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Technology Stocks : PRTG (PRT Group) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (63)	3/6/1998 9:20:00 PM
From: Anthony Wong	Respond to of 128

The Motley Fool Evening News - Mar 06, 1998 (6:35 PM ET) Information technology and software engineering services provider PRT Group (Nasdaq:PRTG - news) lost half its value today, falling $9 9/16 to close at $9 9/16 after saying it expects a fiscal Q1 net loss of about $3 million due to customer delays in starting Year 2000 projects and changes in ramp-up plans for other projects. Sales are expected to come in below the Q4 figure of $19.8 million. The earnings shortfall will amount to about a $0.16 loss per share. Analysts surveyed by First Call had been expecting earnings of $0.08 per share. Salomon Smith Barney cut its rating on the stock to "neutral" from "buy," based on a "lack of visibility and management credibility" arising primarily from the fact that management had already allocated staffing and other resources to the projects. Analysts believe the company has known since January that the projects would be pushed back, but no one bothered to mention it to investors until today. Benefiting from its rival's misfortune, Y2K services company Peritus Software (Nasdaq:PTUS - news) was up $1 3/4 to $15 5/8 today. fnews.yahoo.com