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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Terry D who wrote (163)	4/16/1998 10:09:00 AM
From: esecurities(tm)	Read Replies (1) \| Respond to of 3627

CBS MarketWatch Headline News.................. 08:59 [CD] CENDANT CORP CUT FROM GOLDMAN RECOMMENDED, PRIORITY LIST. 08:55 [CD] CENDANT CORP CUT TO NEUTRAL FROM STRONG BUY - MORGAN STANLEY. 08:48 [CD] CENDANT CUT TO LONG-TERM ACCUMULATE FROM BUY - MERRILL. 07:09 GOOD MORNING FROM CBS MARKETWATCH. All times are Eastern Time. All content copyright &copy 1996 Data Broadcasting Corporation. Updated as of: Apr 16, 1998 @ 9:55 am ET; CBS.MW Headline News

To: Terry D who wrote (163)	4/16/1998 11:05:00 AM
From: 16yearcycle	Read Replies (1) \| Respond to of 3627

If this is about $125 million, and they blow the last two acquisitions, why the 16 billion haircut? Should we have legitimate concerns that cuc's business was cooking it's books so much that the entire company can fall apart? How low can it go? At 14 it will have lost 2/3 of its value... a mc of 12 billion.And they will earn about 800 million this year. About 2 weeks ago it was at 36. As Todd says, if there is not massive fraud involved, this will be an amazing opportunity.