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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Maverick who wrote (4409)	1/29/1999 1:56:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 4509

Maverick, Street takes a dim view of companies missing estimates, and an even dimmer one of those restating earnings which is what PSFT said it may do for 1996, 1997, and 1998. 150 companies are involved in the issue of restatement, and it revolves around the fact that the SEC is pushing for retroactive restatements based on recently issued changes in accounting rules. This is quite different than, say, Cendant, which purposely misrepresented its expenses by improperly capitalizing marketing expenses, and over-stated revenues in one of its units. TTFN, CTC