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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Randy Ellingson who wrote (97113)	3/22/2000 12:50:00 PM
From: Bill Harmond	Read Replies (2) \| Respond to of 164684

No. :)

To: Randy Ellingson who wrote (97113)	3/22/2000 12:55:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

William, do you intend to post as much "analyst estimates increased" data for Glenn's benefit once the tide turns for AMZN... ;-) Randy, That is good LOL. Hey I just post what I see. Here is more: Amazon.com (AMZN; $72 3/8; D-1-1-9) Revising Estimates Increased Interest Payments (Henry Blodget 212-449-0773) ? We are revising our estimates for Amazon to reflect the impact of increased interest payments related to the Euro Denominated Debt offering the company completed on February 19(**th). ? We are increasing Q1 and 2000 EPS loss estimates from d$0.34 to d$0.36 and from d$1.15 to d$1.21, respectively. There are no additional changes to estimates. For 2001 we are looking for revenue of $4.6 billion and EPS loss of d$0.45. The E690,000 Euro Notes are due in 2010 and carry annual interest payments of 6 7/8%. Incremental annual interest expense on these notes will be approximately $40 million per year. ? The notes and shares of common stock issuable upon conversion are covered by the company?s existing shelf registration statement. If converted, the notes will cause approximately 2% dilution. The company raised additional money in Europe despite a strong cash position. At the end of Q4, the company still had approximately $706 million in cash on the balance sheet. Pro forma, the company now has approximately $1.3B in cash-more than enough to allow it reach permanent cash flow break-even, in our opinion. Yahoo! (YHOO; $191 3/4; D-1-1-9) Launches B2B Marketplace Directory (Henry Blodget 212-449-0773) ? Yesterday Yahoo! announced the launch of Yahoo! B2B Marketplace, a business-to-business directory aggregating equipment, inventory and product listings from well-known B2B e-commerce sites. Already up and running, Yahoo! B2B Marketplace adds Yahoo!-style functionality to product listings from multiple B2B partner sites (for instance, listings may be tracked through Yahoo! Calendar and emailed to colleagues.) Users must go to the partner site where the item is listed in order to purchase the item. ? Yahoo! is expected to generate revenue from the marketplace through placement and distribution fees paid by the B2B partner sites. Online asset auctioneer DoveBid is the featured sponsor and listing provider; other providers include Freemarkets.com, Imark.com, Tradeout.com, Liquidation.com, PurchasingCenter.com, SurplusBIN.com and Bliquid.com. ? We also think it noteworthy that Yahoo! chose to aggregate other listing sites as opposed to building its own B2B marketplace from scratch. If Yahoo! and eBay were to strike a strategic partnership (as has been suggested in the press), it might involve a similar scenario, in which Yahoo! opens its auction sites to eBay, in exchange for some distribution fee. Nortel (NT; $129 1/2; B-1-1-7) Acquisition of CoreTek, Reiterate Buy Rating (Tom Astle 416-369-7405) ? NT continues to use its strong currency to its benefit to gain first-mover advantage and lock up key component and systems technologies. It is buying CoreTek ?- a maker of tunable lasers ?- for about $1.4 bln. ? Tunable lasers are one of the key missing components for next-generation optical networks, and CoreTek appears to have a technological lead in this area ? thus we applaud this move. Tunable lasers provide much more flexibility to operators of optical networks ? especially those with many wavelengths. ? We are maintaining our Buy/Buy rating and there is no change to our estimates. The deal is expected to be slightly dilutive in 2000 and then accretive in 2001. Infospace (INSP; $159 5/8; D-1-1-9) Stock Weak, Maintain Buy (Henry Blodget 212-449-0773/Sofia Ghachem 212-449-1807) ? Infospace is down considerably from its high. We believe the fundamentals of the business continue to be strong and INSP remains a core holding in the internet space. Volatility on high multiple stocks such as Infospace tends to be exaggerated in market pullbacks. ? There also appear to be some market concerns stemming from a recent Barron's article on Microstrategy's revenue recognition policy. INSP said its accounting practices comply with all of the SEC recent staff accounting bulletins. INSP said its revenues are recognized pro ratum on a monthly basis over the life of a contract. ? We reiterate our $200 price objective and Buy/Buy rating. Internet/e-commerce - February Web Ratings (Henry Blodget 212-449-0773) ? Media Metrics' survey of online usage now includes both World Wide Web usage and so-called "digital media" usage, which gives a more complete picture of the online universe. ? February Highlights: Strong overall user growth. Estimated total U.S. online users increased 2 million from 73 million in January to 75 million in February - a much stronger jump than the typical 750,000 increase. ? The apples-to-apples rankings of the top five sites networks remained unchanged in February. AOL maintained the No. 1 position with (77% reach, down 1), with 58 million users. Yahoo! Sites remained No.2 with 61% reach (flat) or 46 million unique users, followed again by No. 3 Microsoft Sites with 59% reach and 44 million unique users (flat). Lycos remained No. 4 with 42% reach (down 1) and 32 million users, while No. 5 Excite@Home increased 6 points to 41% reach (Excite has been fluctuating by 5-10 points over the past couple months as a result of the Bluemountainarts.com acquisition). RC#10208119 Daily News & Analysis of the Technology Sector Global Technology 21 March, 2000 AFTERNOON EDITION Melissa Bildner Technology Bits and Bytes SM More Resources. Better Answers.SM