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Technology Stocks : Viacom, Class B( VIAB ) - The New Viacom -- Ignore unavailable to you. Want to Upgrade?

To: Jay Judell who wrote (17)	5/11/2000 9:30:00 PM
From: MGV	Respond to of 56

I'm disappointed in the poor performance the past two days. Early yesterday, while tech was falling heavily, VIA.B was up almost 1 to 55 and change intraday. By the end of the day, it reversed course and followed the greater market down. Today, it was very weak on no real news. I would think it would be a fairly defensive stock. I know some believe advertising companies are vulnerable to economic cycles but that wouldn't explain the weakness very well. For one, no one is forecasting a recession. More importantly, Viacom's advertising business has so distribution many channels (i.e. radio, cable, outdoor, network TV, internet, cinemas) that it (vulnerable to economic cycles) is not a strong argument in the context of this company. Anyone else have a theory? I do think there are some near term positive catalysts: Infinity.com, strong upfront ad numbers, share repurchases, bundling and spin out of internet properties.