Tech shares downgrade by analysts; as big Nasdaq rally continues, managers are urging caution

Article Abstract:

Financial analysts are urging caution in the midst of a huge technology-stock rally. On Friday, Jan 15, 1993, Intel Corp fell 1 point to 111.75, Apple fell 4.75 to 60.25 and Microsoft Corp fell 1.5 to 89.75. Mabon Securities reduced its rating on Apple from 'buy' to 'hold' while Lehman Brothers, Donaldson Lufkin and Jenrette and Alex. Brown and Sons all slightly lowered their FY 1993 earnings estimate for Microsoft. Despite the success of high-profile stocks, some smaller firms are not doing so well. Wellfleet Communications's stock fell 3.75 to 41.75, even though its earnings for the quarter ending Dec 31 were up to 19 cents. A flood of initial public offerings in Jan 1993 could end the boom market in technology stocks. There remain compelling reasons both to buy and sell technology stocks.

Computer software industry, Computer industry, Software industry, Securities, Forecasting, Stock markets, Stock Market, Market Value, Industry Analysts

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H&R Block still shopping on-line unit

Article Abstract:

H&R Block is having a difficult time selling off its 80% share of CompuServe. America Online had attempted to acquire CompuServe in Apr of 1997. The rival company has tried to purchase the company again, offering H&R Block a stock swap valued at approximately $1 billion, but H&R Block has turned AOL's offer down. There has been a significant lack of interest in the online company despite the fact it was once the world's largest online service. CompuServe's subscriber base has been dwindling and with it the company's profits. The Company posted a loss of $119.8 million for its fiscal year ended Apr 30, 1997 compared to the prior year's profit of $49.1 million. CompuServe's European membership grew in its fiscal fourth qtr by almost 20,000 subscribers to a 892,000.

Telegraph & other communications, Finance, Internet service providers, Online services, Internet services, Company investment, Investments, Internet service provider, HRB, H&R Block Inc., CompuServe Corp., CSRV

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