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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: David L. who wrote (5972)	11/15/1997 11:36:00 AM
From: PAL	Read Replies (2) \| Respond to of 13594

A stock can go up and have no earnings. Is is not the name of the game EARNINGS? One does not invest in a company that lose money year after year. There are exceptions of course, like Nextel and Quest because they are spending for the infrastructure and the benefit will come later after the foundation is in place. On the other hand AOL is the dominant and established player. Yet it cannot pay its bills (negative working capital). AOL is an OK company but not the these nosebleed level. Merril Lynch upgraded the stock but I have not seen the reason for it. Yet that upgrade is just lukewarm: near term accumulate from neutral. Maybe professional courtesy to Goldman Sachs $ 350 M convertible subordinated debenture st 4% and conversion price of $ 104.