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To: Robert Rose who wrote (100021)	4/12/2000 9:53:00 AM
From: H James Morris	Respond to of 164684

>For technical or fundamental reasons? I just didn't feel comfortable with their #'s...Sales nearly quadrupled to $59.3 million from $15.9 million.

To: Robert Rose who wrote (100021)	4/12/2000 10:01:00 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Robert, here's a stock that's benefiting from the internet...real earnings too. >HOUSTON, April 12 (Reuters) - Enron Corp. <ENE.N>, North America's biggest gas and electricity marketer, said on Wednesday first-quarter earnings per share rose a better-than-expected 17.6 percent as Internet-based trading boosted core wholesale energy operations and profits rose at its energy outsourcing business. Net income excluding non-recurring items rose 33.6 percent to $338 million, or 40 cents per diluted share, from $253 million, or 34 cents per share, in the same period of 1999. Reported earnings per share exceeded Wall Street analysts' average forecast of 37 cents, according to data compiled by First Call/First Thomson Financial. Revenues rose 72 percent to $13.1 billion from $7.6 billion while the volume of gas and electricity marketed by Enron rose 43 percent to 41.8 trillion British thermal unit equivalents a day. "It was a blowout quarter, very good strength pretty much across the board. They beat our (earnings per share) estimate. We were at 37 (cents)," said Paine Webber analyst Ronald Barone. Enron Chairman and Chief Executive Ken Lay said in a statement that strong growth in wholesale volumes was due in part to the company's EnronOnline Internet trading initiative. Launched in late 1999, EnronOnline has notched up over 70,000 transactions with a gross value of $27 billion since then. During the first quarter EnronOnline accounted for 39 percent of Enron's wholesale transactions and 27 percent of wholesale volumes. "I would say that going forward EnronOnline will be a significant driver of the the wholesale business," Barone said. Profits before interest and taxes for the wholesale energy business rose to $419 million from $320 million. The Enron Energy Services unit, which provides energy outsourcing for commercial and light industrial customers, added $3.7 billion in new retail contracts in the quarter and made a profit of $16 million. During the first three quarters of 1999 the outsourcing business was still posting start-up losses, but in the final quarter of that year it posted a first profit of $7 million. Enron said its new broadband telecommunications business had made good progress, further expanding its high-speed network and signing contracts worth $31 million during the quarter to deliver premium content and data. The broadband business broke even. Enron began as a gas pipeline operator but has since emerged as a leading player in deregulated energy markets in the United States and Europe. Its stock rose 55.4 percent in 1999 and so far this year it has risen a further 55.8 percent although it has recently traded below its 12-month peak of 78-1/16 of March 30. Enron's 1999 revenues of $40.1 billion placed it 18th in Fortune magazine's rankings of the biggest U.S. companies.

To: Robert Rose who wrote (100021)	4/12/2000 10:25:00 AM
From: H James Morris	Respond to of 164684

Robert, I think the days of the IPO gold rush is over for a while. >New York, April 12 (Bloomberg) -- Corillian Corp., a provider of banking software, raised a third less than it planned in an initial public offering as a decline in technology stocks sapped investor demand. Corillian raised $32 million by selling 4 million shares at $8. It initially planned to sell the shares for between $10 and $12, raising as much as $48 million. Credit Suisse First Boston, which arranged the IPO, had delayed the sale a day. An 18 percent drop in the Nasdaq Composite Index since March 27 and a record 108 planned IPOs for April has made it difficult for new companies to raise money. ``Everyone is having problems right now, it's no fun,' said Stephen Flaks, manager of the Flaks Partners LP hedge fund. Corillian, based in Beaverton, Oregon, is among several that have reduced their IPOs as the Nasdaq sank. DDI Corp., HealthStream Inc. and Nova Measuring Instruments Inc. all raised less than they'd hoped this week. Others, such as Drugabuse Sciences Inc., shelved their sales. Corillian makes online-banking and bill-paying software. It recently developed products enabling consumers to consolidate personal financial information from several sources. Its customers include Citibank Corp., Quicken.com, SunTrust Banks Inc., and Wachovia Corp. Chase H&Q, Donaldson Lufkin, Jenrette and Friedman, Billings Ramsey & Co. helped with the sale. Asiacontent.com Separately, Asiacontent.com Ltd., which runs Internet sites across Asia, today sold 5 million shares for $14 each, at the low end of its $14 to $16 price range. The Hong Kong-based company's $70 million sale was managed by Goldman Sachs, with Lehman Brothers and WR Hambrecht. Asiacontent.com's Web sites offer sport through an alliance with Cnet Networks Inc., MTV Networks and SportsLine.com. The company also offers online advertising through a venture with DoubleClick Inc., the No. 1 online advertising company in the U.S. Both companies' shares will begin trading today on the Nasdaq Stock Market. Asiacontent will trade under the symbol IASIA. Corillian will trade as CORI. Apr/12/2000 9:36