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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Grandk who wrote (47917)	12/14/2000 8:12:37 PM
From: Ilaine	Read Replies (2) \| Respond to of 436258

I could be persuaded that they simply held it together for as long as they could - "Caaptain! She canna go at this speed any longer!" And you're right, my boy Dubya will get the blame. But I'll always know the truth. -g-

To: Grandk who wrote (47917)	12/14/2000 8:15:15 PM
From: UnBelievable	Respond to of 436258

Size Of Shortfall Surprises Street >MSFT Although the culprits behind Microsoft's prediction were widely known -- slack computer sales and slowed corporate technology spending -- the size of the shortfall was surprising for analysts.. "As far as market dynamics there's nothing really different ... but its seems to have hit a little harder than we expected," said Aaron Scott, analyst at Tucker Anthony Capital Markets. He said the lowered guidance would prompt him to cut about $1 billion from his estimated $26.4 billion in fiscal 2001 revenue. In the days preceding Microsoft's announcement, some analysts had been prescient in warning of trouble but underestimated the size of its shortfall. Prudential Securities' Doug Crook downgraded Microsoft Tuesday, warning it might have to lower guidance for the second half of its fiscal year given the clouded outlook for PC demand. And last week Rick Sherlund of Goldman Sachs cut his revenue forecasts for the next three quarters and trimmed earnings estimates because of the slack consumer PC market. But Microsoft's warning puts its financial figures well below both his and Crook's tempered expectations. It's not clear how much of the bad news is already factored into Microsoft's depressed share price. Microsoft's shares stretched their losses in the after-hours session -- recently changing hands at $51.36 on the Island ECN -- and will likely open lower and weigh on the broader Nasdaq index Friday. "I think a good chunk has been priced into the stock" given the series of disappointments from PC makers, said Scott, but Microsoft's setback will make it harder for the stock to recover anytime soon. "Investors need to take a long-term outlook when buying Microsoft right now." -By Marcelo Prince, Dow Jones Newswires; 201-938-5244; marcelo.prince@dowjones.com