Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (124401)	5/1/2001 7:56:14 PM
From: H James Morris	Read Replies (1) \| Respond to of 164687

I tried to, but no executions today. >NEW YORK, May 1 (Reuters) - Shares of Wall Street's biggest firms, which got a price boost last month, are too expensive and investors should wait before moving aggressively into the stocks, Credit Suisse First Boston said in a research note on Tuesday. "Valuations are not cheap," said CSFB analyst Joan Solotar, who lowered her second-quarter earnings estimates for Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MWD). Solotar advised waiting for share prices to fall before buying up the stocks. "We remain very selective in our stock picks based on current valuations, preferring Goldman Sachs and Morgan Stanley at the moment," she said. Despite CSFB's preference for Goldman and Morgan Stanley and the strong buy rating on both stocks, Solotar cut her second-quarter earnings per share estimates for both firms. She reduced Goldman's quarterly EPS estimate to $1.14 from $1.26 and cut Morgan Stanley's estimate to 83 cents a share from 93 cents a share. Goldman Sachs closed Monday at $91.10 a share and Morgan Stanley at $62.79. The Amex Broker-Dealer Index rose 15 percent in April as stock markets moved higher. The U.S. Federal Reserve cut interest rates by surprise on April 18, spurring a huge rally in the major indexes.