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

To: Jan Crawley who wrote (4991)	10/13/1999 11:52:00 AM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 10027

Visibility cuts both ways. On the one hand, if it is all clear, it's harder to be "undervalued", because you know no "skeletons" are in the closet. But by the same token, if things are not clear, but the sentiment is overwhelmingly positive (many internets!), you have a chance to reach insane valuations on the upside. It is my guess, that NITE, being what it is, has killed the latter possibility, but also, should limit the downside. Judging by the LII trading today at least, institutions are still unloading. Retail is buying. But that could change. Strong/weak hands - all the the eye of the beholder. You can see what NITE's prospects are... are you willing to pay for this, and how much? If you think this is great, you'll buy. If you think this is not worth it - you'll sell. I don't think at this point in time it is an issue of weak/strong hands. Those who have held this long, are not weak - now it is pure judgement... do you like what you see of NITE as a business or not. Morgan

To: Jan Crawley who wrote (4991)	10/13/1999 12:40:00 PM
From: blankmind	Respond to of 10027

from the wsj online, you have to like the headline: October 14, 1999 Knight/Trimark's Earnings Soar 66%, Topping Analysts' Reduced Forecasts An INTERACTIVE JOURNAL News Roundup JERSEY CITY, N.J. -- Stock-dealer Knight/Trimark Group Inc. reported Wednesday a 66% increase in third-quarter earnings, enough to top analysts' expectations that were lowered after the company's warning earlier this week. The company said earnings for the quarter reached $21.8 million, or 19 cents a diluted share, compared with $13.2 million, or 13 cents a share, a year ago. Analysts surveyed by First Call/Thomson Financial expected the company to earn 18 cents a share. Per-share earnings were affected by a 13% increase in the number of shares outstanding in the third quarter. Revenue for the quarter rose 49% to $137.6 million from $92.4 million. Online-Brokerage Shares Slip As Web Investors Cut Trading (Oct. 12) Knight/Trimark Says Decline in Trading Will Cause Earnings to Miss Estimates (Oct. 11) Knight/Trimark warned analysts Monday that third-quarter profits would fall short of expectations, citing volatility and lower trading volumes. The company said it expected earnings of 17 to 19 cents a share. Analysts surveyed by First Call/Thomson Financial had expected earnings of 30 cents a share for the period. Industry observers say the decline of Internet-related stocks has led the downturn in volume since online investors simply aren't trading as much as they were in the first half of this year. Knight/Trimark has been on of the major beneficiary of this year's online-trading boom. The firm is the parent of Knight Securities, which is the firm's Nasdaq-stock dealer. Its Trimark Securities unit is one of the largest nonmember dealers in New York Stock Exchange-listed stocks. Knight and Trimark don't deal with individual investors or collect commissions themselves but rather execute orders sent to them by discount, online and full-service brokerage firms and some institutional investors, attempting to profit from the prices at which they trade. Knight/Trimark said it executed 20.4 million trades in the third quarter, up 95% from a year earlier, and traded about 17.8 billion shares, an increase of 88%. The firm also repeated the forecast it made Monday that it expects to continue to have year-over-year volume and earnings increases of more than 30%.