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To: Defrocked who wrote (3252)	7/24/1998 5:04:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

Well, the Govt itself is tainting the economic numbers (I read a convincing article that looked at the employment numbers and how they may be manipulating them). Heck, why not the big institutions with a lot of money paint the tape? On even a smaller scale, if your company stock is a high flying stock (pressumably driven by short-term players), better not disclose the matter in press-release. Rather, tell it to a bunch of blood sucking analysts on the Street: <<i2 TECHNOLOGIES (ITWO) 28 3/4 -7 5/8. The conference call gets them again! Following this developer of supply chain management software's earnings report last night, investors and traders were looking forward to a nice move in ITWO stock this morning. Given that earnings per share came in at $0.09 a share, a penny above estimates and revenues increased 64% yr/yr and 26% sequentially to $83.6 million, a 2 to 3 point upside move would not have been out of the question. Guess again. Increasingly, management of company's with a large individual investor presence have moved away from including cautionary comments in their press releases, fearing that the near-term-results-oriented individual investor community will overreact. As a result, unless investors were on the conference call, most had no clue what was in store for them this morning. ITWO shares opened trading 13% lower and have fallen as much as 22% after the company made cautionary comments on its conference call. Management expressed its concerns about the quality of earnings going-forward, as well as the strength of the company's pipeline. In addition, ITWO is worried that European operations may not deliver the level of growth previously expected. In reaction to the news, Raymond James has lowered its investment rating from "buy" to "neutral" and lowered earnings estimates for this year and fiscal 1999. The firm's full year 1998 estimate was cut by 2 cents to $0.33 (P/E 87) and FY99 was lowered 10 cents, or 17%, to $0.50 (P/E 58). According to First Call, ITWO was expected to earn $0.36 (P/E 80) and $0.61 (P/E 47) for fiscal years 1998 and 1999.>>