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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Carolyn who wrote (22863)	12/18/2000 11:17:36 PM
From: The O	Read Replies (2) \| Respond to of 28311

InfoSpace Falls 13% as Analyst Lowers 2001 Forecasts (Update1) By Dina Bass Bellevue, Washington, Dec. 18 (Bloomberg) -- InfoSpace Inc. shares fell 13 percent after a Goldman, Sachs & Co. analyst lowered his 2001 earnings and revenue forecasts for the provider of Internet information to mobile-phone companies. InfoSpace fell $1.28 to $8.97 in Nasdaq trading after dropping to $8.63, their lowest level since March 1999. The stock has declined 83 percent this year. Analyst Vik Mehta, who rates the shares ``market outperform,'' reduced his estimates for InfoSpace's 2001 sales to $341.6 million from $362.4 million. In a note to clients, he cut his earnings target for next year to 12 cents a share from 13 cents, citing a slowdown in the advertising and technology markets. Mehta wasn't available to comment. On average, analysts polled by First Call/Thomson Financial expect the company to earn 14 cents a share for 2001. Three analysts have lowered their 2001 estimates in the past month, according to First Call. Mehta said in the note that he expects the company to meet or exceed his estimates of $66 million in revenue and a penny a share in profit for the fourth quarter of 2000. Bellevue, Washington-based InfoSpace offers information such as weather reports and stock quotes to telecommunications companies and Internet service providers. These companies then provide the information to their customers.