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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: DOUG H who wrote (3982)	6/24/2000 7:56:00 AM
From: Keith A Walker	Read Replies (1) \| Respond to of 6531

Absolutely. Almost everything was up in after-hours. Although I don't own the stock, Amazon provides us with a dose of their reality: Amazon.com Says Not Running Out of Cash PALO ALTO, Calif. (Reuters) - Internet retailer Amazon.com Inc. (AMZN.O), responding to negative research on the company, said on Friday that it was ``nowhere near running out of cash.'' The comment came largely in response to a report from a Lehman Brothers credit analyst who described Amazon's credit as ''extremely weak and deteriorating.'' Lehman urged in the report that investors avoid the convertible bonds of Amazon.Com, the world's leading Internet retailer. ``From a bond perspective, we find the credit extremely weak and deteriorating,'' Lehman said, warning that Amazon.com risks running out of cash by the middle of 2001. Amazon.com spokesman Bill Curry called the comments ''absolute, pure unadulterated hogwash.'' ``We are nowhere near running out of cash,'' Curry said. ''Anyone who understands the cash flow dynamics of this business knows this.'' Curry noted that the company ended the first quarter with more than $1 billion in cash, and expects to become cash flow positive later this year. He declined to speculate whether the company would need to raise additional cash before it became profitable. The Lehman comments, along with some cautious comments about revenues from two top Wall Street securities analysts, triggered a sell-off in Amazon's shares on Friday. Reut20:38 06-23-00 --------------------------------------------------------------- Two factors should make next week pretty interesting. FOMC meeting (with no rate increase, IMHO) and end-of-the-month window dressing. Regards, Keith