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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: TEDennis who wrote (13628)	1/23/1999 6:28:00 PM
From: Cosmo Kramer	Respond to of 13949

Here's a new's brief: RESEARCH ALERT - Y2K revenue worries "overblown" NEW YORK, Jan 22 (Reuters) - Concerns about a slump in demand for services to aid in fixing Year 2000 computer bug problems are unfounded, and should not hurt earnings of Y2K software companies, Warburg Dillon Read said Friday. Warburg analyst Matthew Gershuny said those concerns weighed down shares of Keane Inc. (AMEX:KEA - news) and Computer Horizons (Nasdaq:CHRZ - news) on Thursday. Computer Horizens dipped 24 percent to 20-3/8, while Keane shares fell by about 8 percent to close at 34-9/16. -- Gershung, in a research note, said the concerns are unjustified, citing a study that said corporations have so far spent far less than 50 percent of their Y2k budgets. yet to -- ''This represents a potential surge in demand for Y2K revenues during 1999, followed by gradual declines in the year 2000,'' he said. -- said Computer Horizons in its third quarter reduced Y2K contributions to overall revenues to 27 percent from 30 percent, while improving margins. -- reiterated strong buy rating and $45 price target on Computer Horizons and buy rating and $50 target on Keane. -- shares of Keane rose Friday afternoon to 36-1/4, up 1-11/16. Computer Horizons shares fell 3/8 to 20.