Bloomberg the Company

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

Follow Us

Industry Products

Markets & Finance

Goldman Downgrades FreeMarkets to 'Market Perform'


Goldman Sachs downgraded FreeMarkets (FMKT) to market perform from market outperform.

Analyst Chris DeBiase says despite improving customer metrics, some longer-term risks are beginning to unfold more quickly than he had anticipated. He says the company lowered its top-line revenue guidance for the second half of the year as renewals with existing customers, and an increased number of pilot and long-term customers, has not equated to revenue growth.

DeBiase thinks that this is occurring for three reasons: pricing pressure, cannibalization of the company's more lucrative product offerings, and overall economic weakness. He is keeping his $0.25 2002 earnings per share estimate and cut the $0.45 2003 earnings per share estimate to $0.30.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus