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

To: professor who wrote (4569)	10/4/1999 11:55:00 AM
From: Gary Korn	Respond to of 10027

NITE reports earnings on October 21. Gary Korn

To: professor who wrote (4569)	10/4/1999 11:59:00 AM
From: gbh	Read Replies (2) \| Respond to of 10027

Prof, since we have seen estimates come down the day after the quarter close, its likely the analysts were guided. Therefore, there doesn't seemed to be a need for a "warning". The company already knows, within a penny or two, what earnings will be reported. The only near term pop might come if the analysts were intentionally guided to a lower number than the company knows it can deliver. In this case, we would get the now famous "(revised) upside surprise" :) In any event, if volumes continue to improve between now and earnings, the company's forward looking statement will probably be positive. On another note, my opinion is that increased advertising costs will turn out to have impacted earnings more than any of us realized. I would personally rather have seen ALL those dollars subsidized the OLB ad costs, if they really felt the need to spend the money. BWDIK. Gary