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To: QuickTrade who wrote (36173)	12/30/1998 8:15:00 AM
From: judge	Read Replies (1) \| Respond to of 119973

Good news for GIII GIII confirms plans to launch Internet Web site, per Reuters: As 'Net fever mounts, some fear for market health Reuters, Tuesday, December 29, 1998 at 16:17 By Richard Melville NEW YORK, Dec 29 (Reuters) - Worry on Wall Street is mounting that Internet fever, a contagious but ostensibly benign condition marked by a sudden and severe swelling of share price, may mask an underlying malady, namely a return to the kind of speculation known to presage market downturns. "We're ending the second half very much like we ended up the first half, with a high degree of speculation and a general feeling of invincibility," said Charlie Crane, chief market strategist at Key Asset Management. "It sets us up for some sort of retracement. Whether that is as convulsive as the one in August was remains to be seen." Crane said the frenzy bears resemblances to some market manias of the past, but noted one difference that has extended and broadened its effects. "There have been periods where certain groups -- biotech was one -- have gotten superbly hot and when just a little news could create a huge move," he said. "But not everybody can set up a biotech subsidiary." In contrast, just about any company can launch a Web site, making for a much more egalitarian rally. Recent history indicates a well-publicized Web site launch, or even a hint one may be forthcoming, can lift a laggard from the discard pile. Most recently, SkyMall Inc. (NASDAQ:SKYM), an in-flight shopping catalog company, and Active Apparel Group Inc. (NASDAQ:AAGP), a designer and marketer of sportswear, soared Monday after Internet-related announcements. Neither is close to being a player on the Internet, nor is either company mulling a full-scale shift to Web-based sales. Nevertheless, shares of both shook off years of market underperformance and rocketed higher Monday and extended those gains Tuesday, SkyMall after reporting higher Web-based sales and Active Apparel after launching a Web site. Analysts warn that when sentiment reverses, the downturn is likely to be every bit as intense as the rally. "It's the biggest speculative bubble we'll ever see in our lives." J.P. Turner & Co. director of equity research Rick Berry said of the Internet spree. "All these companies are worth 30 percent of their market capitalization and within the next 12 months, you'll see a lot of these stocks trading at their IPO prices with everyone rushing to the exit doors." Oddly, investors just months ago got a lesson in how hard momentum stocks -- so dubbed because short-term traders latch on hoping to benefit from the wave of interest -- can fall. During the market tumble between mid-July and early September, losses in shares of Internet bellwether companies like Amazon.com (NASDAQ:AMZN) and America Online Inc. (NYSE:AOL) reached more than 30 percent, as the Dow Jones Industrial Average skidded some 19 percent. Of course, the share prices of those companies now stand at levels more than double their mid-July values, while the Dow has struggled to just barely exceed its old highs. To some degree, the Internet itself is acting as an enabler for the market's recent addiction. Market analysts point to day traders, many of whom are believed to be trading over the Internet, for intensifying the latest bidding war for stocks with a mere whiff of Internet potential. Shares of cruiser motorcycle maker Bikers Dream Inc. (NASDAQ:BIKR) more than doubled on word the company was close to announcing its electronic commerce plans. In addition to motorcycle production, the company operates a chain of stores where it sells its motorcycles, parts and accessories. Chairman and chief executive Herm Rosenman said on Tuesday that the company's previously disclosed plans to open up shop on the World Wide Web were a "run of the mill" approach to the Internet. Shares of Bikers Dream were up 4-1/16 to 6-5/8 late on Tuesday, a nearly 160 percent gain. And even the sketchiest of rumors of pending Web sites, spread of course on a variety of Internet stock chat boards, have become jet fuel for the next wave of Internet plays. One such stock, G-III Apparel Group (NASDAQ:GIII) surged about 300 percent on word the company was planning to launch an electronic commerce site. A spokesman confirmed the plans, which were the subject of extensive speculation on Internet chat postings early Tuesday. Copyright 1998, Reuters News Service

To: QuickTrade who wrote (36173)	12/30/1998 8:16:00 AM
From: judge	Respond to of 119973

GREAT NEWS for GIII NEW YORK, Dec 29 (Reuters) - Shares of G-III Apparel Group Ltd. (NASDAQ:GIII) on Tuesday joined the Internet frenzy sweeping Wall Street on word that the leather sportswear designer is planning to launch an electronic commerce site. G-III Apparel shares, the second most heavily traded stock on the Nasdaq, soared 317 percent to 8-7/8 during afternoon trading, way over its prior 52-week high of 6-7/8. It closed yesterday at 2-1/8. The site is currently under construction and can be visited at g3leather.com G-III, which calls itself the nation's largest supplier of leather outerwear, makes coats, jackets, pants and other sportswear clothing under its G-III, Siena, and Colebrook & Co. labels. Earlier this month, it posted $4.4 million, or $0.66 per share, in net earnings for its third quarter, down from $5.6 million, or $0.80 per share, from last year. Its 1997 revenues were $120 million.