no credit to me, this is from a pm. FRIEDMAN BILLINGS RAMSEY'S has idtc on its x-mas list.
FRIEDMAN BILLINGS RAMSEY'S 6TH ANNUAL CHRISTMAS WISH LIST
'Sleighs' the Indices
WASHINGTON, May 7 /PRNewswire/ -- The following is being issued by
Friedman, Billings, Ramsey & Co., Inc., a member of the National
Association of Securities Dealers, Inc., CRD# 25027:
Friedman Billings Ramsey Group, Inc. (NYSE: FBG) said today that the
performance of its Sixth Annual 1999 Christmas Wish List has thus far
exceeded both the S&P 500 index and the Russell 2000 index. Since the
firm published its 15-stock list on December 18, 1998, the Wish List
has appreciated an average of 25.4%.
During this same time period, based on December 17 and May 5 closing
prices, the S&P has appreciated 12.9% while the Russell 2000 has
appreciated 10.1%.
Martin Friedman, Director of FBR's Research Group said, "We are pleased
to share the results of our expanded research team. We have so far
bested the S&P 500 by 12.5% and the Russell 2000 by 15.3%. We chose
the diverse group of 15 Wish List companies based on their own
particular strengths and we're hopeful they will continue to outperform
the indices over the long term."
FBR's top-five-performing Wish List picks are IDT Corp. (Nasdaq: IDTC),
Styling Technology (Nasdaq: STYL), Fortune Brands (NYSE: FO), Johnstown
America (Nasdaq: JAII), Newfield Exploration (NYSE: NFX) and all of
which have appreciated more than 33% since December 17, 1998.
FBR has over 50 research analysts working in teams and focused on some
of the fastest-growing and most rapidly changing sectors of the
economy. These sectors include banking, thrifts, specialty finance,
technology, real estate, energy, insurance, industrial, high yield,
consumer products and general equities. The firm issues full research
reports on more than 430 publicly traded companies, as well as research
briefs, trend reports and daily economic and bond commentary.
FBR clients can access the full report on the Private Research area of
the firm's website, fbr.com. Other interested parties must
send a written request for the full report to:
FBR Christmas Wish List
Friedman, Billings, Ramsey
1001 Nineteenth Street North
Arlington, Virginia 22209
Friedman Billings Ramsey Group, Inc. is a publicly traded,
full-service investment banking firm. Asset management operations
include private investment partnerships, venture capital and private
equity partnerships, and the FBR family of mutual funds. Its wholly
owned subsidiary, Friedman Billings Ramsey & Co., Inc. (FBR) makes a
market in more than 400 securities and provides research coverage on
430 publicly traded companies. fbr.com is a division of FBR Investment
Services, Inc., a wholly owned subsidiary of Friedman Billings Ramsey
Group, Inc. and will provide access, as a selling group member, to IPOs
underwritten by FBR and others.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy these securities, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any state. From time to time, this firm, its affiliated
entities and/or their respective directors, officers, employees, and
members of their immediate families may have a long or short position
in the securities mentioned in this press release. These securities
may be sold to or purchased from customers or otherwise by this firm,
its affiliated entities, and/or its directors, officers, employees, or
members of their immediate families, as principal or agent
Friedman, Billings, Ramsey & Co., Inc. makes a market in the common
shares of the following companies: ADVANTA A (ADVNA), ADVANTA B
(ADVNB), BankAtlantic (BANC), Brookdale Living Communities (BLCI)*,
Diamond Technology Partners (DTPI), Guarantee Life (GUAR), IDT
Corporation (IDTC)**, Johnstown America (JAII), Styling Technology
(STYL)***
Friedman, Billings, Ramsey & Co., Inc. was manager/co-manager of public
offering of the following companies' securities within the last three
years: Brookdale Living Communities (BLCI)*, IDT Corporation (IDTC)**,
Styling Technology (STYL)***
Past performance is not indicative of future returns. Statements
concerning future performance, developments, negotiations or events,
concerning expectations for plans and objectives for future operations
or for growth and market forecasts, and any other guidance on present
and future periods, constitute forward-looking statements that are
subject to a number of factors, risks and uncertainties that might
cause actual results to differ materially from stated expectations.
These factors include but are not limited to the effect of demand for
public offerings, activity in the secondary securities markets,
available technologies, competition for business and personnel, and
general economic, political and market conditions.
* Friedman, Billings, Ramsey & Co., Inc. makes a market in the
common shares of Brookdale Living Communities. Friedman Billings
Ramsey & Co., Inc. managed/co-managed offerings of common stock in May
1997 (2 million shares), December 1997 (2 million shares) and November
1998 (2 million shares) for Brookdale.
** Friedman, Billings, Ramsey & Co., Inc. makes a market in the
common shares of IDT Corporation. Friedman, Billings, Ramsey & Co.,
Inc. managed/co-managed offerings of common stock in January 1998 (4.6
million shares), and private senior notes in February 1998 for IDT
Corporation.
*** Friedman, Billings, Ramsey & Co., Inc. acted as managing
underwriter in the initial public offering of Styling Technology
Corporation in November 1996, co-manager of a $100 million senior
subordinated notes offering in June 1998 and currently makes a market
in the securities. In addition, as a managing underwriter, Friedman,
Billings, Ramsey & Co., Inc. purchased, for nominal consideration, 101,
500 common stock purchase warrants which are exercisable at $12 per
share.
FBR Sixth Annual Christmas Wish List 1998-99
Price
Company Ticker 12/17/98 5/6/99
Performance
IDT Corp*= IDTC 13.88 26.31
89.6%
Styling Tech*= STYL 10.19 14.88
46.0%
Fortune Brands FO 31.75 44.44
40.0%
Johnstown America* JAII 12.88 17.50
35.9%
Newfield Exploration NFX 19.06 25.44
33.5%
Advanta A* ADVNA 10.44 13.31
27.5%
Advanta B* ADVNB 8.38 10.19
21.6%
Hudson United Bancorp. HU 28.50 34.63
21.5%
Diamond Technology
Partners* DTPI 18.06 21.38
18.4%
Washington Mutual WM 34.25 40.31
17.7%
Guarantee Life* GUAR 17.88 20.38
14.0%
Wells Fargo WFC 38.75 43.13
11.3%
BankAtlantic Bancorp. BBX 6.81 7.31
7.4%
BankAtlantic* BANC 7.69 7.75
0.8%
Brookdale Living
Communities*= BLCI 15.13 14.50
-4.2%
25.4%
S&P 500 SPX 1,180.00 1,332.05
12.9%
Russell 2000 RUT 393.78 433.38
10.1%
* FBR is a market maker
= FBR has served as manager/co-manager within the last three years
SOURCE Friedman Billings Ramsey Group, Inc.
-0- 05/07/99 /CONTACT: Investors - David
Allan, 703-469-1080, or Media - Melanie Nelson, 703-312-9623, both of
Friedman Billings Ramsey Group, Inc./
/Web site: fbr.com (FBG)
CO: Friedman Billings Ramsey Group, Inc. ST: District of Columbia
IN: FIN SU: |
