevant than digital portion, however Motorola may intercede to settle both. - TV Guide has made public comments that a settlement was near at hand. Gemstar indicated that while progress was being made, no settlement has been reached. We envision an amicable settlement, by which Gemstar is the only guide, and TV Guide is allowed to private label. Our guess: revenue splits likely 60% Gemstar and 40% TV Guide (after 10% MSO split). - As for AT&T's desire for a global settlement, management was unwilling to characterize any aspect of the case. Since anyone can walk away at any time, it can be construed that progress is being made. Our sources indicate that a settlementin the next 30-days possible and before xmas "highly probable". - The Sony contract with Cablevision was termed "a positive" for Gemstar. Given Gemstar's relationship with Sony, any Sony set-top box that ships with an EPG is likely to include a Gemstar guide. This is a huge win for GMST because multi-year roll out of 3 million boxes.