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To: clutterer who wrote (18870)	11/20/1998 8:55:00 AM
From: mark joyce	Respond to of 120523

18-Nov-98 12:00 -- 13:00 ET UBID INC (UBID)Shares of Creative Computers (MALL 24 1/4 +6 3/8) are rallying on news the company's wholly-owned subsidiary, uBid, has filed its S-1/A form with the SEC to bring the company public. MALL shares have soared 30% since Briefing.com announced this news on the In Play page. Upon completion of the offering, Creative will own approximately 82.3% of the outstanding shares and 80.1% if the underwriters exercise their over-allotment option in full. uBid plans to sell 1.58 mln shares in the Merrill Lynch-led offering. The question that many traders are asking is what is the value of Creative's stake in UBID at $50 or $60, or even $80 a share. However this is really not a appropriate method of assigning a value to Creative Computer shares. theglobe.com (TGLO 37 5/8 -2 13/16) may have rocketed to $97 on its first day, but the stock now trades 61% below that level. Hence, UBID could trade down dramatically from early price levels by the time insiders have an opportunity to sell. But, unlike many public companies which hold stakes in Internet IPOs, Creative plans to distribute its stake in uBid to MALL shareholders through a tax-free distribution. The distribution, however, will occur no sooner than 6 months after the close of the initial public offering. Specifically, uBid operates an online auction for excess merchandise, offering close-out and refurbished products to consumers and small to medium-sized businesses. The company currently conducts auctions seven days a week, offering an average of over 1000 total items per auction. The primary problem that uBid faces is that it is a fourth-tier player in a very crowded space. Already, OnSale (ONSL), Z-Auction, Egghead.com (EGGS), Surplus Auction and First Auction have branding that is stronger or almost as prominent as uBid's. As for uBid the stock, this group has really fallen out of favor, primarily because of the extremely skinny gross margins characteristic of the surplus auction market.

To: clutterer who wrote (18870)	11/20/1998 8:57:00 AM
From: mark joyce	Read Replies (2) \| Respond to of 120523

what about BEAS! This has been one of my favorites: BEAS Systems Inc. (BEAS) 26 3/8 +1 3/4: distributor of mission-critical middleware solutions posts a Q3 operating net of $0.07 a share, a penny below the Zacks mean estimate, vs year-ago profit of $0.04 a share. Company notes that the continued slowdown in Asia and worsening economic environment in the U.S. and Europe is lengthening the enterprise software sales cycle. BEAS shares indicated 14 pts lower this morning