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To: wlheatmoon who wrote (27193)	3/23/1999 4:50:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 86076

I was wondering why my putter, WCOM took pipe today. Got a clue here: Shares of BellSouth fell 2 5/8 to 42 15/16 after the company told analysts that first and second quarter earnings would be lower than most analysts had anticipated, though the company said it still expects to reach earnings targets for the full year. A Goldman, Sachs & Co. analyst cut his first- quarter earnings estimates to 45 cents per share from 47 cents. Other telecommunications also fell. Ameritech fell 2 7/16 to 61 11/16 and Bell Atlantic fell 1 3/16 to 51 13/16. Analysts say they expect to more earnings warnings in the coming days as companies prepare to release their quarterly results. Investors are worried, they said, that such companies as Compaq Computer may announce similar shortfalls after market-research firm PC Data said February retail PC revenue fell 16%. Investors also are waiting to hear Tuesday from 3Com, due out after the close of trading. The company had earlier warned that earnings would disappoint. Further adding to the discomfort was Merrill Lynch & Co.'s decision to pare its earnings estimates for Coca-Cola, one of the 30 Dow industrials. A Morgan Stanley Dean Witter analyst also made cautious remarks about the beverage giant, and its shares slipped 2 3/8 to 65 5/16. "Coca-Cola's earnings haven't grown in three years, yet its stock is three times higher," said Richard Cripps, chief market strategist at Legg Mason Wood Walker. "That's the kind of thing the market has to deal with now."