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Biotech / Medical : ARTERIAL VASCULAR ENGINEERING -- Ignore unavailable to you. Want to Upgrade?

To: Zeus549 who wrote (319)	12/25/1997 10:34:00 PM
From: Jeff Gurian	Read Replies (3) \| Respond to of 339

Hey Lee- Merry Christmas. Ok, so what now? It appears that the FDA approval was lost on some owners. The wires attributed the fall to pure profit taking. Some analysts increased earnings estimates but did not change their recommendation based on the high price. I talked with my friend who works there but he did not have much to say. Its obvious that the market was just waiting for the FDA approval as if it was a foregone conclusion. With only a few days left in the current quarter, and all of them over the holidays, the approval wont have any affect on this quarter, but the next one should be big. Guidant is supposed to have a huge quarter (earnings for them come out mid-Jan) and if they post a large enough number then it might just impact AVE in a good way. Im hoping for some short term buying, but I just dont know what will happen. Overall, though, I think AVE only has a few more quarters of appreciation. They will blow away earnings but eventually the analysts will get wise and keep upping their estimates until AVE sales slow down or they are simply unable to meet them. The next two quarters, though, should be great. Whats your take on this??