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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (14238)	9/26/2000 8:40:15 PM
From: puborectalis	Read Replies (1) \| Respond to of 24256

Some solace.......VerticalNet Chmn Says Co. Strong Despite Stock Weakness Tuesday, September 26, 2000 05:32 PM Mail this article to a friend By Dinah Wisenberg Brin Of DOW JONES NEWSWIRES PHILADELPHIA (Dow Jones)--Business-to-business giant VerticalNet Inc. (VERT, news, msgs) is doing better than ever, according to Chairman Mark Walsh, who cited several factors for the stock's recent weakness. "I think VerticalNet has never, ever been in a better position than it is now," Walsh told Dow Jones Newswires on Tuesday, shortly before the stock closed down 14% at $30.25 on heavy volume. Madison Securities raised its rating on VerticalNet to "buy" from "accumulate" Tuesday, while Credit Suisse First Boston maintained its strong-buy rating. But highly watched Merrill Lynch technology analyst Henry Blodget issued a mixed report on the company. Blodget, who rates the stock at accumulate with a long-term buy, predicted a solid third quarter but one not strong enough for a sustained rise in the stock. Walsh cited several factors for the recent soft stock prices, including "general dismay" about the potential for negative earnings surprises throughout the Internet industry, which he called an "underinformed stance" as far as VerticalNet goes. VerticalNet has issued no profit warnings, and it has gone on record as saying it remains comfortable with market expectations for its third-quarter earnings, due next month, Walsh said. Chipmaker Intel Corp.'s (INTC, news, msgs) recent third-quarter profit warning also has hurt VerticalNet's stock because "uninformed investors" believe it will hurt the B2B company's electronic component exchange, Walsh said. Overall sentiment that infrastructure and software companies are the "flavor of the month" also has unfairly hurt VerticalNet, which will participate in all areas of Internet growth, Walsh said. Mixed Report From Merrill's Blodget VerticalNet stock could get a near-term bounce, Blodget wrote, because the only significant reasons for its weakness appear to be general market turbulence and unfounded rumors in early September that it would acquire Ventro Corp. (VNTR, news, msgs). The stock has not yet regained strength even though VerticalNet discounted the speculation. However, Blodget said, "in our opinion, the catalyst for sustained stock appreciation will be a quarter where the upside potential to advertising revenue and, especially, e-commerce revenue, is particularly outstanding. ... We do not believe that VerticalNet's third-quarter results will be that catalyst." Blodget speculated there could be some upside to Merrill's third-quarter estimate of a loss of 30 cents a share, a penny lower than the Street consensus. But he said the upside likely would come from VerticalNet's exchange business, which doesn't start going online until later this year. Until then, Blodget said, that revenue "won't excite us very much." VerticalNet's diversified approach holds more promise than many other vertical online marketplaces, Blodget wrote, but "investors will need patience to let some of the company's e-commerce strategies take hold before the stock is poised for a sustained run." VerticalNet operates 57 online trading communities and builds Internet marketplaces for businesses and consortiums.

To: Frederick Langford who wrote (14238)	9/26/2000 9:18:30 PM
From: HandsOn	Read Replies (2) \| Respond to of 24256

I agree Fred, just got back from dropping my friends dog off at Their house after taking care of Her for 5 weeks while They were in Bali. It looks like VIAN put in a bottom this morning, steady buying all afternoon. Big boys have been accumulating last few days, looks like float was drying up this afternoon.