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Technology Stocks : 3DO: Hot Games for Hot Machines (THDO) -- Ignore unavailable to you. Want to Upgrade?

To: Magnifique who wrote (3458)	1/21/1999 7:33:00 AM
From: Anthony Wong	Read Replies (1) \| Respond to of 4081

Bloomberg: 3DO Shares Rise on Expectations for Increased Online Game Sales Bloomberg News January 20, 1999, 6:06 p.m. ET 3DO Shares Rise on Expectations for Increased Online Game Sales Redwood City, California, Jan. 20 (Bloomberg) -- 3DO Co. shares rose 50 percent on optimism that the maker of Internet and computer games will benefit from increasing online sales. 3Do rose 2 5/32 to 6 1/2 in trading of 9.24 million shares, more than 33 times the three-month average. Earlier the shares touched a 12-month high of 7 3/16. Wedbush Morgan Securities analyst James L. Lin reiterated his ''buy'' rating on the company today, saying customers are snapping up 3DO's ''Battle Tanks'' game for Nintendo Co.'s Nintendo 64. Lim estimated 85,000 to 100,000 units have been sold in the first three weeks since its release, and he expects that to rise to 350,000 to 400,000 units. ''You're going to see a ramp up in products and a ramp up in top line starting now,'' said Lin. ''You'll see a lot more steady and consistent product flow.'' The company, which sells games including ''Meridian 59,'' ''Heroes of Might and Magic'' and ''Army Men,'' recently began selling all of its products on its Web site, www.3do.com, and many of its games can be played online. Customers can also get news on the Internet about 3DO's soon-to-be-released games and meet other game enthusiasts. 3DO is ''comfortable'' with analysts' forecasts that it will lose $7 million to $9 million, or 31 cents to 33 cents a share, in the third quarter, Chief Financial Officer John Adams said. Adams said the company expects to sell 14 or 15 game titles this fiscal year, up from 3 in fiscal 1998. --Jonathan Make in the Princeton newsroom (609) 279-4065 mos