Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Goldman Removes CNET Networks from Its Recommended List


Goldman Sachs removed CNET Networks (CNET) from the firm's Recommended List, and now rates the shares of the technology media company market outperform.

Analyst Tonia Pankopf remains cautiously optimistic that CNET should not miss by a wide margin her Q4 estimates of $123.6M in revenues and $0.10 EPS. However, given the slowing economy -- and the attendant softening market for advertising -- she cut her above-consensus $0.58 2001 EPS estimate to $0.33 and her $605.2M revenue forecast to $522.6M.

Pankopf still thinks CNET offers advertisers a cost-effective means to reach both consumer and corporate buyers throughout the information technology supply chain, but says the company cannot be immune from the recent deterioration in IT and ad spending. She downgraded the shares due to a likely slower first half of 2001, and a lack of second-half visibility in the IT and ad markets.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus