An Online Broker Tests the Waters, The Internet Analyst News.Business Editors and Technology Writers NEW YORK--(BUSINESS WIRE)--June 30, 2000 Online broker and financial services firm Echapman.com (Nasdaq:ECMN ECMN End-Of-Day Check Message Notification ) opted to go public last week, even as established e-brokerages continued to struggle with low trading volumes. Echapman paid the price. Its shares were priced at $13, but opened at $8 and finished the day at $7.38, down 44% from the offering price. On June 19, Sean Chin of Merrill Lynch cut his 2000 earnings estimate for DLJDirect (NYSE NYSE See: New York Stock Exchange :DIR) to $0.10 a share from $0.22 a share, citing slower account growth. He expects DIR's net new accounts added to fall to less than 30,000 in the second quarter from a net gain of 69,000 in the first quarter Lower trading volumes prompted Rich Repetto of Lehman Brothers to cut his earnings estimate for DIR, as well as for E*Trade Group (Nasdaq:EGRP EGRP E*Trade Group, Inc. (stock abbreviation, AMEX) ) and Ameritrade (Nasdaq:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ). Equinix, Inc. (EQIX) and GiftCertificates.com (GCRT GCRT Georgian Centre for the Psychosocial and Medical Rehabilitation of Victims of Torture GCRT Geriatric Crisis Response Team GCRT Gulf Coast Response Team ) are among this week's Recent Initial Registrations. To find out more about this week's Analyst's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. Updates, read the article in Multex.com's The Internet Analyst(sm), http://www.theinternetanalyst.com/min-tia/individual/000629sections/ipoupdate.asp Companies profiled: Echapman.com (Nasdaq:ECMN) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=ecmn DLJDirect (NYSE:DIR) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=dir E*Trade Group (Nasdaq:EGRP) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=egrp |
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