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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: Bocor who wrote (4822)	7/26/2001 7:01:49 PM
From: Fast Eddie	Read Replies (1) \| Respond to of 6873

Bocar, don't scroll, use search function at bottom of page. Enter GSPT as keyword and check "this subject only". NotSlow Eddie

To: Bocor who wrote (4822)	7/26/2001 8:54:43 PM
From: Michail Shadkin	Read Replies (3) \| Respond to of 6873

Bocor - My thoughts on GSPT Global Sports, Inc. develops and operates e-commerce sporting goods businesses for traditional sporting goods retailers, general merchandise retailers, Internet companies and media companies under exclusive agreements. Global Sports says Comcast, QVC boost stake on July 23 Comcast and QVC will purchase a total of 4 million shares in the company at $10 each, for a total stake of 9 million shares, or 25.8 percent. biz.yahoo.com Global Sports Reports Second Quarter Fiscal 2001 Results on July 25: biz.yahoo.com Business Outlook: Fiscal 2001 Expectations Net revenue is expected to be approximately $100 million. Gross margin is expected to be between 31.5% and 32.0%. Cash operating expenses are expected to be between $51.5 and $52.0 million. Net interest income is expected to be approximately $2.5 million. Pro forma loss from continuing operations is expected to be between $17.0 million and $18.0 million. Pro forma loss from continuing operations per share is expected to be between $0.53 and $0.56. Cash, cash equivalents, and short-term investments are expected to be approximately $100 million at December 29, 2001 taking into account the strategic investment by a joint venture of Comcast Corporation and QVC, Inc. Third Quarter 2001 Expectations Net revenue is expected to be between $17.5 million and $18.5 million. Gross margin is expected to be between 31.0% and 31.5%. Cash operating expenses are expected to be between $12.0 million and $12.5 million. Net interest income is expected to be between $400,000 and $450,000. Pro forma loss from continuing operations is expected to be between $6.0 million and $6.4 million. Pro forma loss from continuing operations per share is expected to be between $0.19 and $0.20. Cash, cash equivalents, and short-term investments are expected to be between $83.0 million and $87.0 million at September 29, 2001 taking into account the strategic investment by a joint venture of Comcast Corporation and QVC, Inc. Market cap is 477 million Cash is 2.63/share Last 5 quarter pro-forma EPS: -.54 -.45 -.26 -.20 -.17 being this last quarter Nice steady improvement, but the bottom line is GSPT has never had a profitable quarter yet ever. Expectations for 2002 by 5 analysts are +.08 on average. So assuming they will get profitable next year (big assumption) they are trading at a PE of 188. This company boarders on pos. (they do have enough cash for a while and solid backers) The valuation is extremely high. Short term extremely overbought. I could not find shares today at Datek or Etrade. I was desperate to add to my position, but no luck so far. Hopefully tomorrow I can find shares. Michail