DJIA 9879.41 -51.06 (-0.51%) S&P 500 1297.82 -8.54 (-0.65%) Nasdaq 2428.97 -10.30 (-0.42%) Russell 2000 398.43 -0.74 (-0.19%) 30-Year Bond 96 10/32 -13/32 5.50 Yield
Frontier Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: FRO)") else Response.Write("(NYSE: FRO)") end if %>, a facilities-based provider of local and long-distance telecommunications services to businesses, jumped $5 7/8 to $50 1/2 after agreeing to be acquired by international fiber optic network operator Global Crossing <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: GBLX)") else Response.Write("(Nasdaq: GBLX)") end if %> in a stock swap valued at about $11.2 billion. Besides gaining Frontier's 20,000 route miles of fiber in the U.S. and its competitive local exchange carrier (CLEC) business, Global Crossing is picking up Frontier's growing GlobalCenter unit, which hosts such popular websites as Yahoo! <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: YHOO)") else Response.Write("(Nasdaq: YHOO)") end if %>, Lycos <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: LCOS)") else Response.Write("(Nasdaq: LCOS)") end if %>, and Excite <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: XCIT)") else Response.Write("(Nasdaq: XCIT)") end if %>. In a conference call today, Frontier CEO Joseph Clayton said GlobalCenter is "doing nothing but growing." With much of the globe just starting to get online, that growth should continue as Global Crossing exports Frontier's Web hosting expertise around the world on its expanding fiber network.
Automotive fuel cells developer Ballard Power Systems <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: BLDPF)") else Response.Write("(Nasdaq: BLDPF)") end if %> revved $5 3/8 higher to $34 5/16 today after DaimlerChrysler <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: DCX)") else Response.Write("(NYSE: DCX)") end if %> unveiled its fourth prototype for an environmentally friendly car with Ballard hydrogen fuel cells. Even though the zero-emission car's unveiling had absolutely zero effect on Ballard's business fundamentals, any news that coaxes the media spotlight back on the future of electric vehicles (EV) in this country is a positive for the company. Recently, EV development has taken a back seat at the Big Three, which are ironically reaping big profits from such environmentally unfriendly vehicles as jumbo- engined pick-up trucks and aircraft carrier-sized sport utility vehicles. But with only two years remaining before the stringent car emission standards set by the California Air Resources Board are scheduled to take effect, Ballard is hoping EV development is ready to kick into a high gear and start driving its revenues higher.
QUICK TAKES: Farm and heavy construction machinery manufacturers got a boost today as Salomon Smith Barney raised its ratings on companies throughout the barnyard. Among the big winners, Deere & Co. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: DE)") else Response.Write("(NYSE: DE)") end if %> plowed $3 3/8 higher to $36 1/2, Caterpillar <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CAT)") else Response.Write("(NYSE: CAT)") end if %> crawled ahead $3 1/4 to $47 1/4, Case Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CSE)") else Response.Write("(NYSE: CSE)") end if %> rose $2 7/16 to $24, New Holland <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NH)") else Response.Write("(NYSE: NH)") end if %> added $3/8 to $9 7/16, and AGCO <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AG)") else Response.Write("(NYSE: AG)") end if %> gained $1/2 to $6 9/16... Media streaming technologies developer RealNetworks <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: RNWK)") else Response.Write("(Nasdaq: RNWK)") end if %> gained $6 to $121 after launching an enhanced version of its RealGuide directory of "live" Internet audio and video events... Online services conglomerate America Online <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AOL)") else Response.Write("(NYSE: AOL)") end if %> gained $4 1/16 to $109 after officially completing its merger with Internet software firm Netscape Communications <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NSCP)") else Response.Write("(Nasdaq: NSCP)") end if %>. Netscape rose $3 9/16 to $97 5/8 on its final day of trading as an independent company.
Quick-serve restaurant operator and franchiser Wendy's International <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: WEN)") else Response.Write("(NYSE: WEN)") end if %> picked up $2 to $29 1/4 after saying strong same-store sales gains will lead to fiscal Q1 EPS between $0.22 and $0.23 (excluding gains from real estate sales), topping the First Call mean estimate of $0.21... Car rental chain operator and franchiser Dollar Thrifty Automotive Group <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: DTG)") else Response.Write("(NYSE: DTG)") end if %> drove $2 3/8 higher to $14 9/16 after saying strong car rental demand will lead to Q1 EPS exceeding $0.15, beating the First Call mean estimate of $0.06... Motor home manufacturer Winnebago Industries <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: WGO)") else Response.Write("(NYSE: WGO)") end if %> rumbled $1 7/8 higher to $15 7/8 after posting fiscal Q2 EPS of $0.45, up from $0.18 a year ago and well ahead of the First Call mean estimate of $0.26.
