Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Softbank Group Corp -- Ignore unavailable to you. Want to Upgrade?

To: Netwit who wrote (4717)	4/2/2000 10:57:00 PM
From: Taikun	Respond to of 6020

Can't figure this market out! TOKYO (Nikkei/Dow Jones)--Shares of Softbank Corp. (J.SFT or 9984) remained ask-only early Monday as the Internet conglomerate's earnings revision Friday triggered sentiment that latent profits, which had supported the stock, have been realized and positive incentives are exhausted, market players said. Softbank shares were last asked at 0045 GMT (8:45 p.m. EDT Sunday), at Y86,500, 5.5% lower than Friday's close at Y91,500 on the Tokyo Stock Exchange. No shares have changed hands so far. For the fiscal year ended March 31, Softbank said it now estimates Y52.50 billion in parent net profit after selling part of its stakes in Softbank Technology Corp. (J.SBC or 4726) and Pasona Softbank Inc. (J.PSB or 4721). Previously it had forecast a net profit of Y12.50 billion. However, the company revised down its parent pretax profit estimate to Y10 billion from the previous forecast of Y13 billion. The revision was due to increased costs for stock options, advisory fees for an investment banker, and commissioning work to an affiliated company, Softbank said. One market observer said that, unlike in the past, the stock might not move in line with the overall market as investors broaden their focus. -0- 03/04/00 01-26G