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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (2688)	12/16/2004 7:57:14 AM
From: Walkingshadow	Respond to of 8752

Yes, and those BBs are just aching to be split open wide! But there's trouble brewing too. Shares coming out of lockup today. And BofA (I always hated that bank) just issued a price target of $158 for GOOG, which is now trading over $20/share higher than their target. Explain this: they issue a recommendation of neutral for a stock that they project will be trading $20 less per share than the current price??? If it hits their price target, that makes GOOG an 11% profit if shorted now. They don't have enough huevos to back up their price target by recommending that GOOG be shorted, or at least sold ???? Does "Neutral" mean the stock if owned should be held, or what??? What a great call. Brilliant. Remind me never to open an account at BofA..... =================================================== From Bloomberg: Google Inc. employees and other insiders will be allowed to sell another 24.9 mln shares today, potentially increasing the amount of stock on the market by 38 percent and putting pressure on its price. The stock in circulation may rise by another 24.9 mln shares on Jan. 15, and the final so-called lockup period will expire on Feb. 14, pouring 176.8 mln more shares into the market. Those increases may temper a stock price that has more than doubled since Google's Aug. 18 initial public offering. "We used the first lockup as an opportunity to buy some stock,'' said Walter Price, who co-manages the $606 million Pimco RCM Global Technology Fund in San Francisco, including shares of Google purchased after a previous lockup on 39.1 million shares expired in November. "That's been a good strategy so far." The Nov. 16 expiration of the first lockup more than doubled the total number of shares available for trading to 66.3 mln. The shares fell 6.7 percent that day. Re BofA: BofA Sec initiates GOOG with a Neutral and price tgt of $158 primarily b/c of their anticipation of significantly increasing marketing costs, which could slow EPS growth, as well as expectations embedded in the stock. Firm remains positive on the growth story of the search business. With nearly $10 bln dollars at stake in U.S. online advertising, the competition is fierce. In paid search, the co's main rev driver, competition includes YHOO, ASKJ, MSFT, and AMZN. Competition could translate into a lower-than-expected growth trajectory for the co, in firm's view. Despite their Neutral rating, they continue to expect search advertising to grow at 20%+ for the next several years. Futures are flat, oil near $44/barrel right now, gold moving up, dollar failing miserably again. Euro markets up a bit, Asian markets down a bit. SEPR will be flying high today. T