Cement producer Southdown <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: SDW)") else Response.Write("(NYSE: SDW)") end if %> headed north and gained $2 7/8 to $49 5/8 after saying strong demand in February will result in Q1 EPS between $0.67 and $0.74 (including a $0.10 extraordinary gain), topping the First Call mean estimate of $0.48 (which the company said also included the gain)... Information technology consulting firm Ciber Inc. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CBR)") else Response.Write("(NYSE: CBR)") end if %> tacked on $3 3/8 to $22 3/8 after Merrill Lynch reinstated coverage of the firm with a near-term "buy" rating. Credit Suisse First Boston also reportedly got in on the act by raising Ciber's fiscal 2000 earnings estimate to $1.29 per share from $1.25 per share... Internet advertising firm 24/7 Media <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: TFSM)") else Response.Write("(Nasdaq: TFSM)") end if %> gained $2 3/4 to $30 3/4 after announcing an exclusive three-year agreement to form an advertising sales force with General Electric's <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: GE)") else Response.Write("(NYSE: GE)") end if %> NBC-Interactive Neighborhood unit targeting the convergence of TV and the Internet at the local level.
Network software developer Novell <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NOVL)") else Response.Write("(Nasdaq: NOVL)") end if %> was lifted $1 15/16 to $26 after Merrill Lynch raised its long-term opinion of the company to "buy" from "accumulate"... Application software development products supplier Progress Software <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: PRGS)") else Response.Write("(Nasdaq: PRGS)") end if %> rose $2 9/16 to $32 9/16 after reporting fiscal Q1 EPS of $0.35, up from $0.19 a year ago and ahead of the First Call mean estimate of $0.26. Additionally, the company said its Progress Apptivity unit has been selected to handle Web portal Yahoo!'s <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: YHOO)") else Response.Write("(Nasdaq: YHOO)") end if %> advertising order entry process... Therapeutic and diagnostic medical systems developer Sabratek Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: SBTK)") else Response.Write("(Nasdaq: SBTK)") end if %> advanced $3/4 to $18 1/4 following an upgrade late yesterday from Credit Suisse First Boston to "buy" from "hold."
Industrial water treatment systems and products maker U.S. Filter <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: USF)") else Response.Write("(NYSE: USF)") end if %> flowed $4 7/8 higher today to $29 7/8 on speculation that the company is a takeover target... Vitamins and nutritional supplements maker Rexall Sundown <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: RXSD)") else Response.Write("(Nasdaq: RXSD)") end if %> gained $2 7/16 to $22 11/16 after saying it has completed its $100 million share buyback program and has authorized another $100 million repurchase program... Fiber optic communications services firm Metromedia Fiber Network <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: MFNX)") else Response.Write("(Nasdaq: MFNX)") end if %> added $5 5/16 to $53 15/16 after posting fiscal 1998 earnings of $0.01 per share compared to a loss of $0.56 per share a year ago... Online investor research provider Multex.com Inc. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: MLTX)") else Response.Write("(Nasdaq: MLTX)") end if %> traded up $19 5/8, or 140.18%, to $33 5/8 on its first day of trading following an initial public offering of 3 million shares at a price of $14 per share.
Saks Fifth Avenue parent Saks Inc. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: SKS)") else Response.Write("(NYSE: SKS)") end if %> retreated $1 1/2 to $27 7/16 after it said it is "comfortable" with 1999 earnings guidance of $2.10 to $2.25 a share, down from previous forecasts of $2.20 to $2.25. The new low-end estimates reflect year-over-year EPS growth of 29% -- instead of the 35% originally projected -- down from the 31% posted this year following yesterday's report of fiscal Q4 EPS of $0.97 (before charges), up from $0.77 a year ago and in line with analysts' estimates. Revenue growth will probably slow slightly to between 10% and 13% from 13% last year. This will be the first full fiscal year of operations for the company incorporating Proffitt's -- the companies merged in September in a deal some doubtful observers likened to the Beverly Hillbillies sitcom as a pairing of upper-crust Saks and down-home Proffitt's. Skipper Brad Martin, formerly of Profitt's, is calling for merger-related synergies of $115 million in 1999 and $150 million in 2000, up from $50 million last year.
