/FIRST AND FINAL ADD -- DCF014 -- ROBERTSON STEPHENS

                            DAILY GROWTH STOCK UPDATE/        Comments:        Alza Corp.      (NYSE: AZA) $38.69      Buy        Robert Hazlett, Large Capitalization/Specialty Pharmaceuticals    "After yesterday's close, Alza reported 4Q00 EPS of $0.25 (normalized,  ex-charges) vs. $0.13, an 88% increase, a penny ahead of our estimates and  consensus," said Hazlett. "Our 2001 and 2002 EPS estimates remain unchanged at  $1.02 and $1.25, respectively. With exceptional growth prospects that we see  for Concerta in the near term and its strong technology platform over the long  term, we expect significant and sustainable strong sales and above 20% EPS  growth for Alza.  A near-term catalyst for AZA shares may be the company's  upcoming analyst meeting on February 27.  We reiterate our Buy rating on AZA  shares."           Biomet, Inc.      (Nasdaq: BMET) $33.25      Buy        Wade King, Medical Technologies    "We believe that the shares of Biomet offer an excellent opportunity this  year for investors seeking superior returns with controlled risk," said King.  "We believe the company's fundamentals remain solid, with good, consistent  growth prospects going forward. Based on a 30x multiple on our estimated C2002  EPS of $1.48, our year-end price target is $45. We believe this offers  investors in Biomet at current levels the opportunity for over 35% ROI in a  mid-cap, premier medical technology company. Our rating on Biomet is Buy."           Cash America International, Inc.      (NYSE: PWN) $6.00      Long-Term Attractive        Jordan Hymowitz, eCredit & Lending/I-Auto      Justin Hughes, Financial Services    "Cash America reported 4Q00 EPS from lending operations of $0.21, $0.01  better than our estimate," said Hymowitz and Hughes. "Including losses at  subsidiaries, PWN reported 4Q00 EPS of $0.13, $0.01 below our estimate. We  believe Cash America is one of a few companies that would benefit in a  recession. Higher unemployment rates and lower disposable income could  revitalize demand for pawn loans and the company, through its low loan  balances and merchandise, is well positioned should demand recover, in our  view. We continue to rate PWN shares Long-Term Attractive."           CSG Systems International, Inc      (Nasdaq: CSGS) $45.75      Long-Term Attractive        Marianne Wolk, Wireless Data/eCommunications    "CSG reports revenues and EPS slightly ahead of our forecasts, but a $13mm  boon in software revenues ($50mm for the full year) resulting from its  arbitration agreement with AT&T (October 11th) contributed $0.08-$0.14 to EPS  this quarter, offsetting weak processing fees," said Wolk. "Putting its  balance sheet to work, the company extended payment terms to long-standing  customers like AT&T Broadband. We remain cautiously optimistic as CSG pursues  greater growth through diversification.  CSG continues to invest heavily in  its international business targeting cable and DBS customers in Europe, Latin  America, and the Asia Pacific region.  After responding to at least 8 RFPs  last quarter (making 5 short lists), CSG should report some international wins  Q1."           Eli Lilly and Company      (Nasdaq: LLY) $82.38      Buy        Robert Hazlett, Large Capitalization/Specialty Pharmaceuticals    "Lilly reported 4Q00 EPS of $0.70 vs. $0.61, a 15% increase, in line with  consensus but a penny below our estimates," said Hazlett. "Our 2001 and 2002  EPS estimates remain unchanged at $2.88 and $3.20, respectively. LLY shares  will likely continue to be driven by the emergence of its pipeline that  currently has 10 compounds in late-stage clinicals or currently awaiting  registration, in our view.  Zovant's (sepsis) Prowess trial data will be  presented on February 11, and the compound should be filed and approved in  3Q01.  We believe other significant events upcoming in 2001 include filings  for tomoxetine for attention deficit/hyperactivity disorder (ADHD), Cialis for  erectile dysfunction and possibly duloxetine for depression.  We continue to  rate LLY shares Buy."           Regeneron Pharmaceuticals, Inc.      (Nasdaq: REGN) $36.69      Buy        Michael King, Biopharmaceuticals    "Last night, REGN reported 4Q:00 results," said King. "EPS was ($0.23)  versus our ($0.29) estimate. For FY2000, EPS was ($0.61) versus our ($0.66).  After adjustments for SAB-101, loss for the year will be restated as ($0.65).  REGN plans to start a Phase III trial for Axokine in the treatment of obesity  and bring three additional compounds into the clinic in 2001 (VEGF trap, IL-  4/IL-13 trap, and pegylated Axokine). We believe the trap program will gain  more visibility in the coming year and investors will recognize the potential  of this approach to treating disease. REGN remains one of our favorite stocks  for 2001 and we reiterate our Buy rating."           Schering-Plough Corporation      (NYSE: SGP) $53.63      Market Performer        Robert Hazlett, Large Capitalization/Specialty Pharmaceuticals    "Yesterday Schering-Plough reported 4Q00 EPS of $0.39 vs $0.34, a 15%  increase, in line with both our expectations and consensus," said Hazlett. "We  are maintaining our full-year 2001 estimates of $1.91 for the company.  We  continue to rate shares of SGP Market Performer. With slower prescription  growth for its two key franchises (allergy and hepatitis C) and competition on  the horizon for its pipeline products (DCL and PEG Intron A) that will replace  those existing franchises, we believe additional market share gains will  likely be achieved through substantial marketing expense for the company,  especially if desloratadine is approved without a meaningful marketing  advantage in its label."           Sepracor Inc.      (Nasdaq: SEPR) $73.44      Buy        Robert Hazlett, Large Capitalization/Specialty Pharmaceuticals    "Last night, Schering-Plough announced that on January 19, 2001, it  received an approvable letter from FDA for desloratadine (DCL) for allergies,"  said Hazlett. "DCL is the heir-apparent to Schering's blockbuster allergy  therapy Claritin.  Sepracor will receive low-single-digit royalties on  revenues for DCL, increasing to mid-single digits upon reaching certain  milestones. This announcement has been long awaited, as desloratadine's  original tentative PDUFA date was thought to be Oct. 26, 2000.  We believe  this announcement serves as a validation of Sepracor's drug discovery  technology, and will likely assuage investor concern that has been in  existence since the development of one of its out-licensed products was halted  (r-fluoxetine). We believe this is one of several significant near-term  significant positive events for Sepracor, including an announcement of final  DCL approval in the US, and a potential February filing for norastemizole,  Sepracor's own allergy drug.  We reiterate our Buy rating on SEPR shares."           SpeechWorks International Inc.      (Nasdaq: SPWX) $41.94      Buy        Marianne Wolk, Wireless Data/eCommunications    "SpeechWorks reported 4Q results of $10.6MM and ($0.17), both above our  $9.6MM and ($0.20) estimates," said Wolk. "License sales of $6.1MM well  exceeded our $5MM estimate, resulting in better than expected gross margins of  71% (vs. our 68% estimate).  The cash balance remained healthy at $113.6MM,  while DSOs increased 10 days to 75, but stayed below the expected range of 80-  85 days. We believe SpeechWorks' rocketing valuation and the pending increase  of its float could leave it vulnerable near-term.  We size the supply coming  to market at perhaps 1-3MM of the 18MM shares to be released, assuming the  stock due next week is mainly held by officers (approx. 5MM shares) that are  subject to Rule 144 volume restrictions and VCs (approx. 11MM).  In light of  SpeechWorks' strong Q4 results, solid momentum and visibility, we continue to  support the long-term fundamentals of the company and the voice industry. In  our view, SpeechWorks is a solid long-term investment for those wishing to own  a pure player in the rapidly evolving voice industry and any weakness related  to the increase in its float should represent a good entry point for  investors."           Station Casinos, Inc.      (NYSE: STN) $13.25      Long-Term Attractive        Harry Curtis, Gaming & Lodging      Smedes Rose, Gaming & Lodging    "We are maintaining our 2001 EPS estimate of $0.88 for Station Casinos,  but we are adjusting our quarterly estimates for the year," said Curtis and  Rose. "We expect EPS will be lower in the first half of the year, accelerating  into the second half. In 1Q:01 our estimate declines to $0.20 from $0.28, and  in 2Q our estimate declines to $0.22 from $0.24. For the second half of the  year our estimates increase, and 3Q:01 goes to $0.22 from $0.17, with 4Q  increasing to $0.24 from $0.22."           Industry Updates:        Q4:00 Real Estate Equities Earnings Preview & Investment Outlook        Jay Leupp, REITs/REOCs/Real Estate Services      Paul Penney, REITs/REOCs/Real Estate Services    "For the Q4:00 earnings season, we expect most REITs and REOCs to post  modestly positive results, with annual (Q4:00 over Q4:99) FFO/share growth of  8.9%,  driven by average same store NOI growth of 4.5%, external growth of  1.5-2.0%, and the effect of financial leverage adding 2.0%-3.0%," said Leupp  and Penney. "We are expecting above-average same store NOI growth in the  apartments, office and lodging sectors, average same store NOI growth in the  self-storage sector, and below-average NOI growth in the manufactured home  community, industrial and retail sectors."     The Web Report - Volume 4, Issue #4   Robertson Stephens Internet analysts highlight certain industry trends and  company news. http://www.internetstocks.com     Unless otherwise noted, prices are as of Thursday, January 25, 2001.     Robertson Stephens maintains a market in the shares of Broadcom, PMC-  Sierra, Ceragon, Corvis, E.piphany, Excite@Home, Gilead Sciences,  Homestore.com, Kulicke & Soffa, LookSmart, Micrel, Multex.com, Network  Engines, Packeteer, Biomet, CSG Systems, Regeneron, Sepracor, and SpeechWorks  and has been managing or comanaging underwriter for or has privately placed  securities of Ceragon, Corvis, E.piphany, Homestore.com, Kulicke & Soffa,  LookSmart, Multex.com, Network Engines, Packeteer, and Regeneron  within the  past three years.   Robertson Stephens, Inc. and its international affiliates ("Robertson  Stephens") is the leading full-service investment bank focused exclusively on  growth companies. 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(Member NYSE), an affiliate of Robertson  Stephens, Inc., is the specialist that makes a market in  Alcatel, AutoNation,  Inc., Cabletron Systems, Inc., Cash America International, Inc., Catellus  Development Corp., CKE Restaurants, Inc., Computer Associates International,  Electronic Data Systems Corporation, Ethan Allen Interiors Inc., FelCor  Lodging Trust Inc., Foundation Health Systems, Inc., Harrah's Entertainment,  Inc., Hilton Hotels Corporation, The Home Depot, Inc., International Game  Technology, Jones Apparel Group, Inc., McDonald's Corporation,  The Men's  Wearhouse, MGM Mirage, Inc., National Semiconductor Corporation, Park Place  Entertainment Corporation, Public Storage Inc., Scientific-Atlanta Inc.,  Seagate Technology, Inc., Shurgard Storage Centers, Inc., Station Casinos  Inc., The Talbots, Inc., Tommy Hilfiger Corporation and Wal-Mart Stores, Inc.  and at any given time, Fleet Meehan Specialist may have an inventory position,  either "long" or "short," in this security.  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SOURCE  Robertson Stephens         (FBF)   CO:  Robertson Stephens; Broadcom Corporation; PMC-Sierra, Inc.; Ceragon          Networks; Corvis Corporation; E.piphany, Inc.; Excite@Home; Gilead       Sciences Inc.; HomeStore.com; Kulicke and Soffa Industries, Inc.;       LookSmart, Ltd.; Micrel, Incorporated; Multex.com Inc.; Network Engines,       Inc.; Packeteer, Inc.; STMicroelectronics N.V.; Alza Corp.; Biomet, Inc.;       Cash America International, Inc.; CSG Systems International, Inc.; Eli       Lilly and Company; Regeneron Pharmaceuticals, Inc.; Schering-Plough       Corporation; Sepracor Inc.; SpeechWorks International Inc.; Station     Casinos, Inc.; Fleet Meehan Specialist, Inc.  ST:  California  IN:  FIN  SU:  RTG  -0- Jan/26/2001 16:34 GMT    
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