We think that this merger is going to create a very powerful company. It's the largest online travel agency in the largest online retail sector. We think at these price levels, it is severely undervalued. |
We were surprised that (comparable store sales) were not stronger, given the boost from the release of the sixth Harry Potter. |
With 2001 revenue growth rates now expected to be in a range of 9 to 18 percent and earnings per share growth expected to be negative 12 to 33 percent, we believe Yahoo!'s price-earnings multiple will contract until the company is able to demonstrate significantly higher growth rates. |
Yahoo! in our opinion is the hands-down leader in the Internet portal space. It is well run, extremely profitable and its awesome business model stands head and shoulders above most Internet companies. |