Remember all the publicity online services provider America Online <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AOL)") else Response.Write("(NYSE: AOL)") end if %> received when the media jumped on the opportunity to call its overworked circuits a sign of weakness? The company instead spun the story into a tale of booming demand for its product -- which is exactly what online fax-to-email services firm eFax.com <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: EFAX)") else Response.Write("(Nasdaq: EFAX)") end if %> appears to be attempting this week. The company's shares dipped today, losing $3 1/8 to $22 1/4, but they're still up more than 75% this week -- rising as high as $33 yesterday -- following Monday morning's announcement of plans to provide its services to members of Xoom.com's <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: XMCM)") else Response.Write("(Nasdaq: XMCM)") end if %> online community. Today, eFax.com said demand for its service has maxxed out its available fax numbers, creating a backlog the company hopes to work through by the end of next week. "The response from consumers... has been tremendous," chirped President Rob Pollock. eFax.com also today named Robert Pollock, former CEO of domain name services provider NameSecure.com, its president and COO.
QUICK CUTS: American Airlines parent company AMR Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AMR)") else Response.Write("(NYSE: AMR)") end if %> slid $3 1/2 to $57 1/2 today. After the bell, the company said it expects Q1 EPS of between $0.30 and $0.35, missing the Street's $0.65 consensus estimate... Housewares retailer Williams-Sonoma <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: WSM)") else Response.Write("(NYSE: WSM)") end if %> cracked $7 to $29 after reporting Q4 EPS of $0.75 per diluted share for the fourth quarter, beating $0.61 for the same period a year ago but a penny off Street projections... Online brokerage leader Charles Schwab Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: SCH)") else Response.Write("(NYSE: SCH)") end if %>, which reportedly went offline for about 15 minutes this morning, lost $2 1/16 to $86 7/16 today.
Internet access and business services provider FlashNet Communications <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: FLAS)") else Response.Write("(Nasdaq: FLAS)") end if %> dimmed $3 1/2 to $40 1/8 after flashing up $26 5/8 yesterday in the company's first day of trading... Machine tools maker Bridgeport Machines <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: BPTM)") else Response.Write("(Nasdaq: BPTM)") end if %> lost $1 1/8 to $7 after saying it will consider yesterday's offer from High Technology Holding Corp. to buy 2.5 million shares at $10 1/8 per share... Online retailing giant Amazon.com <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: AMZN)") else Response.Write("(Nasdaq: AMZN)") end if %> gave up $2 13/16 to $131 today. The company reportedly gave Foote, Cone & Belding, its advertising agency, 30 days' notice to improve performance on the account. Foote Cone is a division of True North Communications <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: TNO)") else Response.Write("(NYSE: TNO)") end if %>.
Investment banking firm Donaldson, Lufkin & Jenrette <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: DLJ)") else Response.Write("(NYSE: DLJ)") end if %> slumped $3 1/16 to $65 3/4 following the news that it filed a preliminary registration statement with the SEC for an initial public offering of a new tracking stock for DLJdirect, its online brokerage business... Network switching systems company Tekelec <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: TKLC)") else Response.Write("(Nasdaq: TKLC)") end if %> fell back $2 13/16 to $7 15/16 after saying last night that Q1 EPS is seen coming in below the year-ago $0.10 profit as new business growth has slowed beyond the usual seasonal slowing typical of the quarter. Five analysts surveyed by First Call currently provide a consensus $0.11 projection... Polyurethane and polymer foam products manufacturer Foamex International <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: FMXI)") else Response.Write("(Nasdaq: FMXI)") end if %> bubbled off $2 7/32 to $5 11/32 after it said it expects to report a Q4 loss of $1.37 per share, down from last year's $0.96 loss. The company hired J.P. Morgan to help examine strategic alternatives and named former Safety-Kleen CEO John Johnson Jr. CEO.
