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Technology Stocks : LBRT - Liberate -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (229)	6/28/2000 11:18:00 PM
From: patchman	Respond to of 409

San Carlos, California, June 21 (Bloomberg) -- Liberate Technologies shares rose 14 percent two days after America Online Inc. said it will introduce an interactive-television service that uses software made by Liberate. Shares of Liberate rose 3 1/4 to 26 5/16 on Nasdaq. The shares were first sold to the public in July, reaching a high of 148 1/2 on Dec. 28. They've fallen 80 percent this year. Liberate, based in San Carlos, California, makes Internet software used in the set-top boxes that will bring the new AOL service to customers. Jennifer Smith, an analyst at Dain Rauscher Wessels, said she may increase earnings and revenue estimates for Liberate's fiscal fourth quarter if sales of AOLTV go well. The company is expected to release results on June 29. ``It took the market a while to figure out that Liberate should benefit handsomely from this,'' said Smith, who expects the company to lose 20 cents a share on revenue of $8.4 million for the quarter. Smith, who reiterated a ``strong buy'' rating Monday, continues to expect the stock to reach $70 within 12 months. The service, which will be available next month in eight U.S. cities including Baltimore and Phoenix, requires the $250 set-top box plus a monthly $14.95 fee in addition to the $21.95 America Online charges for its basic Internet service. Smith expects Liberate to get $11 for every box sold. AOL, which is trying to create the world's largest Internet and media company through a $142 billion acquisition of Time Warner Inc., will try to lure its 23 million subscribers to sign up for AOLTV as a less-expensive alternative to a second personal computer. Dulles, Virginia-based AOL, the world's largest Internet- service provider, fell 11/16 to 57 3/16 on the New York Stock Exchange. Jun/21/2000 17:20 ET