Automotive supplier Lear Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: LEA)") else Response.Write("(NYSE: LEA)") end if %> slowed $3/8 to $36 after announcing that it will acquire United Technologies Corp.'s <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: UTX)") else Response.Write("(NYSE: UTX)") end if %> UT Automotive Inc. subsidiary, a maker of electrical and electronic products, for $2.3 billion... Electronic manufacturing services company Plexus Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: PLXS)") else Response.Write("(Nasdaq: PLXS)") end if %> slid $3 7/16 to $29 3/4 after agreeing to buy advanced commercial and medical electronic instruments designer and manufacturer SeaMED Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: SEMD)") else Response.Write("(Nasdaq: SEMD)") end if %> for between $12 and $15 per share. Yesterday's close was $7 11/16 a stub. SeaMED, which grabbed $2 9/16 to $10 1/4 today, also pre-announced EPS of between $0.03 and $0.06 before items for the quarter ending March 31, compared with First Call's four-analyst $0.16 consensus estimate.
Online software retailer Beyond.com <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: BYND)") else Response.Write("(Nasdaq: BYND)") end if %> lost $1 5/8 to $22 3/4 after announcing plans to sell an additional 4 million shares to the public, boosting its total outstanding shares by about 15%... Enterprise information portal developer Alydaar Software <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: ALYD)") else Response.Write("(Nasdaq: ALYD)") end if %> gave back $1 7/16 to $6 11/16 after saying it expects a Q1 loss of $500,000 to $1 million. Q4's loss was $0.17 per share, compared with breakeven a year ago... Business forms, checks, and other printed products marketer New England Business Service <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NEB)") else Response.Write("(NYSE: NEB)") end if %> dropped $4 1/16 to $26 3/16 after the company said fiscal Q3 EPS is seen coming in between $0.44 and $0.46, missing Wall Street's $0.50 consensus estimate.
AmerUs Life Holdings <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: AMH)") else Response.Write("(NYSE: AMH)") end if %> lost $1 5/8 to $23 1/16 after adding $1 13/16 yesterday as controlling shareholder American Mutual Holding Co., a mutual insurance holding company, said it authorized management to review the potential benefits of a demutualization... Telephone and Internet travel reservations company 800 Travel Systems <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: IFLY)") else Response.Write("(Nasdaq: IFLY)") end if %> dropped $1/2 to $7 3/16 after adding $2 1/2 yesterday in heavy trading on reporting fourth-quarter earnings of $0.04 per share, twice the estimate one analyst gave First Call... Internet venture capitalist Safeguard Scientifics <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: SFE)") else Response.Write("(NYSE: SFE)") end if %>, which this morning announced a 20% stake in Ohio's Extant Inc., an extranet and virtual private network provider, shed $5 3/16 to $54 5/16. The stock gained yesterday $11 5/16 following comments by CEO Warren Musser on CNBC that the company expects strong growth this year at its five or six companies currently "poised to go public."
FOOL
ON THE HILL
An Investment Opinion
by
Louis Corrigan
Safeskin's Lessons: Being Safe Not Sorry
Last week's earnings warning from Safeskin <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: SFSK)") else Response.Write("(Nasdaq: SFSK)") end if %>, a leading maker of high-quality disposable latex and synthetic medical examination gloves, was a long time coming. The stock had already drifted from $47 1/8 in July to Thursday's close of $18. Still, it was skinned for another 50% loss on Friday and now trades for just $8 3/4. Only a month ago, the company reported its tenth consecutive year of 25% or better growth in revenue, and Chair/CEO Richard Jaffe projected a record FY99. So it's hard to say that one should have avoided -- or even profited from -- the recent massacre. Still, some did, and it's worth highlighting why.
First, a quick review of what's made the once incredibly profitable Safeskin so unsafe looking.
On February 10, the company reported that Q4 sales rose 27% to $63.6 million and EPS followed, up 30% to $0.27 after backing out one-time expenses related partly to relocating a glove-making facility from Malaysia to Thailand. For the year, revenue roared ahead 30% to $237.1 million, pumping EPS up 43% to $1.00. Thanks to a sales mix rich with high-margin synthetic gloves and lower manufacturing expenses, gross margins for the quarter and the year shot up from 44% to 52%. Though juiced up by $92 million in new long-term debt, Safeskin's return on average equity came in at a slick 52.8%.
Then came the warning late last Thursday. Due to "higher than estimated distributor inventory levels and [a] slower-than-anticipated ramp up of orders from new customer contracts," management now sees first quarter sales falling a stunning $28 million below analyst estimates. Earnings per share will slip $0.25 to $0.26 shy of the consensus estimate, which stood at $0.27 before the announcement. For the year, Jaffe said sales "will be lower by approximately an additional $25 million."
At the end of the third quarter, Safeskin delivered extra product to distributors to support an expected increase in sales. "As it turns out," Jaffe said, "there was more inventory in the system at that time than we had previously estimated." Trouble is, the company's critics were all over this problem back in October.
A Once-Friendly Analyst Dissents
We know that sell-side analysts operate under a serious conflict of interest because they get compensated more for the investment banking work they bring to their firms than for the investment value of their opinions. So we place mental asterisks next to bullish comments made by a company's underwriter and pay more attention to the opinions of more disinterested parties. Yet, we also know that sell-side analysts in general don't like to veer from the pack, especially by going negative.
That's why the move on October 29 by analyst Melissa Wilmoth of Salomon Smith Barney (SSB) merited serious attention. Wilmoth downgraded Safeskin from "buy-high risk" to "neutral-high risk" and cut her FY99 EPS estimate to $1.22 from $1.29. SSB took Safeskin public. Yet here Wilmouth was worrying aloud about Safeskin stuffing its sales channel.
When a company is having trouble making its sales number for a quarter, it may offer resellers or customers discounts or favorable payment terms to accept product they don't yet need, even if that steals sales from future quarters. As Wilmoth told her clients in late October, one large distributor had gotten very favorable terms for the first time in a year.
Jaffe and his colleagues denied this. Yet, the wacky balance sheet raised serious questions. Accounts receivable (what the company is owed by customers) rose 89.7% year-over-year and 61.1% sequentially despite just 31.3% higher year-over-year sales and just a 5% sequential revenue gain. Sales were being booked, but distributors just weren't paying as quickly as they usually did. Rising inventories (up 56.8% year-over-year and 11.6% sequentially) added to the picture of channel stuffing. It was enough to make a shareowner wonder whether the industry was slowing down or competition heating up.
Yet, Jaffe asserted that inventories had been too low earlier and that the transition to the new facility in Thailand caused the normal sales cycle to be delayed somewhat, creating merely a short-term increase in receivables. However, as Wilmoth argued in her research note, "These concurrent trends are a classic sign of potential trouble." Boy, was she right!
Accounts Receivable and Inventories Increase Faster Than Sales
The following table shows this enormous sequential increase in receivables and inventory for the third quarter. Though many businesses experience seasonal patterns that make year-over-year comparisons more appropriate, true growth stocks often are expected to deliver stronger sales from one quarter to the next. (Expand window to view table.)
Sales Y/Y Seq. AR Y/Y Seq. Inv. Y/Y Seq. Q2 58.6 30.5% 10.0% 24.9 13.0% -2.7% 31.2 47.6% 17.9% Q3 61.6 31.3% 5.0% 40.1 89.7% 61.1% 34.8 56.8% 11.6% Q4 63.6 27.2% 3.3% 37.7 69.7% -6.0% 35.5 67.0% 1.8% Y/Y= year-over-year Seq.= quarter vs. previous quarter AR = accounts receivable Inv.= inventories Sales, receivables and inventories in millions
(Short ratio = shares short divided by average daily trading volume; also called "days to cover")
The List of Shorts Grows Long
Month Shares Short Short Ratio
6/98 2.98 million 8.64
7/98 .21 million 6.73
8/98 3.29 million 7.65
9/98 3.57 million 7.44
10/98 3.30 million 5.97
11/98 4.16 million 1.72
12/98 4.95 million 3.50
1/99 5.08 million 5.31
2/99 6.77 million 6.05
Falling Price on Rising Volume and No News
Day Volume High Low Close
03/04/99 357,000 22 1/16 21 1/2 21 3/4
03/05/99 872,500 22 20 1/2 20 11/16
03/08/99 1,705,600 21 19 5/8 19 7/8
03/09/99 2,445,100 19 13/16 17 13/16 19 1/4
03/10/99 2,929,800 19 7/8 17 15/16 18
03/12/99 24,838,600 9 15/16 8 9
Please see the Motley Fool's Conference Calls page for call information and links to synopses.
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Contributing Writers Brian Graney (TMF Panic), a Fool David Marino-Nachison (TMF Braden), a new Fool
Editing |